Monday, February 27, 2006
BBC NEWS | Business | Pilkington in Japanese takeover
Sunday, February 26, 2006
The Observer | Business | Macquarie links with Spanish for �15bn BAA bid
BBC NEWS | Business | French energy deal irks Italians
Saturday, February 25, 2006
Top 10 questions for this year's agm
Telegraph | Money | City sandwich: "TheHopeReport
Well, here we go again. It's the time of year when the chairmen of some of our biggest companies prepare to face their shareholders at this year's annual meeting in the next 12 weeks.
Those of us who cling to the belief that shareholder democracy is still alive at UK plc attend these meetings in the hope that investors will make their boards sweat.
This doesn't always happen of course, not least because the biggest companies ensure that their chairmen are primed for the toughest questions by their investor relations team and highly paid PR advisers.
So, to make the battle more equal, here is a cut-out-and-keep list of the top 10 questions to make the chairmen squirm:
1. Which shareholders are most loyal to you, institutions or individuals?
2. Do you know what percentage of the company's shares is actually owned/controlled by hedge funds?
3. How often does the senior non-executive director meet private investors?
4. Do you think your company's registrar is doing a good job?
5. Why is there so much stuff in the annual report about corporate governance and corporate social responsibility, and not more about strategy?
6. Is your company committed to automatically reinvesting dividends in more shares for private investors?
7. Private shareholders at Shell and Hilton have found themselves facing large tax bills. Does the board agree it has a moral responsibility to offer options that are as tax efficient as possible for the individual investor?
8. If I was having breakfast with Gordon Brown this morning, I would tell him that he needs to cut capital gains tax, inheritance tax and council tax. Which three corporate breaks would the board ask for from the Chancellor?"
Well, here we go again. It's the time of year when the chairmen of some of our biggest companies prepare to face their shareholders at this year's annual meeting in the next 12 weeks.
Those of us who cling to the belief that shareholder democracy is still alive at UK plc attend these meetings in the hope that investors will make their boards sweat.
This doesn't always happen of course, not least because the biggest companies ensure that their chairmen are primed for the toughest questions by their investor relations team and highly paid PR advisers.
So, to make the battle more equal, here is a cut-out-and-keep list of the top 10 questions to make the chairmen squirm:
1. Which shareholders are most loyal to you, institutions or individuals?
2. Do you know what percentage of the company's shares is actually owned/controlled by hedge funds?
3. How often does the senior non-executive director meet private investors?
4. Do you think your company's registrar is doing a good job?
5. Why is there so much stuff in the annual report about corporate governance and corporate social responsibility, and not more about strategy?
6. Is your company committed to automatically reinvesting dividends in more shares for private investors?
7. Private shareholders at Shell and Hilton have found themselves facing large tax bills. Does the board agree it has a moral responsibility to offer options that are as tax efficient as possible for the individual investor?
8. If I was having breakfast with Gordon Brown this morning, I would tell him that he needs to cut capital gains tax, inheritance tax and council tax. Which three corporate breaks would the board ask for from the Chancellor?"
On the frontline of hostile bids
IR magazine- a Cross Border publication: "On the frontline of hostile bids "
Opening China's gates
Friday, February 24, 2006
GlobalCustodian.com - ADP Provides Proxy Voting Services For KAS Bank
GlobalCustodian.com - European Securities Forum (ESF) Publishes 2006 Action Plan
Telegraph | Money | Skyepharma lobbies investors as showdown with rebels nears
Thursday, February 23, 2006
FT.com / By industry / Financial services - HSBC overhauls structure of its investment bank
Modern methods - article by Tom Morrison
AngloGold free to pursue acquisitions after Anglo American share sale
StoryAngloGold Ashanti will be free to pursue acquisitions after Anglo American reduces its 51% shareholding in the group, a Financial Times report said. The item quoted Anglo American chief executive Tony Trahar who said Anglo American�s stake in the South African mining group had held it back from participating in deals funded by equity. Trahar commented that Anglo American, the UK-listed mining group, might eventually have a smaller shareholding in a bigger company, referring to AngloGold Ashanti.
Anglo�s shareholding in AngloGold is believed to be worth approximately USD 7bn, the item said. Anglo American declined to say how much of its stake it would sell.
SourceFinancial Times
ValueUSD 7,000m (estimated value of Anglo American's 51% stake in AngloGold Ashanti (Financial Times)) "
Anglo�s shareholding in AngloGold is believed to be worth approximately USD 7bn, the item said. Anglo American declined to say how much of its stake it would sell.
SourceFinancial Times
ValueUSD 7,000m (estimated value of Anglo American's 51% stake in AngloGold Ashanti (Financial Times)) "
ScottishPower may merge with rival Scottish & Southern Energy in GBP 20bn deal – report
Story ScottishPower saw its share price rise to 591.5p yesterday after reports suggested that it could be preparing for a merger, the Guardian reported. Speculation is that the listed UK-based electricity group ScottishPower might merge with its rival Scottish & Southern Energy in a GBP 20bn (EUR 29bn) deal. Scottish and Southern Energy's market capitalisation stands at GBP 9.85bn (EUR 14.4bn).
The Glasgow Herald also noted the chatter and dismissal of it by a ScottishPower spokesperson. ScottishPower and SSE shares were both up yesterday, the item noted.
Were the two Scottish companies to come together, they would forge the largest power group in the UK, the report said. Another likely outcome would be a political outcry due to the potential for job losses, the item said, without sourcing that prediction.
Source The Guardian, Glasgow Herald
Value GBP 9,856m (Scottish & Southern Energy market capitalisation)
The Glasgow Herald also noted the chatter and dismissal of it by a ScottishPower spokesperson. ScottishPower and SSE shares were both up yesterday, the item noted.
Were the two Scottish companies to come together, they would forge the largest power group in the UK, the report said. Another likely outcome would be a political outcry due to the potential for job losses, the item said, without sourcing that prediction.
Source The Guardian, Glasgow Herald
Value GBP 9,856m (Scottish & Southern Energy market capitalisation)
FT.com / Lex - Lex: HSBC investment banking
Telegraph | Money | We want our shares, say Qinetiq investors
Wednesday, February 22, 2006
Deutsche Boerse officially proposes merger with Euronext
Deutsche Boerse officially proposes merger with Euronext
Story Deutsche Boerse has officially proposed a merger with pan-European counterpart Euronext, according to a Financial Times Deutschland report. The listed German stock exchange issued a statement which said that a merger with Euronext would be the “most attractive” scenario for both stock exchanges. The report noted that the chief executive of Deutsche Boerse, Reto Francioni, wants to hold talks with Euronext about his plans. Euronext has so far stated it would be interested in a merger with London Stock Exchange (LSE), whereas several hedge fund shareholders of Euronext prefer a merger with Deutsche Boerse. The report added that Francioni mentioned he wants the merged stock exchange to be headquartered in the city of Frankfurt and the clearing and settlement operations would not be disposed of. The report mentioned that in the event of a merger, the New York Stock Exchange could be interested in the new business at a later time.
Source Financial Times Deutschland
Value
Story Deutsche Boerse has officially proposed a merger with pan-European counterpart Euronext, according to a Financial Times Deutschland report. The listed German stock exchange issued a statement which said that a merger with Euronext would be the “most attractive” scenario for both stock exchanges. The report noted that the chief executive of Deutsche Boerse, Reto Francioni, wants to hold talks with Euronext about his plans. Euronext has so far stated it would be interested in a merger with London Stock Exchange (LSE), whereas several hedge fund shareholders of Euronext prefer a merger with Deutsche Boerse. The report added that Francioni mentioned he wants the merged stock exchange to be headquartered in the city of Frankfurt and the clearing and settlement operations would not be disposed of. The report mentioned that in the event of a merger, the New York Stock Exchange could be interested in the new business at a later time.
Source Financial Times Deutschland
Value
Tuesday, February 21, 2006
Eircom confirms takeover talks - again | The Register
BBC NEWS | Business | E.ON in $35bn Endesa takeover bid
Monday, February 20, 2006
Telegraph | Money | TNT to delist from London and Frankfurt
Macquarie signals end to LSE bid
Lonmin: Gold Fields may fund bid by selling assets to Polyus – report
mergermarket.com: "Lonmin: Gold Fields may fund bid by selling assets to Polyus � report "
BOC Shares Gain on Report It Agreed to Linde Offer
Sunday, February 19, 2006
Standard Life 'may never get to the stock market'
Aim steps out of the shadows | This is Money
Friday, February 17, 2006
BBC NEWS | Business | Lonmin talks spark share frenzy
BBC NEWS | Business | Reform go-ahead for Russia market
Vyugin Warns Cabinet of 'Volatile' Markets
Burger King files its initial public offering
Bank of China seals agreements on IPO
Telegraph | Money | LSE doubles cashback to �500m to try to fend off Macquarie bid
Thursday, February 16, 2006
Rio Tinto may evaluate a Russian mineral fertilizer producer after failed bid
mergermarket.com: "Rio Tinto may evaluate a Russian mineral fertilizer producer after failed bid "
Rosneft to Lead 2006 Surge in Russian Share Sales -- in London
Wednesday, February 15, 2006
BBC NEWS | Business | Rightmove unveils float plans
Kommersant: LUKOIL Full of Good News
Vimpelcom could see its smaller shareholders reject the offer for Kyivstar
FT.com / Lex - Lex live: Chinese banks
Tuesday, February 14, 2006
Lukoil plans large acquisitions in Europe and USA
LSE: Macquarie to increase offer next week; NYSE bid could face severe regulatory hurdles – reports
mergermarket.com: "LSE: Macquarie to increase offer next week; NYSE bid could face severe regulatory hurdles � reports "
EU official pushes for shareholder accountability
IR magazine- a Cross Border publication: "EU official pushes for shareholder accountability "
Errors in voting at Australian AGMs
VimpelCom Bids for Kyivstar
Saturday, February 11, 2006
BBC NEWS | Business | Rival bows out of P&O bid battle
Friday, February 10, 2006
BBC NEWS | Business | O2 exits stock market next month
BBC NEWS | Business | Air China seeks mainland listing
Thursday, February 09, 2006
RBS - Citi rumoured to be bidder - LTSB up again on bid sentiment
Banking stocks were also in demand, with the day's bid spotlight falling on Royal Bank of Scotland, up 42 pence at 1788 amid talk of a bid from Citigroup.
Lloyds TSB meanwhile continued to benefit from bid speculation, up 16 pence at 549, while perennial takeover favourite Standard Chartered added 45 pence to 1442.
Lloyds TSB meanwhile continued to benefit from bid speculation, up 16 pence at 549, while perennial takeover favourite Standard Chartered added 45 pence to 1442.
Lloyds TSB: ABN Amro emerges as another potential bidder – report
Story Lloyds TSB, the UK banking group, saw its shares rise by another 1.7% as talks continued that the bank would receive a bid from BBVA, the Financial Times reported.
The report also pointed to ABN Amro as another potential bidder.
Source Financial Times
Value GBP 30,502m (Lloyds TSB market capitalisation)
The report also pointed to ABN Amro as another potential bidder.
Source Financial Times
Value GBP 30,502m (Lloyds TSB market capitalisation)
Kommersant: Aeroflot Up at 3rd Effort
BBC NEWS | Business | Unilever to sell Birds Eye brand
Wednesday, February 08, 2006
Kommersant: Rosneft Loses Touch with Investors
Russia's TMK upbeat on '05 and growth, eyes IPO
Bogdanchikov: IPO Plans on Track
Telegraph | Money | Vonage plans $250m float to capitalise on VoIP demand
BBC NEWS | Business | Spanish firm eyes up BAA airports
BBC NEWS | Business | Centrica shares soar on bid story
FT.com / Equities / Asia-Pacific - India set to raise $10bn in share issues
Polyus Reserves Soar, Production Plunges
Glitch Halts RTS Trading
FT.com / By industry / Energy Utilities Mining - Gazprom warned over Centrica takeover
Tuesday, February 07, 2006
FT.com / By region / UK - Celtic Resources sells Russian gold mine stake to Norilsk for $80m
Kommersant: Gazprom Arranges Prepurchase for Centrica
BBC NEWS | UK | Lift veil on City secrecy - TUC
Monday, February 06, 2006
Vimpelcom could be take over by Telenor or become an independent company
Story Telenor, the Norwegian telecom company, could end up taking over the Russian telco, Vimpelcom, according to Dagens Naeringsliv.
The paper cited Vimpelcom’s managing director, Aleksander Izosimov, who said that he did not believe that Telenor and its rival within Vimpelcom, Alfa Group, will ever come to an agreement. He said that he saw two alternatives for the Russian company, one of which involves Telenor taking full control of Vimpelcom which would become a subsidiary of the Norwegian company. He said that the other alternative is that both Telenor and Alfa Group sell its stake and that Vimpelcom becomes an independent company. The paper reported that Izosimov did not see Alfa Group taking over Vimplecom as an option.
Source Dagens Naeringsliv
Value EUR 245m (price of Vimplecoms URS acquisition
The paper cited Vimpelcom’s managing director, Aleksander Izosimov, who said that he did not believe that Telenor and its rival within Vimpelcom, Alfa Group, will ever come to an agreement. He said that he saw two alternatives for the Russian company, one of which involves Telenor taking full control of Vimpelcom which would become a subsidiary of the Norwegian company. He said that the other alternative is that both Telenor and Alfa Group sell its stake and that Vimpelcom becomes an independent company. The paper reported that Izosimov did not see Alfa Group taking over Vimplecom as an option.
Source Dagens Naeringsliv
Value EUR 245m (price of Vimplecoms URS acquisition
