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Avago to acquire Emulex for USD 606 mln
2015-02-26 08:17:00| Telecompaper Headlines
(Telecompaper) Avago Technologies announced a definitive agreement to acquire Emulex, a provider of integrated circuits for network connectivity, monitoring and management, for USD 606 million. Under the terms of the agreement, which has been approved by the boards of both companies, a subsidiary of Avago will make a bid of USD 8 per share cash for all of Emulex's shares. Avago expects to fund the transaction with cash available on its balance sheet. Avago said that Emulex's connectivity business fits well with Avago's existing portfolio serving the enterprise storage market. Emulex said it should benefit from Avago's capabilities to help accelerate its strategy to support next-generation server and storage architectures. Senior members of the Emulex management team and all of the directors of Emulex, collectively owning approximately 2.5 percent of Emulex's shares, have said they will support the bid. Pending regulatory approval, the takeover is expected to close in the second half of Avago's fiscal year ending 01 November.
Two multinational firms reach tax deals with Mexico for $300 mln
2015-02-23 23:31:34| Toys - Topix.net
Mexico has reached deals totaling around $300 million with two multinational companies following a probe into possible tax avoidance, the head of Mexico's tax authority said on Monday. Last year, Mexico said it had launched an "informal audit" of 270 companies for allegedly exploiting loopholes that authorities have starved the country of much-needed tax revenue for years.
Deutsche Telekom to connect 5.9 mln more homes to VDSL
2015-02-23 10:40:00| Telecompaper Headlines
(Telecompaper) Deutsche Telekom plans to provide an additional 5.9 million homes with fast internet, Reuters said, citing a spokesman. Deutsche Telekom is currently rolling out a VDSL network in Germany, offering download speeds of up to 100 Mbps. It aims to have connected 65 percent of German houses to fast internet by 2018. With the additional 5.9 million homes, VDSL coverage will rise to about 80 percent.
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Telecom Italia to buy out TI Media for EUR 25 mln
2015-02-20 08:31:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has announced a full takeover of its media division, Telecom Italia Media, which has been a publicly traded company for over a decade. The buyout of TI Media, already 78 percent owned by the phone company, will cost around EUR 25 million. In a joint statement, the two companies said Telecom Italia will offer 0.66 ordinary shares and 0.47 saving shares for each share of the same category in Telecom Italia Media. Investors in the media division can exercise a withdrawal right and receive cash at market prices. The companies said they expected Telecom Italia Media to be merged into Telecom Italia by the end of the third quarter. Simplification of the group's corporate structure and reduction of expenses were given as the main reasons for the buyout.
UPDATE 1-TPG sells stake in Indonesia's BTPN to Sumitomo for $462 mln
2015-02-18 16:13:38| Grocery - Topix.net
Private equity firm TPG Capital has sold a 17.5 percent stake in PT Bank Tabungan Pensiunan Nasional Tbk to an affiliate of Japan's Sumitomo Corp for 5.93 trillion rupiah . TPG Nusantara sold 1.02 billion BTPN shares at 5,800 rupiah apiece, a 43 percent premium to the last traded price, to Summit Global Capital Management, BTPN said in a filing to the Indonesian stock exchange on Wednesday.
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