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Tag: bid agrees
Alibaba agrees increased bid for video site Youku Tudou
2015-11-06 15:29:00| Telecompaper Headlines
(Telecompaper) Alibaba has agreed to increase its bid to acquire Chinese online video service Youku Tudou. The e-commerce giant increased its offer to USD 27.60 per Youku Tudou ADS, up from USD 26.60 when the company first announced its intentions in mid-October. The price is a premium of 35.1 percent on Youku Tudou's share price on 15 October, the day prior to the initial announcement and a 49.9 percent premium on the average share price in the three months prior. Youku Tudou's board recommended the improved offer to shareholders, based on the recommendation of an independent special committee set up to evaluate the offer. Alibaba already has a stake in the company of 18.3 percent and taking control of Youku Tudou will support Alibaba's plans to expand into the content market.
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Nokia agrees EUR 15.6 bln bid for Alcatel-Lucent
2015-04-15 08:23:00| Telecompaper Headlines
(Telecompaper) Nokia and Alcatel-Lucent reached an agreement on the terms of their proposed merger. Nokia will offer 0.55 of its shares for each Alcatel-Lucent share, valuing the company at EUR 15.6 billion or EUR 4.27 per share. This is a premium of 28 percent to the average share price over the three months before the merger talks were announced. Alcatel-Lucent shareholders would own 33.5 percent of the new company, which will continue under the name Nokia. Nokia's current chairman and CEO, Risto Siilasmaa and Rajeev Suri, will continue to lead the company, and the new Nokia will remain headquartered in Finland with a "strong presence" in France. Alcatel-Lucent will have three members on the board of 9-10 members, including the role of vice chairman. Pending approval by Nokia's shareholders and regulators, the takeover is expected to close in the first half of 2016. By 2019, the companies expect to achieve EUR 900 million in operating cost savings from the merger. They also forecast EUR 200 million in savings in interest costs by 2017.
Goodman Fielder agrees to takeover bid from Wilmar and First Pacific
2014-07-03 21:03:54| Food - Topix.net
Iconic Australian food maker Goodman Fielder has finally agreed to an A$1.34bn offer by Wilmar International and First Pacific Company to acquire the company after the last two bids were turned down.
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America Movil agrees bid to take control of Telekom Austria
2014-04-24 09:46:00| Telecompaper Headlines
(Telecompaper) America Movil announced plans to launch a takeover bid for the rest of Telekom Austria, as part of a proposed shareholders agreement with the Austrian state. The Mexican company already holds 26.8 percent of the shares and plans to offer EUR 7.15 per share for the remaining shares not held by OIAG, the state holding company that will maintain 25 percent plus one share in Telekom Austria. The operator's stock rose almost 7 percent to the bid price the day after the agreement was struck. In addition to the blocking stake, the state maintained the right to nominate the CEO and chairman of Telekom Austria, as well as guarantees on maintaining the head office in Austria, the group's Austrian brands, the quality of the network and the stock listing on the Vienna exchange. America Movil will gain operational control of the group and agreed to support its share of a EUR 1 billion rights issue to increase the operator's capacity for investment and possible acquisitions in eastern Europe. The rights issue will take place after the public bid; both still require regulatory and shareholder approval. The shareholders pact between America Movil and the state will run for ten years, with an option for a five-year extension.
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austria
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Telus agrees new bid for Mobilicity
2014-04-18 09:36:00| Telecompaper Headlines
(Telecompaper) Mobilicity has reached a new agreement to be acquired by Telus for CAD 350 million. Mobilicity has been under protection from creditors since September last year. Last year it agreed a sale to Telus for CAD 380 million, but the deal was blocked by the Canadian government, which said it would not allow one of the new entrants on the mobile market after the spectrum auction in 2008 to be swallowed up by a larger incumbent. After the five-year moratorium on spectrum sales expired, Mobilicity said it expects the new transaction to gain regulatory approval, as it should not impact competition. The sale to Telus is expected to provide continuity of service for its 165,000 customers as well as its staff and suppliers. The company said it attracted five bidders in its sale process, with only Telus' offer deemed acceptable. Approximately 95 percent of the holders of Mobilicity's senior unsecured debt due 2018 support the transaction and have agreed to vote in favour of the plan. Completion also remains subject to court approval.
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bid agrees