Foodland gets offer for Australian unit
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SYDNEY Metcash Trading, Australia&#39;s biggest grocery wholesaler, said Monday that it had offered 846 million Australian dollars, or $660 million, in cash or stock for Foodland Associated&#39;s Australian business, to complete a nationwide distribution network.
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Australasian grocer Foodland Associated which owns major chains in New Zealand says the hostile takeover bid by rival Metcash is complex and risky, and is urging shareholders not to act on the $920 million bid.
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Australian shopping centre giant Westfield Group on Thursday offered 585 million pounds (A$1.48 billion) cash for UK property group Chelsfield as part of an overseas expansion drive, topping a bid from rival Multiplex Ltd.
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THERE&#39;S a sense of deja vu about the Metcash takeover offer for Western Australia-based Foodland Associated, because if Andrew Reitzer and his management team can pull it off it may finally create a competitive national &quot;third force&quot; in retailing to take
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Australian airline Qantas receives a takeover approach from Macquarie bank and Texas International.
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SHARES in grocery wholesaler Metcash Trading jumped 14.6 per cent yesterday as investors welcomed its surprise takeover bid for Foodland Associated&#39;s Australian operations.
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WELLINGTON (Dow Jones)--New Zealand dairy giant Fonterra Co-Operative Group Ltd. (FCG.YY) said Thursday its takeover offer for Australian-based National Foods (NFD.
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Trevor Coates, chief executive of Foodland Associated Ltd., speaks on a teleconference from Sydney about the company&#39;s fiscal full-year earnings.
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SYDNEY, Australia -- Australia's Qantas Airways has been approached by Macquarie Bank and private equity firm Texas Pacific Group about a takeover that analysts said Wednesday could be worth almost 11 billion Australian dollars, or $8.5 billion.
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MELBOURNE/SYDNEY  - Investment bank Macquarie Bank  and private equity firm Texas Pacific Group have proposed buying out Australian airline Qantas Airways  in a deal that could be worth more than A$10 billion ($7.7 billion), pushing Qantas shares up as much as 21 percent.
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Australia&#39;s S&amp;P/ASX 200 Index advanced for a third day and was heading for a record close. Foodland Associated Ltd. rose after full-year earnings climbed 19 percent, helped by one-time gains.
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Shares in Australian flag carrier Qantas have jumped more than four percent amid expectations a takeover consortium is finally ready to formally table a multi-billion dollar offer for the airline.
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Fonterra Cooperative Group Ltd., the world&#39;s biggest dairy exporter, said its A$1.34 billion ($1.01 billion) offer for the rest of National Foods Ltd.
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Woolworths Ltd., Australia&#39;s biggest grocer, increased its offer for Australian Leisure &amp; Hospitality Group to A$1.2 billion ($877 million) to stop rival bidder Coles Myer Ltd.
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NEW YORK/PHILADELPHIA  - At least two bidding groups plan to submit offers on Friday to acquire Cadbury Schweppes Plc's  U.S. beverage unit for as much as $15.8 billion (8 billion pounds), sources familiar with the situation said on Tuesday.
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Metcash Trading Ltd., Australia&#39;s biggest grocery wholesaler, offered A$846 million ($660 million) in cash or stock for Foodland Associated Ltd.
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Australian dairy group National Foods says its shares are worth up to 22% more than a hostile $A1.6 billion takeover offer by New Zealand dairy giant Fonterra.