| CATEGORY: PRESS ROUND-UP SHORT SECTOR: FOOD PRODUCERS |
Monday newspaper round-up: Dairy Crest, BAA,Wyevale |
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Mon 19 Dec 2005
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LONDON (SHARECAST) - France's Groupe Lactalis has held detailed talks with Dairy Crest over a possible £800m takeover, the Guardian says.
The French dairy company is considering an all-cash bid of about 630p pence a share for Dairy Crest, whose brands include Cathedral City cheese and Country Life butter, but no agreement has been reached and Lactalis may still walk away.
Britian's mining and pharmaceutical sectors are headed for another bonanza year in 2006, while Vodafone should rediscover some of its lost glitter, according to some of the City’s top equity strategists, says the Times.
This year has been punctuated by the outperformance of the oil and gas, mining and pharmaceutical sectors, which between them accounted for about 70% of the FTSE 100’s gains.
Tony Blair’s concession on the EU budget rebate appears to be far bigger than Downing Street has publicly admitted, as the deal is likely to leave the UK up to £2bn worse off each year by the end of this decade says the FT.
Airports operator BAA completed its biggest overseas acquisition last night, paying £1.26bn for a 75% stake in Hungary's main airport, writes the Telegraph.
The UK company's chief executive, Mike Clasper, dismissed suggestions it was overpaying, claiming it was "a perfect fit" and would be as profitable as Stansted by 2020.
BAA is also warning that it could divert investment from the UK to fund expansion overseas if it feels short-changed by negotiations on a new regulatory regime, adds the Independent.
The board of Wyevale Garden Centres is increasingly confident that it could - against the odds - win its long-running battle with rebel shareholder Laxey Partners at this week's extraordinary meeting, the Telegraph reports.
Retailers and shopping centres across the country have seen a late surge in Christmas shopping on one of the busiest weekends of the year.
Millions of shoppers packed high streets and shopping centres in a last-minute rush to buy gifts, the Independent says.
IFX, the spread betting and financial services business, will announce today the purchase of an online foreign exchange gaming company, says the Times.
IFX, whose chief executive is Ed Warner, formerly chief executive of the UK arm of Old Mutual, is buying FX Player, which provides fantasy online trading games, in which players pretend to be real foreign exchange traders.
Burnt investors in split capital investment trusts are being told to expect a further wait on compensation decisions by the Financial Ombudsman Service, says the Times.
The FOS, which currently is examining 1,200 complaints, is being swamped by lengthy submissions from City firms that claim that its methodology is unfair.
Ryanair has confirmed that it has held talks with a number of other EU aviation authorities in relation to transferring its aviation licence certificate, says the Irish Times.
The High Court will this week deliver its ruling in the €85 million insider dealing claim brought by Fyffes against former shareholder DCC Group, says the Irish Examiner.
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