United Video pulls its $2.8 billion bid for rival Gemstar
Article Abstract:
United Video Satellite Group Inc. withdrew its $2.8 billion bid for rival Gemstar International Group Ltd. after Gemstar's board rejected the offer. Gemstar said the $45-a-share offer was financially inadequate. Gemstar's chairman, Thomas Lau, owner of around 24% of the shares, favored a deal with United Video. Viacom Inc. and Thomson Consumer Electronics Inc. are major owners of Gemstar and also have board representation. United Video is controlled by Tele-Communications Inc.
Comment:
United Video withdrew its $2.8 billion bid for rival Gemstar
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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SPX is buying General Signal for $2 billion
Article Abstract:
SPX Corp. is acquiring General Signal Corp. for approximately $45 per share in stock and cash. This comes out to approximately $2 billion. The acquisition is a move outside of the automotive industry for SPX. The boards of both companies have given their approval to the acquisition. The purchase will establish an entity that will have $2.5 billion in sales in the industrial and automotive businesses.
Comment:
SPX Corp. to acquire General Signal Corp. for approximately $45 per share in stock and cash
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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