We have a bid at 40... Do I hear 45? 45 anyone? Asking 45...
@Morningstar analyst Phil Gorham estimated that with $1 billion in cost-savings following a takeover, AB InBev should still be able to make the deal work at 40 pounds per share. With $2 billion of savings, it should be able to go to 44 pounds. "It makes sense to start at 40 and go to mid-40s," Gorham said. At 40 pounds per share, a takeover of the world's No. 2 brewer would cost nearly 65 billion pounds ($98.6 billion). At 45 pounds it would be close to 73 billion pounds ($110.7 billion).
40GBP per share is apparently not enough for SAB. They want more...
@Brewer SABMiller has rejected an "informal" takeover offer from Anheuser-Busch InBev of about $100 billion as being too low, a media report said on Tuesday, pushing down its share price. The proposal made last week was worth slightly over 40 pounds per share, according to Bloomberg, which cited sources familiar with the matter. SABMiller executives and some shareholders regarded a price closer to 45 pounds as representing fair value, it added. SABMiller and AB InBev both declined to comment on the report, cited by traders as the reason behind a drop in SABMiller shares, which were down 3.2 percent at 36.4 pounds at 1236 GMT. As of Monday's close, the shares had been up 25 percent since AB InBev's takeover approach was revealed on Sept. 16. A source familiar with the matter told Reuters that discussions were ongoing and there was talk of both sides possibly asking for an extension of the Oct. 14 deadline for a formal bid, given the complexity of such a deal.
Interesting. If DEO does sell their wine assets, what will they do with the proceeds? I think a special dividend would be nice for the shareholders who have stuck it out with the firm through the last couple of difficult years.
Duh, you think I didn't catch your little diss on the $CAD? I know you hate Canada, and yet you still buy shares in Canadian companies huh.
Zap? You're a liar. You apparently zapped me already (or so you said) a long tiime ago. Shove your Zap up your #$%$.
This is a segment of the ENB mainline that was dropped down to ENF.TO.
@CALGARY, Alberta, Oct 1 (Reuters) - Canadian light synthetic crude and North Dakota Bakken crude for November delivery strengthened on Thursday after Enbridge Inc received approval from regulators to open its newly-reversed Line 9 crude pipeline. Line 9 will ship 300,000 barrels per day of mostly light North American inland crude from Sarnia, Ontario, to Montreal, Quebec, displacing costlier barrels imported from overseas. The line used to flow in the opposite direction, taking imported crude to Ontario. Enbridge has not yet said when the pipeline will start operating but traders said there was demand for light crude in anticipation of the line being filled in the next month or so.
What will be SU's cash balance if the buyout is successful? Identical to what it was before the deal. ZERO real money. Oh why did you even read my message? So much for your repeated claim that once you put someone on ignore it's forever... you are a hypocrite.
Get with the program and focus on the technology for a change instead of 'Blain' this "Blain" that. The A320 unit is a UTX geared turbofan engine of the same family as that used on the CSeries. No spoof.
@The Pratt & Whitney PW1000G is a high-bypass geared turbofan engine family, currently selected as the exclusive engine for the Bombardier CSeries, Mitsubishi Regional Jet (MRJ), Embraer's second generation E-Jets, and as an option on the Irkut MC-21 and Airbus A320neo. The project was previously known as the Geared Turbofan (GTF), and originally the Advanced Technology Fan Integrator (ATFI).
UTX better deliver a reliable engine. Another major failure would irreparably damage BBD-B.TO chances of success with the CSeries. I wonder what BBD's contract conditions are if UTX fails to deliver the goods?
@Airbus Group SE said an engine on one of its revamped A320neo jets was found to have suffered damage following flight trials in hot-weather conditions, the latest setback for the Pratt & Whitney-manufactured turbine.
The issue was discovered in one of the test aircraft’s two power-plants, Airbus said Wednesday in an e-mailed statement that didn’t specify the source of the trouble. ng turbine is being offered by the CFM International venture of General Electric Co. and France’s Safran SA. Airbus’s disclosure of “findings in the engine” added to two previous turbine-related disruptions in the development of the A320neo and Bombardier Inc.’s CSeries. Pratt’s geared turbofan engine is the company’s newest offering, and is designed to help improve fuel efficiency.
BUD is brewing up a takeover of SAB.L. Yesterday news that BF-B is looking to offload its Southern Comfort liquor brands. Now today news that DEO wants to divest its wine brands.
@LONDON (Alliance News) - Drinks giant Diageo PLC is holding detailed talks about the sale of its wine brands, Sky News reported. The company is understood to have accelerated plans in recent weeks to offload its wine brands, including Blossom Hill, and the suitor thought to be involved in the talks is Australia'sTreasury Wine Estates.Sources told Sky a deal for the wine business could be done during October, though they cautioned no agreement has yet been signed and the deal could still fall through.
Maybe you should ask Investec. They're the ones who hit the market panic button yesterday. Amazing how some marginal player can set off the herd if they get the ear of mass media.
@Mining firm Glencore has said it is "operationally and financially robust" after questions were raised about its financial future. On Monday its shares dived 30% after a note from analysts at Investec said its equity value could be "eliminated". Investec's Laura Lambie told the BBC Glencore faced "severe problems" if it did not cut its debt and commodity prices do not recover.
I am tempted to add more SHPG at this level. But will wait in case the other shoe drops. There should be some news quite soon on whether patent challenges by Bass back in April will be allowed to proceed.
@Kyle Bass is expanding his campaign against pharmaceutical companies.
Shire Plc is the newest target of the hedge fund manager’s strategy to challenge drug patents, according to filings Wednesday with the U.S. Patent and Trademark Office. Bass is challenging patents on Lialda and Gattex, according to the filings, which together would have made up 12 percent of Shire’s revenue in 2014.
@The type of government review triggered by Bass’s petitions takes about six months and there’s no guarantee the Patent Trial and Appeal Board will agree to institute any of the cases. If it does, it will make final decisions within 12 months.
Use of proceeds from the sale will improve the bottom line nicely. Still, I was a bit surprised that BTI did not buy the American Spirit brand ex-USA marketing rights.
@The agreement gives Japan Tobacco rights to a brand that has won a following among younger smokers. But the purchase comes at a hefty price of nearly 300 times the pretax profit of the Natural American brand in non-U.S. markets in 2014. Reynolds, the maker of Camel cigarettes, is expected to receive an estimated $3.5 billion after taxes from the deal, according to RBC Capital Markets. RBC analyst Nik Modi said the sale allows the company to pay down its Lorillard debt “more quickly than…investors expected,” reducing annual interest expenses by $150 million and increasing earnings by 7 cents per share in 2017. Ms. Cameron said it was better for Reynolds American to sell the brand’s non-U.S. rights to a company such as Japan Tobacco with an established global sales infrastructure rather than trying to build such infrastructure itself.
BTI continues to hold a large equity stake in RAI so they obviously value in the firm. Japan Tobacco already owns ex-USA rights to Camel (and Winston). I believe Newport is only sold in the USA so that brand could be expanded internationally (or a license sold as was just done for Natural American).
Evidently, JTI want to focus on selling US-brands outside USA, while BTI wants exposure to US brands in their home market. Very different strategies.
No YOU are wrong. The product you are referring to is Natpara. NPSP already had a drug named Gattex on the market.
Well that was quick... and is is ex-USA as I suspected, so RAI continues to grow and profit from the American Spirit brand in USA. Sweet.
@Reuters) - Japan Tobacco Inc has agreed to pay 600 billion yen ($5 billion) in cash for Reynolds American Inc's Natural American Spirit tobacco business outside the United States, the two companies said in separate statements on Tuesday. The deal, to be concluded by early 2016 pending regulatory approval, includes related trademarks and subsidiaries primarily in Japan and Europe, where operations will continue unchanged, Japan Tobacco said. Koizumi's counterpart at Reynolds American, Susan M. Cameron, said Natural American Spirit would benefit from a sale to a global company such as Japan Tobacco, rather than Reynolds American investing to support the brand internationally. Cameron also said the sale will allow Reynolds American to focus on the United States, as all international rights to its cigarette trademarks will be owned by international tobacco companies. Its Camel and Winston brands are also owned abroad by Japan Tobacco.