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’Imperial Tobacco seeks talks with rival after bid is rejected
Imperial Tobacco yesterday vowed to continue “friendly” talks with its Franco-Spanish rival Altadis after an initial takeover approach was rejected, reports The Guardian. The £8bn bid for Altadis has sparked a series of takeover theories in the consolidating industry and added to the raft of buyout talk across the London market in recent weeks.
CDS report: Takeover rumours move credit default swap spreads
The credit derivatives market continued to be buffeted by rumours of possibly takeover bids on Friday, fuelled by a perception that the recent decline in equity prices might have made leverage buyouts more likely.
Imperial Tobacco – eat or be eaten
Prospects of a sweeping shake-up of the tobacco industry rose yesterday as
Imperial Tobacco of the UK revealed an unsolicited €11.6bn (£7.93bn) approach for Altadis, its Franco-Spanish rival, owner of the Gauloise and Fortuna brands.
Britain Plc laid (very) bare
If ever there was a day when the state of Britain’s listed companies was laid bare for analysis, it was yesterday, says Lombard. At one extreme, the presence of Nelson Peltz, the US activist shareholder,
Markets live transcript 15 Mar 2007
Markets live chat transcript for the chat ending at 11:52 on 15 Mar 2007. Participants in this chat were: Paul Murphy (PM) Neil Hume (NH)
PM: Welcome to a Markets Live
PM: FT Alphaville’s daily markets chat
PM:
Snap: Imperial Tobacco approaches Altadis with €11.5bn offer
After a morning of furious speculation in the tobacco sector, Altadis of Spain confirmed on Thursday that it has received a takeover bid from Imperial Tobacco of the UK.
Imps have tabled an indicative offer of €45-per share.
Markets Live at 11am — furious speculation over tobacco consolidation
The sun’s out and stocks are up in London. A strong, across-the-board rally on Thursday has taken the FTSE 100 comfortably away from the 6000 level that was very nearly broken at the close on Wednesday.
CDS report: a strange calm in mortgage-backed trading
Sentiment in the mortgage-backed securities derivatives market remained calm in trading in the US on Monday — irrespective of the recent spate of bad news about the woes besetting the sub-prime lenders.In particular,
Imperial Tobacco reportedly eyes bid for Altadis
Britain’s Imperial Tobacco is mulling a possible €10bn bid for Spanish company Altadis, the maker of Gauloises cigarettes, claimed a report in the Business magazine.
The magazine cites unnamed “City sources”