Exel

Article Abstract:

Exel is merging with Ocean Group, which involves costs as well as opportunities. Deutsche Bank rates the company's stocks a hold, Donaldson Lufkin and Jenrette rates them 'market outperform', and Charterhouse Securuties rates them a trading sell.

Railroads, Rail Transportation, Railroad management, Exel

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Christian Salvesen

Article Abstract:

Christian Salvesen plans a demerger of Aggreko, its power hire group, and if offering a special dividend. This follows the rejection of a bid by Hays, and is an attempt to boost the value of Salvesen's shares. Aggreko reported a rise in operating profit of 30% to 24 million pounds sterling for the six months to Sep 1996, while Salvesen's logistics rofits rose by 3% in this period and were affected by difficult conditions in the food retail industry. Salvesen's profit is forecast at 88 million pounds sterling for full year 1996 to 1997.

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Christian Salvesen: no truck with Salvesen

Article Abstract:

Rebel shareholders have made an alternative proposal to the restructuring plans proposed by management. These shareholders are led by John Grant, previously finance director at Lucas, and Gerald Elliot, previously chairman of Salvesen. Private shareholders have not previously attempted to get rid of a board in the UK. Analysts do not think the rebels will succeed, and they will have to convince major fund managers in order to force the board to abandon its plans.

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