U.S. buyout firm joins takeover battle for Reynolds

Article Abstract:

Michigan Avenue Partners, a Chicago, IL-based buyout firm that is slowly assembling a sizeable aluminum business, has joined the takeover battle for Reynolds Metals Co with a cash offer that is higher than the $.2- billion bid from Alcoa Inc. The merger of Montreal, Canada-based Alcan Aluminum Ltd, the second-biggest aluminum producer in the world, with France's Pechiney SA and Switzerland's Alusuisse Lonza Group AG prompted Alcoa to launch an unsolicited takeover for Reynolds, its smaller US competitor and the No. 3 aluminum producer in the world. Industry observers said that Alcoa is sure to make a counteroffer that is higher than the Michigan Avenue bid.

Other Aluminum Rolling and Drawing, Aluminum Mill Products, Reynolds Metals Co.

---

WorldCom-Sprint merger plan formally prohibited by EC

Article Abstract:

Antitrust regulators at the European Union may derail the proposed $120 billion merger between Jackson, Miss.-based WorldCom Inc. and Westwood, Kansas-based Sprint Corp. The EU voted against the merger while the U.S. Department of Justice filed a lawsuit aimed at stopping the merger.

Legal issues & crime, Government regulation, Wired Telecommunications Carriers, Telephone Communications, Long Distance Telephone Svc, Telephone communications, exc. radio, Cases, Telecommunications services industry, Telecommunications industry, Telecommunications systems, United States. Department of Justice, Telephone services, Long distance telephone services, Sprint Corp., WCOM, FON, European Union, MCI Inc.

---

Unilever swallows Bestfoods

Article Abstract:

Unilever acquires Bestfoods after the latter forces up the stock price by avoiding the former's buy offers for a month. Approval of the merger will create the world's largest food company.

United Kingdom, Food & Kindred Products, Food Manufacturing, FOOD AND KINDRED PRODUCTS, Preserved Fruits and Vegetables, Canned, Dried & Frozen Foods, Fruit and Vegetable Preserving and Specialty Food Manufacturing, Holding companies, not elsewhere classified, Financial Holding Companies NEC, Offices of Other Holding Companies, Financial services industry, Financial services, Food industry, Food, Unilever Group, Financial holding companies, Bestfoods, BFO

Similar abstracts:

• Abstracts: U.S. firm bought for Net products. Cisco seeks Canadian startups. PixStream settles suit with Unique Broadband
• Abstracts: Riptide system aims to beat on-line fraud. Ballard powers ahead with fuel cell. Fuel cell generators on way: Ballard
• Abstracts: U.S. miner repatriates profit of Canadian subsidiary. Shareholders assail TVX's management
• Abstracts: Gas stocks catch fire on Poco takeover. Burlington Resources grabs gas producer Canadian Hunter
• Abstracts: No abortion pill for unwelcoming canadian climate. Canadians wary of genetically altered foods. Frankenfoods need more testing, PM agrees

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.