Racal sought by Williams Holdings PLC; stock-swap offer valued at $1.31 billion follows spinoff of cellular unit
Article Abstract:
Williams Holdings PLC makes a surprise bid to acquire Racal Electronics PLC the day after Racal divested itself of its cellular radio unit. Williams proposes a securities exchange for the balance of the defense systems, data communications and security systems businesses of the electronics company. The stock swap would consist of three new ordinary shares of Williams stock for every 20 shares of Racal ordinary stock, valuing the Racal stock at about 54.15 pence per share. Williams values Racal at about $1.31 billion and is willing to assume the company's 250 million pounds sterling debt. The acquisition of Racal would be the second large one for the British industrial firm in 1991. While the London Stock Exchange reacted by pushing Racal's stock up to 57.5 pence per share, industry observers expect Racal to reject the takeover bid. Williams' stock dropped to 337 pence, down 24 pence.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
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'Smart card' usage could see increase from security experiment at Expo '92
Article Abstract:
"Smart card" technology is being used for tickets at the World's Fair Expo '92 in Seville, Spain, another indication of Europe's top position in the field. Fair attendees receive a "smart" ticket that they insert into a slot, they enter a finger and the machine reads the fingerprint. Thus it is nearly impossible for attendees to cheat the fair. The system was developed by Compagnie des Machines Bull of France and Fabrica Nacional Moneda y Timbre of Spain. "Smart card" technology involves a silicon chip used on a card, providing substantially more information than the traditional magnetic-strip card. Smart cards are more expensive than magnetic-strip cards, but they are more flexible and more secure.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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STC of U.K. says it may be bought; buyer undisclosed
Article Abstract:
STC PLC, a British electronics and communications company, says it may be taken over, but does not identify specific bidders. The announcement confirms speculations that have caused the company's stock to surge. STC closed at 284 pence ($5.59) on the London Stock Exchange. A month ago the company's stock sold for about 220 pence. Alcatel N.V. is seen as one possible bidder, and AT&T is another. STC makes cabling and transmission equipment, and could give either Alcatel or AT&T an improved standing in the British market.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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