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Softbank starts talks with DT on T-Mobile takeover - report
2014-01-20 08:52:00| Telecompaper Headlines
(Telecompaper) Softbank has entered direct talks with Deutsche Telekom to resolve obstacles to a potential merger of their US mobile operators, Sprint and T-Mobile, people with knowledge of the matter told Bloomberg. While SoftBank has assurances from banks that financing for a deal will be available, an agreement could still take months to reach, the report said. Unresolved issues include how much cash and stock SoftBank will pay for Deutsche Telekom's 67 percent stake in T-Mobile US, and how Sprint and T-Mobile will be integrated. Deutsche Telekom wants an all-cash offer for T-Mobile, which has a market value of about USD 26 billion, and SoftBank is trying to finance a deal to provide as much cash as possible, one of the sources said. Also still to be resolved are the size of a breakup fee in case regulators strike down a deal, two of the people said. Separately, Deutsche Telekom CEO Tim Hoettges told Bloomberg that the company had recouped its investment in T-Mobile US, with an increase in the unit's value compensating for the EUR 7.4 billion writedown on the asset in 2012. In an interview, Hoettges said the value of T-Mobile US was back at the same level as when the company considered a sale of the US operator to AT&T. This means the 67 percent stake is worth around USD 42 billion. The CEO declined to comment on whether DT is in talks again to sell T-Mobile US.
Tags: report
starts
talks
takeover
Pacer International, Inc. Stockholders Encouraged to Contact Securities Law Firm about Takeover
2014-01-17 18:41:07| Logistics - Topix.net
Concerned PACR investors are encouraged to contact attorney Hamilton Lindley at 877-819-8033 or hlindley@deanslyons.com about their rights and remedies.
Tags: contact
international
law
firm
Osisko says Goldcorp takeover offer is very low
2014-01-15 17:17:36| Automakers - Topix.net
Osisko Mining Corp. says a hostile takeover bid for the company by Goldcorp Inc. is "very low" and opportunistic.
Time Warner Cable rejects Charter takeover approach
2014-01-14 08:46:00| Telecompaper Headlines
(Telecompaper) Time Warner Cable has rejected a takeover bid from Charter Communications, saying it "grossly" undervalues the company. TWC said this is the third approach it's had from Charter. The proposal was described only generally in a letter from Charter as being in the "low USD 130s", compared to TWC's current share price of around USD 132. Based on an interview with Charter CEO Tom Rutledge , Bloomberg reported that the offer was for USD 132.50, consisting of USD 83.00 in cash and USD 49.50 in Charter stock. TWC said Charter had previously offered cash and stock valued at USD 114 per share in June and USD 127 in October. Rob Marcus , Time Warner Cable's chairman and CEO, said the offer was a "non-starter", at just 7x EBITDA or "well below past transactions in the cable sector". Not only is the nominal value too low, the high share of payment in stock offers little to TWC shareholders, he said. According to the CEO, TWC made clear to Charter in later December that it was interested in a bid closer to USD 160 per share, including at least USD 100 in cash. Charter said in a statement that it had made "repeated overtures" to Time Warner Cable in the past six months, but only in December did the company engage in talks. Charter expects the possibility of a takeover and a premium bid has already been largely priced into TWC's share price. The response from Time Warner Cable's management led Charter to believe they had no intention of starting merger talks, so Charter is now making its proposal directly to shareholders.
Tags: time
approach
cable
charter
Hain Celestial completes takeover of rice brand Tilda
2014-01-14 01:00:00| Food Processing Technology
Hain Celestial, a US-based natural and organic food products producer, has bought Tilda, a branded basmati and speciality rice products provider, in a $357m deal.
Tags: brand
rice
completes
celestial
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