Rival bid turns up heat on Fonterra
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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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The battle over Rio Tinto intensified after BHP Billiton increased its takeover offer to about $147 billion after a Chinese rival bought a stake last week.
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National Foods Ltd., Australia&#39;s biggest publicly traded dairy company, said Fonterra Cooperative Group Ltd.&#39;sA$1.3 billion ($1 billion) takeover offer is ``grossly inadequate&#39;&#39; and offered
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I note that dairy farmers are expecting to get an extra $1.5 billion over the next year from Fonterra because of higher world prices for dairy products. Good for them.   But $1.5 billion spread over about 12,000 dairy farmers is unlikely to be saved.
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Dairy giant Fonterra has reaffirmed its commitment to taking over Australian dairy company National Foods despite the initial catalyst for the bid no longer being a factor.
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The season may be still in its early stages but the race for the Scudetto looks more and more like a two-horse race between Juventus and AC Milan.
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MELBOURNE (Dow Jones)--Stepping up its takeover defense from predator New Zealand Fonterra Cooperative Group Ltd. (FCO.YY), Australian dairy target National Foods Ltd.
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Competition gets heated between two public REITs in their efforts to acquire Mills.
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Fonterra Cooperative Group Ltd., the world&#39;s largest dairy exporter, offered A$1.62 billion ($1.2 billion) for National Foods Ltd.
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The move by the consortium of banks, which is led by the Royal Bank of Scotland Group, is intended to help it prevail in a bidding war with Barclays.
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England&#39;s friendly with Spain tomorrow night has been overshadowed by a row between Madrid and London Olympic officials. They have clashed over the use of the match to promote the Spanish city&#39;s bid for the 2012 Games.
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The European Commission first expects to make a decision next week on competition issues raised by the bid from Spain&#39;s Santander Central Hispano for Abbey National, a spokeswoman says.
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Despite generous offer, software company says rival bids could emerge.
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The company is trying to look strong in a land of subsidies and stiff competition.
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The Spanish striker has been the subject of a Â£3.5m bid from the Reds this week and has pleaded with Madrid to be &#39;realistic&#39; as reports suggest they want double that price.
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SYDNEY, NOV 28: New Zealand dairy giant Fonterra said on Sunday it would only raise its A$1.6 billion ($1.3 billion) bid for Australiaâs top milk producer, National Foods Ltd, in the unlikely event that a rival suitor emerged.
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The Spanish bank poised to take over Britain&#39;s Abbey National will walk away if the Â£8.2bn (â¬12.1bn) deal is stalled by competition concerns, it was reported today.