Lucas drawn to US tie
Article Abstract:
Lucas and Varity Corp are discussing a possible joint venture of merger. Lucas aims to stengthen the company's brakes business, and Varity holds a stake of some 25% in the US market for brakes. There are doubts as to the long-term benefits from such an alliance. Margins from ABS brake systems are falling as they become standard features. Lucas's US HV with Sumitomo for ABS brakes could also be affected by an alliance with Varity. Neither Varity nor Lucas appears likely to make a bid for the other company.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Demerger bandwagon attracts new converts
Article Abstract:
UK demergers include Thorn EMI, Hanson, and British Gas. Grand Metropolitan has decided against a demerger since it would not add value. The Thorn merger has more rationale due to lack of overlap between the businesses concerned, while GrandMet's businesses do overlap. Thorn has seen a rise in its share price since the demerger was announced. Valuations of the two units are difficult to estimate since there is disagreement as to the bid premium that EMI Music can achieve.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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New fear for business follows IRA blast
Article Abstract:
A disruption of the peace process could damage Northern Ireland's economy. Northern Ireland has seen an increase in tourism and retail sales following a ceasefire announced in 1994. Foreign companies are investing in Northern Ireland. They include Daewoo and Montupet. Sainsbury also plans investments and has not changed its plans after a bomb blast in Feb 1996. Northern Irish companies are most likely to be affected if the peace process fails.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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