Lucas merger: BBA says no to bid
Article Abstract:
BBA does not plan a bid for Lucas Industries which plans to merge with Varity. Institutional shareholders opposed a bid and BBA moved away from considering an offer with no recommendation from Lucas. BBA could still launch another bid but Lucas was considered too large by some analysts. Institutional investors are more likely to back a bid for a smaller target, though BBA could also grow adequately from its existing activities according to Sandy Morris from NatWest Securities.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Bid at your own risk, Varity warns Lucas rivals
Article Abstract:
Varity and Lucas plan to merge, with Victor Rice, Varity's chairman, to head the new company, LucasVarity. Rice argues that no other company would be as suitable for a merger with Lucas though BBA and ITT are rumored to be considering a bid. Lucas produces basic brake equipment and Varity produces anti-lock brake systems. Rice argues that a single culture has to be implemented in both companies and that this should be carried out rapidly.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Lucas left in the lurch. Where are they now? UPF: German leap
- Abstracts: Ethical investors kept in the dark. When green issues are not black and white. Investing on principle could be profitable
- Abstracts: Defence bids in suspense. BAe/Marconi merger pushes Euro defence onto the runway
- Abstracts: Japan: waiting on the bail-out. Riding the tiger. Japan: all change on the yen
- Abstracts: Home, sweet home for UK investors. Overweight