Danone-Wahaha joint venture row drags on
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The bitter dispute between French food and beverage maker Groupe Danone SA and its Chinese joint venture partner Wahaha has deepened, with Wahaha's labor union saying it is suing Danone.
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The aluminum producer Alcoa said in a statement that it would continue to pursue its $27.4 billion cash and stock bid for a rival, Alcan, despite the Canadian companyâs rejection of the offer. But Alcoaâs chairman and chief executive, Alain J. P. Belda, said that the company would not enhance the proposal, which Alcan called inadequate. âWe have studied Alcanâs response and have not seen anything that would lead us to re-evaluate our offer,â Mr. Belda said. He also rejected suggestions by Alcan that Alcoa would have difficulty obtaining antitrust approval for the merger and urged Alcanâs board to resume its examination of the bid.
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The athletic shoe and apparel retailer continues its struggles.
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Danone, the world's second largest bottled water business, stunned analysts last week by announcing that it will sell its water activities in Italy - Europe's largest bottled water market.
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The California network-equipment maker says the $2.2 billion deal to be acquired by a Chinese telecom won't proceed, because federal authorities reviewing the proposed sale said security issues can't be resolved.
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The company has been rebuffed in Australia as it tries to grow.
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A plan to split ItalyÂs largest phone company into separate mobile and fixed-line units has led to a political slugfest.
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The company has posted impressive growth, but the industry is struggling.
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Even as the options-backdating scandal continues to grow, law firms that represent shareholders are struggling to find a foothold.
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TORONTO - The hearing into insider trading allegations leveled against the chairman of ATI Technologies has been pushed back until March 29.
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The tax specialist continues to struggle with certain non-tax business units.
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Bulging costs keep the drugmaker from showing a profit.
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Shareholders of Sunrise Senior Living may have been eager to hear from their companyâs executives and board this year, but no meeting has been scheduled.
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(InfoWorld) - Alcatel SA and Lucent Technologies Inc.'s plan to form a global communications equipment giant may run into a roadblock next week in a state court in New Jersey. The companies face a showdown Sept. 6 with shareholders who want to postpone Lucent's Sept. 7 shareholder meeting on the merger as they pursue lawsuits to block it. The Superior Court of New Jersey in Union County is set to hear arguments that day on whether to grant an injunction sought in a proposed class-action suit, Resnick vs. Lucent Technologies Inc. On Thursday, the plaintiffs in another suit, filed in New York, agreed to join in on that hearing. Alcatel and Lucent announced in April that they had agreed to merge into a single company, based in Paris, that would have about US$25 billion in annual revenue. Lucent has struggled in the wake of the post-2000 telecom crash, and the deal is also seen as an outgrowth of consolidation among the carriers that buy from big equipment companies such as Alcatel and Lucent. But the merger, now heading for votes by shareholders in both companies, has been criticized and still faces some hurdles. The stocks of both companies have fallen since the deal was announced, and some investment firms have spoken out against the merger. The European Commission and the U.S. Federal Trade Commission have both approved the deal, but it still needs approval from the Committee on Foreign Investment in the United States. Both companies have scheduled shareholder meetings on Sept. 7 to vote on the deal. In May, the Asa R. Maley Trust sued Lucent and several of its executives in U.S. District Court for the Southern District of New York, alleging they made a deal that would benefit executives and hurt shareholders. The plaintiffs sought class-action status. "In essence, the proposed Acquisition is the product of a hopelessly flawed process that was designed to ensure the sale of Lucent to one buyer, on terms preferential to Alcatel and to subvert the interests of plaintiff and the other public stockholders of Lucent," the plaintiffs said in their complaint. On Thursday, the attorneys in the Maley case agreed to serve as co-counsel for the plaintiffs in the similar Resnick case and will submit their papers for the Sept. 6 hearing in New Jersey. Lucent is based in Murray Hill, New Jersey. In a U.S. Securities and Exchange Commission filing on Tuesday, Lucent said the Resnick suit was without merit and it has substantial defenses to the claims. In a response to the Maley case earlier this month, the company told the New York court that the Maley case should be dismissed.
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The women's apparel retailer continues to struggle.
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The company says it is discussing a settlement with the Justice Department.
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Companies push back a deadline in the their trademark fight in hopes of achieving a settlement.