Chiofaro files plan to skirt takeover
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International Place developer Donald J. Chiofaro said yesterday a new partner will put a quarter of a billion dollars into his two downtown towers, a financial rescue that would reduce his ownership share considerably but stave off an impending takeover by his current lender.
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Five companies were picked by the government as finalists in the bidding for its stake in Alitalia, the ailing state-controlled carrier. The bidders include the Texas Pacific Group, the private equity firm; UniCredit, the bank; as well as financier Carlo De Benedettiâs Management and Capitali, MatlinPatterson Global Advisers; and Carlo Toto, owner of Italyâs No. 2 carrier, Air One, the finance ministry said. They have until mid-April to submit preliminary offers. Italy decided in December to sell its stake in the countryâs largest airline after the government abandoned turnaround efforts. Alitalia last reported a profit in 2002 and has forecast a loss in 2006.
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Italy's Alitalia aims to slash about a third of its more than 20,000-strong work force and move another third into a spin-off company under a do-or-die rescue plan for the flag airline, union sources say.
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Keith Harris, the City banker and ardent Manchester United supporter, is pursuing a plan to prevent Malcolm Glazer taking over the club by asking Japanese bank Nomura to help give the fans a greater say in any takeover battle.
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The boss of Italy&#39;s troubled Alitalia carrier wants to see the airline&#39;s state holding sold off by the end of the year, he said in an interview published Saturday.
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Altria Group Inc. (MO.N: Quote, Profile, Research) is preparing to split up the company or find another means of &quot;maximizing shareholder value&quot; when tobacco litigation hurdles are cleared
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Tobacco and food giant Altria Group Inc. is moving ahead with preparations to break itself up into two or three businesses, the company&#39;s chairman and CEO said Thursday.
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The head of a British boutique investment bank, Seymour Pierce, is considering a financial restructuring of Manchester United as a possible rival proposal to a planned takeover by US sports tycoon Malcolm Glazer.
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ROME: After winning union backing for job cuts, Alitalia has given formal approval to a four-year business plan aimed at saving the near-bankrupt Italian carrier from collapse.
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American multi-millionaire Malcolm Glazer is set to intensify his campaign to gain control of Manchester United. The sports club tycoon could be about to launch a formal takeover bid this week, despite staunch opposition from United fans.
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The company wants to swallow its largest customer acquisition yet.
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MILAN : Alitalia pursued last-ditch talks with unions, its deadline for clinching a rescue plan or face bankruptcy, a day after winning a key deal with pilots.
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A long-anticipated merger may soon come true.
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Parmalat Finanziaria SpA said Tuesday it is preparing a stock offering, a key step as it seeks to emerge as a new company from a multibillion fraud scandal.
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JC Flowers steps up its efforts to take control of Northern Rock, securing a management team should a deal be done.
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Manchester United, the world's richest football club, said it had received a preliminary take-over approach, following reports that American sports tycoon Malcolm Glazer was plotting to seize control.
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The chief executive of the Altria Group, Louis C. Camilleri, said yesterday that the company might split into two or three independent entities.