BAe-GEC proposal appears to be set for EU clearance

Article Abstract:

British Aerospace PLC's (BAe) proposed acquisition of General Electric Co. PLC's defense and electronic-systems unit is expected to be approved by the European Commission (EC). BAe is attempting to purchase Marconi Electronic Systems Ltd. The EC has only been responsible for examining the military aspect of the proposed deal. The EC will decide whether to approve the deal following a one-month review or conduct an four-month inquiry.

Comment:

BAe's acquisition of General Electric's defense and electronic-systems unit expected to be approved by European Commission (EC)

Electrical & Electronic Equip, Electrical Equipment, Appliance, and Component Manufacturing, European Union, Aircraft & Parts, Aerospace Product and Parts Manufacturing, Electrical equipment and supplies industry, Electric equipment industry, Aircraft industry, BAE Systems (Farnborough, United Kingdom), General Electric Company PLC, Marconi Electronic Systems Ltd.

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BICC board rejects bid by Wassall PLC

Article Abstract:

Wassall PLC announced that the BICC PLC's board has rejected its 90 pence ($1.47) per ordinary share offer to acquire the engineering firm. Wassall also said that it made an 110 pence offer for every 100 pence-dominated Bidco loan share. The Bidco loan shares attract a 10.75% coupon. Bido is a specially formed vehicle ny Wassall that is designed to acquire BICC.

Comment:

Wassall says BICC PLC's board has rejected 90 pence ($1.47) per ordinary share offer

Other Footwear Manufacturing, Other Communication and Energy Wire Manufacturing, Nonrubber Footwear, Footwear, Except Rubber, Nonferrous wiredrawing & insulating, Nonferrous Wire Drawing, Footwear industry, Footwear, Wassall PLC, Abstract, Electrical wire and cable industry, Electric wire and cable industry, Nonferrous wire, Wire drawing, BICC PLC

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