World Business Briefing: Britain: Tobacco Company Confirms Takeover Bid
240962
The Gallaher Group, maker of Benson & Hedges and Silk Cut cigarettes, confirmed that it had received a takeover approach from a bidder it did not identify, setting off a 22 percent gain in its share price. Gallaher confirmed the bid in a statement to the London Stock Exchange after the market closed Wednesday. The bid reinforced recent speculation that the tobacco industry is due for consolidation and shares rose across the sector. ÂWe see the tobacco sector broadly benefiting from the Gallaher approach,Â said a Goldman Sachs analyst, Mark Lynch. ÂExpectations of industry consolidation have been widespread for many years.Â Analysts said one potential bidder for Gallaher would be Japan Tobacco. Gallaher has long been linked to Japan Tobacco, as it holds the right to market and sell Japan TobaccoÂs Camel cigarettes in parts of Europe. Credit Suisse said a tie-up between the two would be a Âparticularly good strategic fit.Â It would address Japan TobaccoÂs subscale position in Western Europe and strengthen its competitive position in Eastern Europe, the brokerage firm said.
741286
Japan Tobacco Inc. confirmed on Friday it was in talks to buy smaller rival Gallaher Group Plc L> , in a 7.5 billion pound ($14.7 billion) deal that would extend its overseas expansion.
260481
Silk Cut cigarette maker Gallaher receives a takeover approach, which values the company at Â£7.5bn.
635136
The board of British insurer Resolution  has backed a cash-and-shares takeover bid from rival Standard Life , sources familiar with the matter said on Friday.
210071
Japan Tobacco buys the UK tobacco firm Gallaher for $19bn in an all-cash deal.
343033
Britain's Imperial Tobacco has agreed to buy Franco-Spanish rival Altadis for Â£11bn.
195049
Birmingham confirm they have been approached about a possible takeover bid.
86113
Casino operator Stanley Leisure says it has agreed a takeover offer from Malaysian gaming firm Genting.
505160
British brewer Scottish & Newcastle said Friday it had accepted a 7.8 billion pound (10.5 billion euro, 15.5 billion dollar) takeover bid by Carlsberg of Denmark and Heineken of the Netherlands.
61044
If approved, the deal would be the largest acquisition in the European tobacco industry.
558177
Brewer Scottish & Newcastle said Friday it had accepted a 7.8 billion pound takeover bid by Carlsberg of Denmark and Heineken of the Netherlands.
388207
French-Spanish tobacco company Altadis has accepted a takeover bid from Britain&#39;s Imperial Tobacco valuing the company at 16.2 billion euros (22.4 billion dollars), Imperial Tobacco announced Wednesday.
558271
LONDON, October 26  - The world&#39;s second-largest cigarette maker, British American Tobacco Plc (BMT.ETR) reported a 13.
330226
Britainâs largest brewer, agreed to a Â£7.8 billion ($15.4 billion) takeover by the European rivals Carlsberg and Heineken.
698128
British American Tobacco Plc, the world&#39;s second-largest cigarette maker, said third-quarter profit gained 60 percent as the acquisition of Italy&#39;s largest tobacco company added to revenue.
469055
Virgin Media, the British cable company whose largest investor is Richard Branson, said that it had received a takeover proposal.
524841
Britain's Imperial Tobacco  agreed to buy Commonwealth Brands, the fourth-biggest cigarette maker in the United States, but its shares fell on Thursday as speculation faded it might be a bid target itself.