News Tag: deal
March 1, 2010
Prudential, which is Britain’s second largest insurer, has today confirmed it is to buy AIA, the Asian arm of US company American International Group (AIG), in a deal worth $35.5 billion (£23.3 billion).
In a stock market statement today, Pru said the deal provided it with the opportunity to create South East Asia's leading insurer.
In order to finance the deal, the ...
Prudential in $35.5bn deal with AIA
by Kay Murchie
Prudential in advanced talks with AIA
by Kay Murchie
February 18, 2010
The 10-year search and advertising deal between Microsoft and Yahoo has been approved today by both the US Department of Justice and the European Commission.
Both companies said they plan to begin the tie-up in the next few days and the deal will be finalised by early 2012.
The deal, which was agreed in July 2009, was set up to challenge ...
Microsoft-Yahoo partnership approved by EU and US regulators
by Kay Murchie
January 5, 2010
Swiss food giant Nestlé has declared itself out of the running for British confectioner Cadbury.
Late last year, Nestlé was reported to be the latest company to make an offer for Cadbury after US food giant, Kraft, which is renowned for brands such as Kenco coffee and Oreo biscuits, approached Cadbury in September with an informal £10.2 billion takeover ...
Kraft increases offer for Cadbury as Nestlé withdraws bid
by Kay Murchie
January 4, 2010
Swiss pharmaceuticals group, Novartis International, has started the New Year on a high with one of Europe’s largest ever takeovers.
Novartis has agreed to take full control of Alcon, a leading maker of eye care products, in a deal worth $40 billion (£24.8 billion).
Novartis bought 25% of eye care specialist Alcon, which is also the maker of Opti-Free contact lens cleaners, from ...
Novartis buys Alcon for $40bn
by Kay Murchie
JAL shares recover after Government loans deal
by Kay Murchie
December 2, 2009
It emerged yesterday that Yorkshire Building Society and Chelsea Building Society were in advanced merger talks but today the Yorkshire has revealed that a tie-up would lead to a number of job losses and a £200 million write-down on Chelsea's bad debts.
"The merger will lead to a number of job losses," the two societies warned. “Redundancies will only ...
Yorkshire and Chelsea merger leads to job losses
by Kay Murchie
November 19, 2009
US investment bank JPMorgan is to fully buy Cazenove, the UK broker, in a £1 billion ($1.7 billion) deal.
The deal comes as JPMorgan bought half of Cazenove in 2004 ago and created the JPMorgan Cazenove joint venture. It paid £700 million for the 50% stake.
Under the original terms set five years ago, the US investment bank had until February next ...
JPMorgan reveals £1bn deal to buy Cazenove
by Kay Murchie
November 18, 2009
Asia’s largest carrier, Japan Airlines (JAL), has been offered a $1 billion (£600 million) lifeline from Delta Air Lines and its Sky Team alliance partners.
According to Delta, the rescue package includes a $500 million equity injection, a revenue guarantee worth $300 million, asset-backed funding worth $200 million and $20 million to cover JAL's costs for switching alliances.
Under the terms of the ...
Struggling Japan Airlines offered lifeline
by Kay Murchie
November 12, 2009
British Airways (BA) and Spanish airline Iberia are set to merge following talks at both companies.
Earlier today, BA said: "Further to recent market speculation, British Airways confirms that the British Airways and Iberia Boards are holding separate meetings today, 12 November, to consider a potential transaction.”
However, according to reports in Spanish newspaper, El Pais, Iberia agreed the new airline will ...
BA shares up on Iberia merger talks
by Kay Murchie
HP in $2.7bn deal to buy 3Com
by Kay Murchie
November 9, 2009
Berkshire Hathaway, the investment group controlled by respected US billionaire investor, Warren Buffett, has recovered from its poor performance in 2008 and announced a surge in net profit.
The group said net profit was $3.2 billion (£1.9 billion) in the three months to September, compared to $1.1 billion in the same period a year earlier.
Seventy-nine year old Buffett is often ...
Berkshire Hathaway recovers and sees Q3 profits treble
by Kay Murchie
October 26, 2009
Banking giant Barclays has agreed to buy Standard Life Bank for £226 million.
Standard Life Bank, which is the savings division of Edinburgh-based life insurance company Standard Life, has just 287,000 savings accounts, an £8.8 billion loan book and 78,000 mortgage accounts.
The banking arm is no longer part of the insurer's long-term plans for the business.
The deal is expected to be ...
Barclays buys Standard Life Bank for £226m
by Kay Murchie
October 25, 2009
Barclays has confirmed a 3-year title sponsorship deal of the Premier League worth £82.25 million.
The deal will run from the 2010-11 season until the end of the 2012-13 season. The banking giant has sponsored the Premier League since 2004 and their current three-year contract is worth £65.8 million, but expires next year.
Barclays is one of the few banks that has not ...
Barclays agrees 3-year Premier League deal
by Kay Murchie
October 21, 2009
Online search giant Yahoo has posted its quarter three profits today and exceeded analysts expectations, suggesting that advertisers are spending again.
Yahoo said it earned $186 million (£113.6 million) in the July to September period, more than treble the $54 million earned in the same period of 2008.
Since chief executive Carol Bartz took over earlier this year, the company has undergone a major restructure. ...
Yahoo Q3 profits treble
by Kay Murchie
October 13, 2009
The future of Vauxhall and its 5,500 workers have been safeguarded today after the Unite union announced it has reached a deal with Magna, the Candian car parts firm and proposed new owners of Vauxhall and sister company, Germany-based Opel.
However, in order to protect jobs at both Vauxhall plants (Ellesmere Port and Luton), the union has been ...
Unite reaches deal with Magna to save Vauxhall jobs
by Kay Murchie
September 21, 2009
Dell, which is the world’s second-largest maker of personal computers, is to acquire Perot Systems in a $3.9 billion (£2.4 billion) deal.
Perot Systems, which is based in Texas, was founded by Texas billionaire and former US presidential candidate, Ross Perot.
The company specialises in IT support for hospitals, Government departments and banks.
Dell said it plans to acquire all ordinary shares of ...
Dell acquires Perot in $3.9bn deal
by Kay Murchie
September 13, 2009
Roger Carr, chairman of British confectionery giant Cadbury, described its US rival’s £10.2 billion takeover offer as an “unappealing” and “unattractive prospect”.
Last week, US food giant Kraft, which is renowned for brands such as Kenco coffee, Oreo biscuits, Terry’s Chocolate Orange and Toblerone, approached Cadbury with the unsolicited offer, which the maker of Dairy Milk chocolate, later rejected.
When news of ...
Cadbury describes Kraft bid as ‘unappealing’
by Kay Murchie
September 11, 2009
Supermarket giant Tesco is continuing its expansion into financial services by agreeing a partnership with Fortis, which will form a new motor and household insurance company.
Tesco, which has a 30% share of the grocery market, already offers credit cards, savings accounts and insurance via its Tesco Personal Finance (TPF) brand and announced plans late last year that it ...
Tesco and Fortis team up to form Insurance Partnership
by Kay Murchie
September 7, 2009
British confectionery giant Cadbury has turned down a £10.2 billion takeover offer from Kraft, the US food giant.
Kraft, which is renowned for brands such as Kenco coffee, Oreo biscuits, Terry's Chocolate Orange, Toblerone and cheese products such as Philadelphia and Dairylea, said the takeover would secure UK jobs, while keeping open Cadbury's Somerdale factory, which is currently scheduled to close.
Kraft also ...
Cadbury rejects £10bn approach from Kraft
by Kay Murchie
