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France's Iliad makes takeover bid for T-Mobile US
2014-07-31 18:50:00| Telecompaper Headlines
(Telecompaper) French operator Iliad, know under the brand Free, has made a takeover bid for T-Mobile US. The surprise offer marks Iliad's first expansion outside its home market, where it first broke open the triple-play market and then drove down prices in the mobile market by becoming the fourth network operator. Iliad said T-Mobile's 'unCarrier' strategy has many similarities to its own development in France. The French company is offering USD 15 billion for 56.6 percent of T-Mobile US, equal to USD 33.0 per share. It values the remainder of T-Mobile at USD 40.5 per share, based on an estimated UD 10 billion in synergies. This results in a total price of USD 36.2 per share, a premium of 42 percent on T-Mobile's share price in December 2013 when reports first emerged of Sprint's interest in T-Mobile. Iliad said it would finance the cash offer in a combination of debt and internal resources and has secured the support of international banks for the loans. Around EUR 2 billion would come from a capital increase at the French company, in which controlling shareholder Xavier Niel has pledged his participation. Iliad said it does not expect any regulatory problems with the acquisition, given it currently has no presence in the US.
Time Warner rejects 20th Century Fox takeover bid
2014-07-16 16:20:00| Telecompaper Headlines
(Telecompaper) Time Warner announced that it rejected an unsolicited takeover offer from 21st Century Fox. The latter offered 1.531 of its own Class A non-voting shares and USD 32.42 in cash for each Time Warner share. Time Warner concluded that this did not provide sufficient value for shareholders. It decided not to enter into negotiations with 21st Century Fox, as the board expects that Fox will not be able to offer a significantly better bid. In addition to preferring its own strategy, Time Warner questioned the value of Fox's shares, recentl created from the break-up of News Corp, and Fox's ability to lead the bigger company created from a merger with Time Warner. Fox confirmed it made the offer last month, and the companies are no longer in talks.
Goodman Fielder agrees to takeover bid from Wilmar and First Pacific
2014-07-03 21:03:54| Food - Topix.net
Iconic Australian food maker Goodman Fielder has finally agreed to an A$1.34bn offer by Wilmar International and First Pacific Company to acquire the company after the last two bids were turned down.
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Mothercare rejects 266m takeover bid
2014-07-02 09:26:07| BBC News | Business | UK Edition
Mothercare has rejected two takeover proposals from US rival Destination Maternity which value the mother and baby products retailer at 266m
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mothercare
Goodman Fielder accepts lower takeover bid
2014-07-02 04:32:41| Food - Topix.net
Shares in struggling food maker Goodman Fielder have dropped more than four per cent on news it is poised to accept a lower takeover offer from two Asian companies.
Tags: lower
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