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Fidelity makes buy-out offer for Colt
2015-06-19 09:04:00| Telecompaper Headlines
(Telecompaper) Colt's largest shareholder Fidelity Investments has made an offer to take the European carrier private. However, Colt's independent shareholders said the bid of 190 pence per share undervalues the group, and a sale to a third party could achieve a higher price. Colt said the directors' assessment was based on its new business plan, which has been provisionally approved by the board and further details of which will be announced soon. While the independent directors, having been so advised by Barclays, consider the financial terms of the offer not fair to the shareholders of Colt, they also recognised that some shareholders may be interested in accepting the bid. Accordingly the board has made no recommendation to shareholders whether or not to accept the offer. Furthermore Fidelity has stated that it will not sell its shares in Colt before the end of 2016, so the immediate offer to cash-out may appeal to some shareholders. As a result Colt's board said it would convene a meeting of shareholders to consider the offer. Fidelity said its offer gives shareholders a premium of 35 percent on the average share price in the past year. In total its offer values Colt at GBP 1.72 billion.
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Portland to offer summer classes for assessing buildings after an earthquake
2015-06-18 19:26:31| PortlandOnline
Sign up now for classes August 17-20, 2015.
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UPDATE 1-German auto makers ready offer for HERE as deadline looms-sources
2015-06-18 10:37:09| Telecom - Topix.net
Germany's premium auto makers BMW Daimler and Audi are preparing an offer for Nokia's maps business, as binding bids are due by end of Thursday, two sources familiar with the process told Reuters. The binding offers will be used as a basis to pursue negotiations for making a final offer, one of the sources told Reuters on Wednesday.
Hedge fund Elliott: Samsung Group must offer fair price for restructuring
2015-06-18 02:53:09| Chemicals - Topix.net
U.S. activist hedge fund Elliott said on Thursday South Korea's Samsung Group [SAGR.UL] should make a fair offer to Samsung C&T Corp ( Elliott, a Samsung C&T shareholder, said that while it "understands and is supportive" of the need for South Korea's largest conglomerate to restructure in relation to its ongoing succession process, Samsung Group should properly recognize Samsung C&T's value.
Hedge fund Elliott: Samsung Group must offer fair price for restructuring
2015-06-18 02:28:38| Semiconductors - Topix.net
U.S. activist hedge fund Elliott said on Thursday South Korea's Samsung Group [SAGR.UL] should make a fair offer to Samsung C&T Corp ( Elliott, a Samsung C&T shareholder, said that while it "understands and is supportive" of the need for South Korea's largest conglomerate to restructure in relation to its ongoing succession process, Samsung Group should properly recognize Samsung C&T's value.
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