Corporate Actions
Penguin and Random House Merger
Penguin and Random House have announced merger plans. A successful merger will make the new company the largest book publisher in the world. Board members feel that this is a necessary step to take to allow them to compete with the mighty Amazon. The merger of Penguin and Random House will mean that they will control around 27%... Stock market news »
BSkyB Share Buy-back
BSkyB are planning to buy-back £750 million of their own shares to help protect themselves from a hostile takeover bid. The move will also make it clear to shareholders that they do not plan to be taken over any time soon. BSkyB has reported good financial results this year with an increase in revenues... Stock market news »
PNC Financial Takeover RBC – Huge Banking Takeover for 2011
Big news today, PNC Financial Services Group Inc are making a bid for RBC (Royal Bank of Canada). PNC is the 6th largest bank in America and has made an offer to pay a total of $3.62 billion in cash and stock for the Royal Bank of Canada’s retail business. PNC wishes to acquire RBC to help... Stock market news »
Rolls-Royce and Daimler Takeover Tognum
In case you had not already heard, Rolls-Royce and Daimler are taking over Tognum. On 6th June 58.35% of Tognum shareholders had accepted the offer from Daimler and Rolls-Royce. Daimler and Rolls-Royce now control a total of 59.87% of Tognum through their joint venture called Engine Holding GmbH. The final acceptance of shares is... Stock market news »
Metallica Rights Issue
No, not the American heavy metal band, but the Australian resource and commodities company Metallica Minerals Ltd. Metallica has announced plans for a rights issue to raise $4.9 million to develop is Tri-metal Project. Metallica’s Tri-Metal Project operates in the Townsville area. Also it is running a Weipan zircon / rutile mineral sands project on... Stock market news »
Resolution Share Buy Back Returns £500 Million
The insurance company, Resolution plc, is planning to return up to £500 million to shareholders by way of a share buyback (also called a share repurchase offer). Companies perform share buybacks when they are cash rich and wish to reduce their cash balance. Buying back shares is a way to reward investors by offering... Stock market news »
Bank of Ireland Rights Issue
The Bank of Ireland has announced plans to carry out a rights issue to raise an estimated EUR4.35 capital. The rights issues is likely to be underwritten by the Irish government and represent a reasonable discount to market price. Full details of the rights issue will not be announced until after an agreement has... Stock market news »
Medion Takeover Offer By Lenovo
The first big tech stock corporate takeover in a while. News in that Lenovo who are the 4th largest computer manufacturer in the world, have made a takeover bid for Medion. Medion is a German stock and Lenova is Chinese. Lenovo are looking to purchase 36.66% of Medion AG shares at EUR13 each from the... Stock market news »
EIG RM26.4 Million Rights Issue
Esthetics International Group Bhd (EIG) has announced plans to raise RM26.4 million through a rights issue sale. EIG are hoping to release 52.8 million rights (nil paid rights shares) along with 52.8 million warrants which will be detachable (so can be trade separately). Terms of the EIG Rights Issue For every 5 shares held you are... Stock market news »
Forth Ports Plc Scheme of Arrangement
Forth Ports Plc has been acquired (a recommended cash offer) by Otter Ports Limited and is subject to a scheme of arrangement on the 2nd June 2011. Forth Ports (UK sedol 0347310) will be de-indexed from the FTSE250 following its sale to Otter Ports, a subsidiary of Arcus European Infrastructure Fund. The takeover saw... Stock market news »
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