Westfield lands $1.48b. knock out blow to Multiplex
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Westfield Group has upped the ante in its expansion plans into the United Kingdom retail market with a $1.48 billion cash bid to buy out Duelguide plc, the company which owns retail property group Chelsfield plc.
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Coles Myer, the Australian retailer, rejected a $13 billion offer from buyout firms led by Kohlberg Kravis Roberts & Company as too low. The offer, 14.50 Australian dollars ($11.16) a share, Âsubstantially undervaluedÂ the company, said Coles MyerÂs chairman, Richard H. Allert. The bidding group, which includes Bain Capital and the Blackstone Group, wanted management backing for the offer, Mr. Allert said. Coles Myer, which is based in Melbourne, has about 35 percent of AustraliaÂs grocery market, and Woolworths, based in Sydney, has about 40 percent.
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Woolworths Ltd. won aA$1.3 billion ($997 million) takeover battle against Coles Myer Ltd. for Australian Leisure &amp; Hospitality, cementing its position as the nation&#39;s biggest liquor retailer.
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Apartment hunting in Manhattan can  trigger depression for the budget-minded, but these are heady  times at the top end as The New York Times reported on Friday  that media mogul Rupert Murdoch is set to buy a Fifth Avenue  triplex for $44 million -- in cash.
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Viacom Inc., the media conglomerate that owns CBS and MTV, posted a third-quarter loss of $487.6 million Thursday as its earnings were hit by a $1.
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Canada-based Brookfield Asset Management  Inc. (BAMa.TO) made an approach to buy out Australia's  Multiplex Ltd. , sending shares in the A$4 billion ($3  billion) construction and property firm up as much as 8  percent.
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Multiplex Group and Russian billionaire brothers David and Simon Reuben joined Westfield Group&#39;s Â£585 million ($1.54 billion) bid for Chelsfield after striking a deal to carve up the UK property developer.
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CONSTRUCTION giant Multiplex was assessing at the weekend whether to top Westfield&#39;s Â£585 million ($1.5 billion) bid for the British property group Chelsfield.
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Westfield Group, the world&#39;s biggest owner of shopping malls by market value, teamed up with Multiplex Group, an Australian property developer, and David and Simon Reuben to bid for Chelsfield Plc, a UK property developer.
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Sportswear retailer suffers another damaging blow.
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Australian shopping center giant Westfield is teaming up with property group Multiplex and Aldersgate Investments to make a cash offer for Duelguide, the company which owns British developer Chelsfield.
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Woolworths Ltd., Australia&#39;s biggest grocer, may be drawn into a bidding war for Australian Leisure &amp; Hospitality Group, after US buyout firm Newbridge Capital made aA$1.
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The retailer's same-store sales plummet.
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The Motley Fool - The Olympic Games are now history, but not AT&amp;T's (NYSE: T - News) &#36;25 million ad campaign to redefine its image. After years of getting clobbered by the regional Bell companies such as BellSouth (NYSE: BLS - News), Verizon (NYSE: VZ - News), Sprint (NYSE: FON - News), and MCI (Nasdaq: MCIP - News), the company has turned its business focus from traditional phone service to networking.
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Canada-based Brookfield Asset Management Inc.  has made a takeover approach for Australia's A$4 billion ($3.1 billion) Multiplex Group Ltd. , the construction and property group said, sending its shares up 7.5 percent.
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Western Digital buys rival Komag for $1 billion in latest industry consolidation.
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MULTIPLEX Group yesterday announced a $1.33 billion friendly takeover of Ronin Property Group and kicked off the process with the $207 million purchase of a substantial stake in the target from its major stakeholder.