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Orascom Telecom rejects Altimo buy-out offer
2013-05-15 08:54:00| Telecompaper Headlines
(Telecompaper) Egypt's Orascom Telecom announced that its board of directors has recommended shareholders reject an offer from Russian investor Altimo to buy out the mobile company for USD 0.70 a share. Independent financial adviser HC Securities and Investments put the fair value of Orascom's shares higher, at USD 0.86 per share, the company said. Altimo made the offer which values all of Orascom at USD 3.7 billion in early April. Altimo already has a 47.85 percent voting interest in Orascom's controlling shareholder Vimpelcom. Representatives of Vimpelcom, which owns 52.92 percent of Orascom Telecom, did not vote on the board's opinion of the bid. Vimpelcom said separately that it does not plan to tender its Orascom shares to Altimo under the current terms of the offer.
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Cole Credit Property Trust III Rejects American Realty Capitals Revised Offer
2013-04-05 18:19:00| National Real Estate Investor
A special committee of Cole Credit Property Trust III Inc.s board of directors has rejected ARCP's unsolicited takeover proposals. read more
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FedEx rejects UPS offer of TNT Express assets-FT
2013-01-08 05:26:56| Air Courier - Topix.net
Informal approaches by United Parcel Service to FedEx to sell a package of TNT Express assets have been rebuffed by its U.S. rival, making it potentially harder for UPS to win approval for its takeover of the Dutch delivery group, the Financial Times reported.