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Bouygues raises bid for SFR

2014-03-21 09:58:00| Telecompaper Headlines

(Telecompaper) Bouygues Telecom has raised its takeover bid for SFR, beating an earlier offer from Altice accepted by Vivendi. Bouygues raised the cash element of its bid by EUR 1.85 billion, to a total EUR 13.15 billion, plus a 21 percent stake for Vivendi in the new company created from merging Bouygues Telecom and SFR. This is EUR 1.4 billion more than the offer from Altice, the owner of cable operator Numericable. Bouygues said it was convinced of the "industrial strength" created from a merger of its telecom operations and SFR, which would generate EUR 10 billion in synergies, while reducing the French market to three mobile networks from four. Bouygues has pledged to sell its mobile network to smaller rival Free Mobile if its offer for SFR is accepted. The new offer values SFR at EUR 17.4 billion factoring in all of the synergies, of which EUR 16.3 billion come from the agreement with Free. The new entity would be listed on the stock market as soon as the merger is completed, thus giving Vivendi an opportunity to monetise the remainder of its interest. Bouygues has gained the backing of key shareholders to increase its bid, including the bank Caisse des Depots et Consignations, the Pinault family and JCDecaux. They have agreed to acquire an interest or to strengthen their existing interest in the new company. Under the new offer, Bouygues would hold 67 percent in the merged company, versus 52 percent in the previous offer. 

Tags: bid raises sfr bouygues

 

Whole Foods Market Brentwood raises over $4700 for The Salvation Army Haven

2014-03-21 01:49:37| Grocery - Topix.net

Feed 4 More is an annual community food drive sponsored by Whole Foods Market customers who purchase $5 and $10 breakfast, lunch and dinner meals of non-perishable foods.

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H.B. Fuller raises polymer emulsion prices in North America

2014-03-20 06:00:00| Nonwovens Industry Breaking News

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UPDATE 2-Dow Chemical raises asset sale target by $1.5 bln-$2 bln

2014-03-19 22:07:16| Chemicals - Topix.net

Dow Chemical Co said it aimed to raise up to $6 billion from asset sales, $1.5 billion to $2.0 billion more than its earlier target, to focus on electronics, agriculture and packaging.

Tags: sale update target chemical

 

ID.me Raises $7.5M to Help Teachers, Veterans Get Deals Safely Online

2014-03-19 19:34:19| Apparel - Topix.net

For years, Overstock.com Inc. Chief Executive Patrick Byrne wanted to give special deals to U.S. active military personnel and veterans to show patriotic appreciation.

Tags: online deals teachers safely

 

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