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Avago agrees Broadcom takeover for USD 37 bln
2015-05-28 15:00:00| Telecompaper Headlines
(Telecompaper) Avago Technologies confirmed an agreement to acquire Broadcom for USD 37 billion in cash and shares. The latest merger in the semiconductor industry creates a company with annual revenues of USD 15 billion and a complete range of products for the fixed and wireless communications industries. Avago's CEO Hock Tan will lead the combined company, which will continue under the name Broadcom. Henry Samueli, co-founder, CTO and chairman of Broadcom, will serve on the new company's board, as will one other director from Broadcom. Samueli will also remain CTO of the company and serve as strategic adviser. Under the terms of the deal, Avago will pay USD 17 billion cash and 140 million of its shares, valued at USD 20 billion according to the latest share price, for all of Broadcom's stock. Shareholders of Broadcom will be able to elect for cash, shares or a combination of the two. A pro rata allocation assuming 50 percent shares and 50 percent cash would give shareholders of Broadcom 32 percent of the new group. Avago will fund the cash consideration with cash on hand from the combined companies and a new debt facility from a bank consortium worth USD 9 billion. The transaction has been unanimously approved by the boards of directors of both companies, as well as a special committee of the independent directors of Broadcom. Closing of the deal is expected by the end of the first calendar quarter of 2016, subject to regulatory and shareholder approvals.
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Ryanair will have an important say in the takeover bid for Aer Lingus
2015-05-27 14:56:22| Airlines - Topix.net
International Airlines Group chief Willie Walsh said he expects Ryanair to act in a "rational way" to its takeover bid for Irish flag carrier Aer Lingus. The British Airways owner will make a formal offer within the next 28 days for Ryanair's near 30% stake in Aer Lingus.
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Ryanair will have an important say in the takeover bid for Aer Lingus
2015-05-27 14:56:21| Airlines - Topix.net
The takeover of Aer Lingus by British Airways owner International Airlines Group has been left hinging on the next move by Ryanair - now "kingmaker" in the deal due to its near-30% stake in the Irish flag-carrier. But the low-cost airline, headed by flamboyant boss Michael O'Leary, was keeping its cards close to its chest, saying it had yet to receive an offer despite the announcement yesterday that terms had been agreed by the Aer Lingus board.
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Spain approves Orange's Jazztel takeover
2015-05-27 02:00:00| Total Telecom industry news
13-per-share voluntary cash offer will open this week.
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Union wants plug to be pulled on a 1.3bn Aer Lingus takeover
2015-05-22 09:35:15| Airlines - Topix.net
Impact national secretary Matt Staunton said that the CEOs of both Aer Lingus and IAG, which operates British Airways and Iberia, had refused to respond to a number of union requests The Impact trade union has called on the Government to scrap plans to sell its stake in Aer Lingus to IAG amid claims that assurances offered by the aviation giant are "worthless". An emergency conference motion, calling on Transport Minister Paschal Donohoe to oppose the sale of the Government's stake in the airline, was passed by union delegates yesterday.
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