Usinor raises its bid for J&L after first attempt rejected

Article Abstract:

Usinor SA, a steelmaker based in France, increased on Nov. 5, 1998, its offer for US-based J&L Specialty Steel Inc. to $6.375 a share, following the rejection of the former's earlier bid of $6.25 a share. The new bid price of Usinor was unanimously accepted by J&L board on Nov. 5, 1998. In September 1998, the French company, which already holds 54% of J&L, tendered a $5.75-per-share bid for J&L, but increased it when some J&L shareholders stressed that the US firm was worth more. Usinor, which has been acquiring firms in recent months, purchased a significant interest in Brazilian steel producer Acos Especiais Itabira SA.

Comment:

Raises its offer for US-based J&L Specialty Steel Inc to $6.375 a share from $6.25 a share

Primary Iron & Steel, Iron and Steel Mills and Ferroalloy Manufacturing, Usinor SA, J and L Specialty Steel Inc.

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ABB purchases automation unit from Alfa Laval

Article Abstract:

ABB Asea Brown Bovert AG, a Swiss/Swedish engineering concern, acquired the automation unit of Alfa Laval for an undisclosed amount. The transaction will boost ABB's substantial presence in the market of industrial robots and process controls and expand ABB's existing automation business. The Alfa Laval unit, which employs around 1,200, posted sales of about $150 million in 1997. Lars-Erik Lindbaeck, in charge of ABB's Swedish industrial and building systems division, said the deal is complementary, adding that the Alfa Laval unit is well positioned in pharmaceuticals and food.

Comment:

Acquires the automation unit of Alfa Laval for an undisclosed amount

Engineering Services, Food Product Machinery Manufacturing, Food Products Machinery, Food processing machinery, Alfa-Laval, ABB Asea Brown Bovert AG

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Vivendi to acquire stake in FCC for $719.8 million

Article Abstract:

Fomento de Construcciones & Contratas SA, a construction company headquartered in Spain, has agreed to sell a minority interest in the firm to Vivendi of France for 100 billion peseta. Under the terms of the purchase deal, Vivendi will pay 100 billion peseta for a 49% stake in the construction group's holding company, which controls 56% of Fomento de Construcciones & Contratas. Vivendi is also expected to sell its waste management and water services unit in Spain to the construction company for an undisclosed amount to defray the costs of the purchase of the minority stake.

Comment:

Is set to acquire a minority interest in Fomento de Construcciones & Contratas for 100 billion peseta

Facilities & equipment, Refuse Systems, Waste Collection, Spain, Building, Developing, and General Contracting, Contract Construction, Construction industry, Waste management industry, Construction contracts, Vivendi S.A., Fomento de Construcciones y Contratadas

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