Nova's Dynegy stake for sale

Article Abstract:

Nova Corp. is selling its $465.6-million interest in Houston, TX-based Dynergy Inc. as part of its effort to exit from the energy business and focus on its chemical operation. Company President Jeffrey Lipton intends to use the proceeds from the sale to purchase commodity chemical manufacturing facilities at a bargain or either repurchase stock or repay debt. The Houston, which generates electricity, produces and sells natural gas liquids and distributes natural gas and power, had revenue of $13.4 billion in 1997.

Comment:

Is selling $465.6-mil interest in Houston, TX-based Dynergy as part of effort to exit from energy business, US

Electric Utilities, Electric Power Generation, Transmission and Distribution, Foreign operations, Dynergy Inc., Nova Corporation of Alberta, Article

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Smed finds U.S. white knight

Article Abstract:

Calgary, Alb.-based Smed International Inc., which is an office furniture maker, has reached a takeover agreement with Holland, Mich.-based Haworth Inc. The deal, which blocks a $169 million hostile takeover attempt by Holland Landing, Ont.-based Office Specialty Inc., has been valued at about $213 million.

Acquisitions & mergers, Furniture & Fixtures, Furniture and Related Product Manufacturing, Furniture, Office Furniture, Office Furniture (including Fixtures) Manufacturing, Mergers, acquisitions and divestments, Furniture industry, Smed International Inc., Office Specialty Inc., Haworth Inc.

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