Connect to share and comment

Men's Wearhouse likes the way rival Jos A Bank looks, sweetened bid caps long bidding process

NEW YORK, N.Y. - Looks like the best suitor won. After an extended chase that included overtures on both sides and flirtations with other parties, Men's Wearhouse and Jos. A. Bank will combine to create the nation's fourth-largest menswear retail chain.

Osisko says Goldcorp takeover blocked until April 15, urges shareholders to wait

MONTREAL - Osisko Mining Corp. (TSX:OSK) is urging shareholders to sit on the sideline while its board continues the search for an alternative to an ongoing hostile takeover play from Goldcorp Inc. Goldcorp (TSX:G) has extended its hostile deadline for accepting the offer until March 21 but Osisko noted early Tuesday morning that its adversary is prevented from buying more shares until April 15.

America Movil may seek shareholder pact over Telekom Austria

MEXICO CITY (Reuters) - Mexican telecoms giant America Movil said on Monday it could start formal talks to create a shareholder syndicate for Telekom Austria with the company's biggest Austrian stakeholder. Controlled by billionaire Carlos Slim, America Movil has a 27 percent stake in Telekom Austria and said in a statement it had held discussions with different stakeholders of the Austrian telecoms company, including Austrian state holding company OIAG.

Augusta Resource lines up support to rebuff HudBay, says its offer too low

VANCOUVER - Augusta Resource Corp. (TSX:AZC) says shareholders and insiders with about one-third of the company's equity are rejecting an all-stock takeover offer from HudBay Resources Inc. (TSX:HBM). The Vancouver-based mining company says HudBay's offer, which originally valued Augusta at roughly $540 million, doesn't recognize the value of the Rosemont copper project in Arizona. "Rosemont is a high-quality, world-class asset. We will not let HudBay steal this asset with this low-ball bid," Augusta chief executive Gil Clausen told analysts Monday in a conference call.

In latest push for Time Warner Cable, Charter to nominate full slate of 13 to rival's board

STAMFORD, Conn. - Charter Communications Inc. said Tuesday that it's nominating a full slate of 13 candidates for election to Time Warner Cable Inc.'s board as it pushes forward with its $38 billion hostile takeover bid. Time Warner Cable's management has rejected Charter's cash-and-stock offer of about $132.50 per share, saying it would accept a bid of $160 per share in cash and stock.

Longview Oil board reviewing non-binding takeover offer, few details released

CALGARY - Longview Oil Corp. (TSX:LNV) is reviewing an unsolicited, non-binding takeover offer from an unidentified public company. Longview provided few details except that the prospective bidder would pay for the deal with its own shares. The company says it has set up a special committee to review the proposal and also adopted a shareholder rights plan. The rights plan is a defensive move to provide Longview's board with time to evaluate the offer and alternatives.

J.C. Penney lowers poison pill trigger to protect tax carryforwards

(Reuters) - Struggling department store operator J.C. Penney Co Inc <JCP.N> said it lowered the threshold for triggering a takeover defense plan to protect about $2 billion in future tax benefits. The company said it was lowering the trigger on its poison pill to 4.9 percent from 10 percent, as any change in stock ownership of 5 percent or more could "substantially limit" the company's ability to use its net operating loss carryforwards under the tax code.

JC Penney bulks up takeover defence move as retailer tries to return to profitability

NEW YORK, N.Y. - J.C. Penney is bolstering its shareholder rights plan, or "poison pill" — typically an effort to thwart takeover attempts. The shareholder rights plan can now be put into effect if an individual or group acquires 4.9 per cent or more of its outstanding stock. That's down from a 10 per cent threshold. The corporate defence strategy allows existing shareholders to buy more shares at a very low price if that occurs.

Analysis: Corporate cash may not all flow back with recovery

By Mike Dolan LONDON (Reuters) - When the corporate cash dam bursts, everything will be ok, right? Well, maybe. Investors betting that the past year of more than 20 percent gains in western stock markets can be echoed, or at least sustained, through 2014 have long assumed that a corporate spending revival will nurture a building economic recovery.

Richter dismisses talk it is a takeover target for Forest

BUDAPEST (Reuters) - Hungarian drugmaker Richter has dismissed as "entirely unrealistic" market speculation that U.S. peer Forest Laboratories Inc might consider it as a potential takeover target. "We believe that this is entirely unfounded market gossip," Richter spokeswoman Zsuzsa Beke told Reuters on Tuesday in response to a question. "We believe that Forest does not intend to make a hostile takeover, this is entirely unrealistic," she said. Forest was not immediately available for comment.
Syndicate content