Lucas Varity moves to U.S. as industry consolidates
Article Abstract:
LucasVarity PLC of London, United Kingdom, an Anglo-American auto parts manufacturing company, will relocate its headquarters and stock registration to the US to participate more actively in the consolidation of the auto parts industry. The company's transfer to the US will involve reorganizing the company in accordance to US corporate laws as well as exchanging its UK-registered shares for US-registered shares. LucasVarity, which manufactures electronic components, diesel fuel-system parts and automotive brakes, intends to become a consolidator in the auto-parts industry, according to LucasVarity Chairman Victor Rice.
Comment:
Will move its headquarters & stock registration to the US to participate in the consolidation of the auto-parts industry
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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U.K. holders of LucasVarity stops U.S. move
Article Abstract:
LucasVarity PLC of the United Kingdom, a manufacturer of aerospace equipment and motor-vehicle parts, has its planned headquarters relocation to the US disapproved by its stockholders from the United Kingdom. Stockholders controlling 75% of LucasVarity's shares need to vote in favor of the planned headquarters relocation to the US for the proposal to come into fruition. The votation process, however, yielded the endorsement of stockholders who own only 73.9% of LucasVarity, thereby effectively negating its executive board's proposal to relocate the company to Buffalo, NY.
Comment:
Has its planned headquarters relocation to the US disapproved by its stockholders from the UK
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Asda cuts liquor prices in U.K
Article Abstract:
Asda Group announced that it is lowering prices on its beer, wine, and spirits products by 12 million pound sterling (18.7 million euros). The price cuts are part of the group's rollback campaign. Asda is a supermarket chain based in the UK.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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