San Miguel may bid for 40% stake in Del Monte Pacific
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SINGAPORE : The Philippines&#39; largest food and beverage group, San Miguel Corp, says it may bid for a 40 percent stake in Singapore-listed Del Monte Pacific.
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Del Monte (DLM:NYSE - news - research) Thursday reported higher second-quarter profit, but guided below analysts expectations for the third quarter, saying &quot;higher than anticipated energy and logistics costs will put pressure on our bottom-line.
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The seasoned company delivers a quarter that investors should find, well, muy caliente.
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The San Miguel Corporation, the food and beverage conglomerate based in the Philippines, is discussing selling its stake in National Foods of Australia to the Kirin Holdings Company, the Japanese brewing company. San Miguel told the Philippine Stock Exchange that the talks with Kirin were preliminary. Kirin, one of the largest shareholders in San Miguel, confirmed that it was in early talks regarding investing in San Miguel, but said that nothing had been decided.
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San Miguel Corp. , Asia's  biggest food and drinks group, has agreed to sell its 65  percent stake in a soft drinks venture with Coca Cola Co.   to the U.S. giant for around $700 million, industry  sources said.
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BHP Billiton Ltd. , the  world&#39;s largest mining group, is considering a bid to rival a  $28.7 billion offer for aluminum producer Alcan Inc. ,  and has hired investment bank Merrill Lynch & Co. ,  sources familiar with the matter said.
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According to sources close to the Contra Costa Times, the San Francisco Giants are on the verge of signing outfielder Moises Alou.
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A U.S. private investment company appears to be trying to grab a larger stake of Japan's NEC Electronics.
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Icelandic retail investor Baugur says it may make a joint bid for luxury US department store chain Saks.
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A group led by Kohlberg Kravis Roberts & Company and the Texas Pacific Group is near a deal to acquire the TXU Corporation.
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A consortium of investors led by Vornado Realty Trust planned to raise its bid for Equity Office Properties Group to more than $40 billion.
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Southeast Asian food and beverage giant San Miguel Corp. launched aA$1.78 billion ($1.37 billion) bid for Australian dairy group National Foods Ltd.
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San Miguel, the Philippines-based food and drinks group, has emerged as a white knight for National Foods, on Thursday unveiling aA$1.78bn ($1.37bn) recommended offer for the Australian dairy producer.
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Texas Pacific and KKR could announce the biggest private equity buyout ever as soon as Monday.
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An acquisition focuses on a market with strong growth potential.
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A $55 million purchase could be bigger than investors think.
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Mining giants BHP Billiton and Rio Tinto are reportedly preparing rival $40m takeover bids for US firm Alcoa.