GUS stuns City by launching hostile 1.6bn pounds sterling bid for Argos

Article Abstract:

Catalogue retailer Argos has rejected a 1.6bn pounds sterling hostile takeover bid from Great Universal Stores (GUS). Analysts feel that a counter-bidder will probably not emerge, but expect GUS to increase its bid, which is currently worth 570p a share. The bid, the first hostile move ever made by GUS, will be funded by around 1 billion pounds sterling debt. GUS believes that the purchase of Argos would give it a strong high street presence and allow it to build up a database on customer shopping behaviour.

All Other Specialty Food Stores, Misc. general merchandise stores, Catalog Showrooms, Analysis, Management, Planning, Mail-order industry, Mail order business, Great Universal Stores PLC, Argos PLC, Corporate anti-takeover measures, Antitakeover strategies

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GrandMet and Guinness in 23bn pounds sterling deal; wave of consolidation to follow giants' merger

Article Abstract:

There is likely to be a wave of consolidation within the spirits industry following the announcement of a 23 billion pounds sterling merger between Guinness and Grand Metropolitan. This will create GMG Brands, the largest spirits group in the world. The merger will put particular pressure on Allied Domecq, which is already facing challenges to its market share. Guinness and Grand Metropolitan do not plan to spin off their non-spirits activities, which include Burger King and Guinness Brewing Worldwide.

Mergers, acquisitions and divestments, Alcoholic beverage industry, Guinness PLC, Grand Metropolitan PLC

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Hoare welcomes competitors for the posh pound

Article Abstract:

Private bank C Hoare & Co offers continuity, according to Alexander Hoare, one of the nine family partners of the bank. His fourth cousin Venetia indicates that the bank seeks customers who will offer long-term profitability.

Commercial Banking, DEPOSITORY INSTITUTIONS, Private Deposit Money Banks, Officials and employees, Interview, Private depositories, Private banking, Hoare, Alexander, Hoare, Venetia, C. Hoare & Co.

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