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Italian government blocks EI Towers bid for RaiWay
2015-02-26 08:28:00| Telecompaper Headlines
(Telecompaper) The Italian government has rejected a bid by Mediaset-controlled EI Towers to acquire rival Italian tower operator RaiWay for around EUR 1.23 billion in cash and stock. In a statement, the economic development ministry said that in view of the strategic importance of the assets, it wouldn't be accepting the offer. Under a September decree, at least 51 percent of RaiWay has to remain under the control of state broadcaster Rai. The government's move comes a day after EI Towers said it was offering EUR 3.13 in cash plus 0.03 new EI Towers common shares for each RaiWay share, valuing the Rome-based company's stock at EUR 4.50 each. The aim was to "create a single operator of broadcasting towers in Italy," said Mediaset. Rai Way was listed on the Milan stock exchange in November in an IPO that valued the company at around EUR 800 million and left Rai with a controlling stake of 65 percent. However, the news that Mediaset was seeking to acquire one of Rai's last strategic assets was described as unacceptable by Italian opposition parties and trade unions. EI Towers had earlier announced that its shareholders would be meeting on 27 March to approve a capital increase for the transaction.
Tags: government
italian
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blocks
Rocky Brands adding clogs for women in bid for more casual business
2015-02-25 18:03:50| Footwear - Topix.net
Rocky Brands has launched a new line of clogs for women with interchangeable insoles to create either a backless slide, swivel-strap slide or full-back shoe. It began expanding into the casual space with the acquisition in late 2013 of Los Angeles-based Creative Recreation and now is building on that with a new line of clogs for women called Rocky 4EurSole.
Tags: more
business
women
brands
Upstate Launches Takeover Bid for Main Competitor Metalico
2015-02-25 11:00:00| Waste Age
The CEO of Upstate Shredding LLC-Ben Weitsman Recycling has made an offer to buy all outstanding shares of competing scrap recycling firm Metalico Inc. for 78 cents per share, a deal that would be worth about $45.5 million. read more
Tags: main
bid
launches
competitor
EU concerned about GEs bid for Alstoms power equipment business
2015-02-25 01:00:00| Power Technology
The European Union has decided to go ahead with a thorough investigation of General Electric's 12.4bn (9.1bn) bid for Alstom's power equipment business, fearing price hikes.
Tags: business
power
equipment
bid
UPDATE 2-CN Rail threatens to lock out union in bid to force deal
2015-02-21 03:28:32| Railroads - Topix.net
Canadian National Railway Co said on Friday that barring a settlement by this weekend with Unifor, a union that represents 4,800 of its mechanical, clerical and intermodal staff, it plans to begin to lock out employees on Monday. In a post on its official Twitter account, the union called for CN Rail to "get back to the bargaining table," while the company responded on the social media platform by urging "union leadership to sit down & negotiate a deal this weekend."
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