Metcash Bids A$846 Mln for Foodland&#39;s Australian Unit
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Metcash Trading Ltd., Australia&#39;s biggest grocery wholesaler, offered to buy Foodland Associated Ltd.&#39;s Australian business for A$846 million ($660 million), completing a nationwide distribution
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National Foods Ltd., Australia&#39;s biggest fresh milk producer, ended merger talks with SPC Ardmona Ltd. so investors can consider Fonterra Cooperative Group Ltd.
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Foodland Associated Ltd., which owns supermarkets in Australia and New Zealand, said second-half profit rose 8 percent, boosted by sales of property to a real estate investment trust and reduced borrowing costs.
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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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Australia's second-largest retailer, Coles Group Ltd. , agreed to a A$22 billion ($19 billion) bid, including debt, from conglomerate Wesfarmers Ltd. , in the country's biggest takeover.
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Shares in the Australian subsidiary of Metoz, formerly Metro Cash &amp; Carry, yesterday jumped 15 percent as investors anticipated its takeover target, Foodland
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Australia's competition regulator will not oppose Suncorp-Metway Ltd.'s  planned A$7.36 billion ($5.8 billion) takeover of rival Promina Group  to create the nation's second-biggest car and home insurer.
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Australian wholesaling group Metcash Trading Ltd. launched an audacious A$846 million ($661 million) bid Monday, Dec. 6, to buy the Australian assets of larger rival wholesaler Foodland Associated Ltd.
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NATIONAL Foods hauled up the auction flag yesterday signalling that the Australian dairy giant could change hands for $1.81 billion.
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Stepping up its expansion binge, Southeast Asiaâs largest food and beverage giant San Miguel Corp. (SMC) has launched aA$1.78-billion (US$1.38 billion) takeover bid for Australiaâs
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Fonterra Co-operative Group Ltd, the world&#39;s largest dairy exporter, offered A$1.34 billion (US$1 billion) for the shares it does not own in National Foods Ltd, to expand milk sales in Australia and Asia.
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INDEPENDENT grocery wholesaler Metcash Trading has made a bold bid to become the third force in our supermarket scene behind Woolworths and Coles with a $846 million offer for Foodland yesterday.
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PERTH (Dow Jones)--Buoyed by one-off gains from the sale of property assets and a New Zealand department store business, Australasian retailer Foodland Associated Ltd.
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Management leads a $4.7 billion buyout bid. Are other bids on the way?
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Australiaâs largest airline agreed to an $8.7 billion buyout offer from a consortium led by Macquarie Bank and the Texas Pacific Group.
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MELBOURNE: Global shopping mall owner Westfield Group will team up with Australian developer Multiplex Group to bid Â£585mil (US$1.
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Australia's second-largest retailer Coles Group Ltd.  said on Monday it had agreed a A$22 billion ($18.8 billion) offer from conglomerate Wesfarmers Ltd. , the largest takeover in Australian corporate history.