Panasonic in talks on Sanyo Electric takeover
Panasonic is in talks to acquire Sanyo Electric in a deal that would create Japan's largest electronics group. Panasonic, which is believed to have won the consent of Sanyo management for a takeover bid, is expected to start discussions shortly with Sanyo's major shareholders - Goldman Sachs, Sumitomo Mitsui Bank and Daiwa Securities,...
Sunday paper roundup
The Mail on Sunday: The multi-billion-pound takeover of HBOS by Lloyds TSB has been thrown into doubt by claims that an overseas bank is considering launching a rival bid. However, BBC Scotland reports there's still only one bidder for HBOS, citing an interview with Scottish Secretary Jim Murphy.The Sunday Times:...
BSkyB in exclusive talks for Tiscali UK
British Sky Broadcasting is in exclusive talks with Tiscali, the struggling Italian telecommunications group, over its UK assets. The proposed £450m deal would see the combined company of BSkyB and Tiscali UK becoming the country’s largest provider of residential broadband by the end of next year....
Lloyds TSB in stake talks with sovereign wealth funds
Lloyds TSB is in talks with up to ten Middle Eastern and Asian sovereign wealth funds and with British insurers and pension funds about selling stakes in a merged Lloyds-HBOS group, with a preliminary deal expected by January, the Times reported. Lloyds intends to use the cash to help to redeem £4 billion...
A second bid for HBOS?
Unlikely as it may seem, there is another interested party. This from the Scotsman:A FOREIGN bank is interested in buying HBOS and has approached the UK government on how to proceed, The Scotsman has learned. It has received assurances from the Treasury that any bid would be treated equally to the one on the table from Lloyds TSB....