Manalta tries to block Luscar offer

Article Abstract:

Manalta Coal Income Trust attempts to block a hostile takeover move by Luscar Coal Income Fund by lowering from C$4 to C$1 the final payment investors must pay on Oct. 1, 1998 to obtain a full unit of Manalta equity. Manalta, which owns one of the largest coal producers in Canada, will take up the discrepancy of C$3 through a loan obtained from Royal Bank of Canada. Manalta opted for the action to buy more time as it looks for another buyer to beat Luscar's offer of C$550 million. The bid, which would involve all of the installment receipts of the Manalta trust, is slated to expire on Aug. 18, 1998.

Comment:

Hostile takeover is being blocked by Manalta by lowering from C$4 to C$1 the final payment investors must pay

Coal, Coal Mining, Article, Manalta Coal Income Trust

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Precision bids for rest of Computalog

Article Abstract:

Precision Drilling Corp, Canada's biggest oil well drilling company, has launched an C$88.1 million takeover bid for Computalog Ltd. Calgary, Alberta-based Precision, which already owns a 20% stake in Computalog, said its 'friendly, unsolicited' offer values Computalog shares at C$8.50 in cash or 0.35 of a Precision share. Precision is also offering to assume Computalog's debt, which stood at C$49.6 million at the end of Mar 1999.

Support Activities for Oil and Gas Operations, Well Services, Computalog Ltd.

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Trust tax under fire as drain on revenue

Article Abstract:

The economic aspects of the implementation of the trust levy by the Canadian government are discussed. The acquisition of Canadian income trusts by Canadian and international financial institutions is described.

Taxes, Economic aspects, Mergers, acquisitions and divestments, Company acquisition/merger, Tax policy, Income trusts

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