SDX accepts Lucent offer

Article Abstract:

SDX Business Systems PLC, a recognized leader in voice, data and computer telephony-integration products in the British market, has accepted the purchase offer of US telecommunications firm Lucent Technologies Inc. for $202.7 million. Lucent announcement that it will assume a charge for the fourth quarter of 1998 to accomplish the acquisition, which is expected to close by the end of July 1998. The deal allows Lucent to obtain SDX's Private Business Exchange products and the network of private resellers that market the products, which complement the network of corporate and private telephone systems and microelectronics parts belonging to Lucent.

Comment:

Its purchase offer of $202.7 million has been accepted by SDX Business Systems PLC

United States, Foreign operations, Telecommunications Equipment, Communications Equipment Manufacturing, Telecommunications systems, Lucent Technologies Inc., SDX Business Systems PLC

---

English China shares rise on stock-buyback news

Article Abstract:

English China Clays PLC, an industrial minerals and papers group, has announced that it is considering to launch a share-buyback plan that boosted its share prices by 10%. The announcement, which is part of moves to increase its declining share prices, boosted company stocks to 160 pence or $2.66 on September 14, 1998. Company Finance Director Patrick Drayton implied that the decline is partly due to overselling of stocks. Company board of directors agreed to buy back up to 10% of its stock on conditions that it secures back 6.5% convertible bonds, which is due 2003, and to start buying back stocks in the next company fiscal year.

Comment:

Is considering to launch a share-buyback plan that boosted its share prices by 10%

Nonmetal Mining, Nonmetallic Mineral Mining and Quarrying, Mining industry, English China Clays PLC

---

Laporte plans to buy Inspec for $1 billion

Article Abstract:

Laporte PLC of the UK has offered 611 million pounds sterling ($1 billion) for the acquisition of Inspec Group, a British firm engaged in the manufacture of specialty chemicals. The deal, which will create the biggest specialty chemicals maker in Europe, represents a 40% premium on Inspec's stock and has been approved by Inspec's board of directors. The acquisition, which ended two months of relative inaction in UK's chemicals sector, is expected to generate as much as 10 million pounds sterling in savings for Laporte one year after its completion.

Comment:

Has offered 611 mil pounds sterling ($1 bil) for the acquisition of Inspec Group

Basic Chemical Manufacturing, Specialty Chemicals, LaPorte PLC, Inspec Group PLC

Similar abstracts:

• Abstracts: Ahold to acquire rest of Thai venture. Ahold plans to buy Giant Food. Alphatec debt plan may hold the key to Thai future
• Abstracts: W.H. Smith to buy Internet bookshop for $15.4 million. BT launches low-cost online service. Williams confirms it held Tyco talks, but says they ended

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.