Fonterra Takeover Bid &quot;Grossly Inadequate&quot;: Nat Foods
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Dairy processor National Foods has again called for shareholders to reject the takeover bid of New Zealand dairy giant, Fonterra. The company has told a shareholder meeting in Adelaide the $5.45 a share bid made by Fonterra is grossly inadequate.
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Australian nickel and copper miner WMC Resources has rejected aA$7.4 billion (3 billion pounds) takeover bid from Swiss-based Xstrata, but has left the door open for a higher offer.
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Britain&#39;s Cadbury Schweppes Plc   rejected a private equity bid for its North American drinks  unit over the terms rather than price after it was asked to  finance a third of the deal, industry sources said on Friday.
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Coles Myer, the Australian retailer, rejected a $13 billion offer from buyout firms led by Kohlberg Kravis Roberts & Company as too low. The offer, 14.50 Australian dollars ($11.16) a share, Âsubstantially undervaluedÂ the company, said Coles MyerÂs chairman, Richard H. Allert. The bidding group, which includes Bain Capital and the Blackstone Group, wanted management backing for the offer, Mr. Allert said. Coles Myer, which is based in Melbourne, has about 35 percent of AustraliaÂs grocery market, and Woolworths, based in Sydney, has about 40 percent.
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MELBOURNE - Australian dairy group National Foods says it is in talks to take over food processing company SPC Ardmona, which has a market value of A$380 million ($408 million).
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It is the kind of takeover bid that shareholders dream of, with a suitor offering a healthy premium. So why is the targetâs board dead set against it?
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British brewer Scottish and Newcastle on Thursday rejected a takeover bid from Denmark's Carlsberg and Dutch peer Heineken worth 6.8 billion pounds (9.7 billion euros, 13.9 billion dollars).
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Business & money: Takeover battle looms after investment fund backed by government of Qatar confirms it is considering a Â£12bn bid for the supermarket chain.
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Australia's second-biggest retailer,  Coles Myer Ltd., on Wednesday rejected a A$17.3 billion ($13.3  billion) buyout bid by a private equity consortium, saying it  substantially undervalued the company.
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Shares in Dairy Crest crumbled 18% today after the loss of a major contract with supermarket giant Tesco left investors crying over spilt milk.
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Fonterra&#39;s hostile bid for Australia&#39;s National Foods hangs in the balance after a rival friendly takeover offer from Philippines soft drink and beer giant San Miguel.
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FOODLAND Associated chief Trevor Coates has flagged an interest in buying Metcash Trading after revealing weak second-half earnings for the Australian business, as speculation about his own tenure continued.
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AILING supermarket chain Sainsbury&#39;s is the target of a Â£5bn takeover bid being prepared by an ex-treasurer of the Conservative Party, it was reported yesterday.
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Australia second largest retailer Coles Myer has rejected what it termed a &quot;highly conditional&quot; takeover bid from a buy-out consortium, saying it substantially undervalued the company.
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SYDNEY: Australian dairy group and takeover target National Foods Ltd said today that New Zealand dairy giant Fonterra&#39;s $A1.6 billion bid is too low and its shares are worth $A6.11 to $A6.65 each.
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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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LONDON/NEW DELHI  - Virgin Group will try to win over shareholders with a sweetened bid for Northern Rock on the eve of a speech by the British Chancellor to Parliament about the struggling UK bank, an unsourced Sunday Times report said.