Australia&#39;s S&amp;P/ASX 200 Advances, Led by Foodland Associated
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Australia&#39;s S&amp;P/ASX 200 Index rose to a record. Foodland Associated Ltd. surged after Metcash Trading Ltd., the nation&#39;s biggest grocery wholesaler, offered A$846 million ($660 million) for Foodland&#39;s local business.
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Foodland Associated has been making inroads in New Zealand and this may help strengthen its position in Australia, where it faces fierce competition from bigger rivals, such as Coles.
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Chips are being credited with keeping the Nasdaq and, by extension, our InformationWeek 100 above water at the close. But in reality, the Nasdaq passed most of Monday much higher than the mean sea level.
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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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SYDNEY (Dow Jones)--Shares in Australian grocery and liquor wholesaler Metcash Trading Ltd. (MTT.AU) opened up 12% after their trading halt was lifted Tuesday following the company&#39;s bid for Foodland Associated Ltd.
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Metcash Trading, Australia&#39;s largest grocery wholesaler, has made a surprise A$846m (US$661m) takeover bid for the local operations of Foodland Associated, the country&#39;s third largest
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The action continued in after hours trading, where the company gained another US cent. The company saw stocks climb $2.33 during the day, a 4.86 per cent increase.
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Consumer goods marketing and distribution company Metcash Trading Ltd said today that it had made an $A846 million ($NZ926.20 million) takeover offer for Foodland Associated Ltd&#39;s Australian business.
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Australia&#39;s S&amp;P/ASX 200 Index had its biggest drop in three months, led by BHP Billiton, on concern record high oil prices will slow global economic growth and demand for commodities.
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National Foods Ltd., Australia&#39;s biggest fresh milk producer, said its shares are worth as much as 22 percent more than Fonterra Cooperative Group Ltd.
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Over the past six months, the usual strict hierarchies of the chip world have seen some rearranging. Perennial underdog Advanced Micro Devices (AMD:NYSE - news - research) has made impressive strides with
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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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SYDNEY: Metcash Trading Ltd has launched an A$846mil bid for the Australian local arm of rival Foodland Associated with the aim of cementing its position as the country&#39;s third food and liquor chain.
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SYDNEY: Shares in Australian grocery food chain Foodland Associated Ltd were placed in a trading halt on Monday after a takeover offer from Metcash Trading Ltd.
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Shares in takeover target National Foods have pushed further ahead on the Australian Stock Exchange. Yesterday, they surged more than 5 per cent higher to $6.25, after Philippine food and drink giant San Miguel
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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.