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Eircom rejects takeover offer
2015-05-20 09:17:00| Telecompaper Headlines
(Telecompaper) Eircom informed the Irish Stock Exchange that it received a non-binding expression of interest from an unnamed company in the first quarter, but rejected the advance because the offer of up to EUR 3.3 billion undervalued the business. The company wrote, "While the bidder was very credible, the board believed that, with the business reaching an inflection point, the indicated price range undervalued the group". After passing this inflection point, Eircom expects to return to growth this quarter. The Irish Times speculates that the interested party was US investment house Anchorage Capital, which held an around 8 percent stake until recently, but according to several sources, bought another 25 percent from Blackstone asset manager GSO in the last few days. GSO has kept around 5 percent of Eircom. The Irish operator would not comment on whether Anchorage was the bidder, but did confirm that it was now its biggest shareholder. Eircom pulled out of a planned IPO last September due to unfavourable market conditions. It was reported at the time that Eircom may have preferred to sell to a single buyer.
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Syngenta rejects Monsantos $45bn takeover offer
2015-05-11 01:00:00| Food Processing Technology
Agrochemicals company Syngenta has rejected a takeover bid of $45bn from US-based sustainable agriculture company Monsanto.
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Swiss biotech company Syngenta rejects Monsanto takeover offer , says it undervalues prospects
2015-05-08 12:40:02| Biotech - Topix.net
Swiss biotechnology company Syngenta said Friday that it has rejected a takeover offer from Monsanto Co., a bid that it said greatly undervalued its prospects. Syngenta's shares jumped 17 per cent on the interest, however.
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PartnerRe rejects Exor's offer, says it will merge with Axis
2015-05-05 18:25:27| Automakers - Topix.net
PartnerRe rejected an offer from Italian investment company Exor, saying it will go ahead with its combination with competitor Axis Capital. Exor offered to buy PartnerRe in April for $6.16 billion in cash, or $130 per share.
DuPont rejects Peltz's latest offer regarding board seats
2015-03-17 05:46:15| Chemicals - Topix.net
The company has formally rejected an offer from activist investor Nelson Peltz , who wanted to put himself and another on the chemical comapany's board of directors and the two others on the board of Chemours Co. The company said it is willing to add Peltz nominee John H. Myers , the chairman of buyout firm ForstmannLeff, to its board of directors.
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