UBS says Warburg Dillon Read is not for sale, quashing rumors

Article Abstract:

Warburg Dillon Read, an investment banking services provider headquartered in London, UK, is not expected to be sold by its parent organization, UBS AG. UBS maintains that Warburg Dillon Read is a major part of the financial services firm's four-pronged strategy. The parent company likewise pointed out that it is not considering any divestiture at the moment in light of the unimpressive condition of the global economy. The pronouncements came after speculations surfaced regarding the possible sale of the investment banking unit to an undisclosed buyer.

Comment:

Is not expected to be sold by its parent organization, UBS AG

Asset sales & divestitures, Investment Banking and Securities Dealing, Investment Banking, Investment banks, Warburg Dillon Read

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Salomon hires four Dresdner analysts

Article Abstract:

Four banking analysts from Dresdner Kleinwort Benson have been hired by Salomon Smith Barney. The hiring will increase Salomon's banking analysts in the UK and Europe from five to nine. Three of the four banking analysts, currently, are members of a Dresdner team, which focuses on UK banks, which were recently ranked first and third in two European-analyst surveys. Although Salomon does not have enough analysts on its board, its analysts usually managed to be included among the top five in the surveys.

Comment:

Has hired four banking analysts from Dresdner Kleinwort Benson

Labor force information, Other Management Consulting Services, Business & Mgmt Consulting NEC, Salomon Smith Barney Holdings Inc., Consulting services

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Weir Group says it faces unsolicited takeover bid

Article Abstract:

The Weir Group PLC received an unsolicited takeover offer of more than $1 billion from a firm based in the US. Weir did not reveal the size of the offer. The company, one of the largest makers of pumps in Europe, did not release the name of the bidder. The offer was made just after Weir appointed Duncan Whyte as its new chief executive officer. His appointment becomes effective on June 1, 1999. Sir Ron Garrick, the outgoing CEO, will handle the offer until then.

Comment:

Receives an unsolicited takeover offer of more than $1 billion from a firm based in the US

Diversified Companies, Planning, Abstract, Weir Group PLC

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