Newell pays quick price for rival's purchase

Article Abstract:

Newell, the Freeport, IL-based maker of Levolor blinds and WearEver pans, saw its market value depreciated by 12% or over $430 million over its announcement to buy rival Rubbermaid, the Wooster, OH-based maker of consumer plastic products, for $5.8 billion. Under the deal, Newell will swap 0.7883 share per Rubbermaid share. Analysts questioned Newell's decision on its valuation of Rubbermaid. Constance Maneaty, analyst with Bear Stearns, said Newell paid around 2.5 times Rubbermaid's annual revenue against an average of 2.3 times revenue for the consumer products industry.

Comment:

Sees its market value depreciates over its announcement to buy rival Rubbermaid for $5.8 bil

All Other Rubber Product Manufacturing, Fabricated Metal Products, Fabricated Metal Product Manufacturing, Fabricated Rubber Products NEC, Metal products, Rubber products, Rubbermaid Inc., Newell Co.

---

Chevron to announce $35B Texaco takeover

Article Abstract:

Chevron announced that it is acquiring Texaco for $35.1 billion, which will create the world's fourth-largest oil conglomerate with almost 55,000 employees worldwide and $66 billion in yearly revenues. The deal is expected to face close scrutiny from regulators in Washington and Brussels at a time when public outcry over soaring oil prices is high. The merged company to be called Chevron Texaco would have the largest oil reserves in the US and the world's fourth-biggest producer of oil and gas.

Petroleum, Petroleum and Coal Products Manufacturing, Texaco Inc.

---

AMP arms itself against hostile takeover

Article Abstract:

AMP is anticipated to oppose AlliedSignal's unsolicited takeover bid worth $9.8 billion. However, the company's board has agreed to review AlliedSignal's offer carefully before officially responding to the hostile bid within 10 days of the latter's formal tender offer, which is anticipated by Aug. 11, 1998. If AMP decides to oppose the offer, AlliedSignal could experience some difficulties as AMP is registered in Pennsylvania, where some of the stiffest anti-takeover laws in the US are enacted.

Comment:

Its unsolicited takeover bid worth $9.8 bil is anticipated to be opposed by AMP

Aircraft Parts, Other Aircraft Parts and Auxiliary Equipment Manufacturing, Other Electrical Equipment and Component Manufacturing, Electronic Components, AMP Inc., AlliedSignal Aerospace

Similar abstracts:

• Abstracts: New oil expected to have a quick price effect. Rates increases quarter point. Fed hopes for soft landing
• Abstracts: House committee asks drug firms to justify pricing policy. Sales pitch: drug firms use perks to push pills. Drugmakers fight back as patents near expiration
• Abstracts: Markets welcome rate hike. NHTSA expands tire investigation to other brands
• Abstracts: Deutsche Telekom targets Sprint. Coke faces snags in possible $16B Quaker deal
• Abstracts: AT&T widens cellular world with purchase of Vanguard. TCI deal stands despite falling AT&T stock

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