Menu
25/09/2001
TBI bid is dropped by Vinci
French construction giant Vinci has announced its offer for TBI, the owners of Belfast International Airport, has lapsed after TBI shareholder acceptances fell below the 90 per cent level needed for the deal to go ahead.
In a press statement Vinci stated that as of 3.00pm London time on Monday 24 September, offers received by Vinci from TBI were 71.46 per cent. However this failed to meet the 90 per cent in nominal value of TBI shares which Vinci required.
“As this condition has not been satisfied,” Vinci stated, “we have decided to allow the offer to lapse.”
News of an offer withdrawal by Vinci was pre-empted by news of a slump in the share price of TBI who run terminals in Belfast, Luton, Cardiff, Sweden and Bolivia.
Industry sources have said the terrorist attacks on America and airline cutbacks threw doubt on the £515 million bid by Vinci, heightened by falling share prices in airline stocks worldwide.
The news has sent TBI shares down as much as 25 percent to a six-year-low of 42 pence and by 12 noon were at 47 pence - well below Vinci's 90p per share offer. Meanwhile, Vinci's shares climbed 6.6 percent to 62.00 euros. (AMcE)
In a press statement Vinci stated that as of 3.00pm London time on Monday 24 September, offers received by Vinci from TBI were 71.46 per cent. However this failed to meet the 90 per cent in nominal value of TBI shares which Vinci required.
“As this condition has not been satisfied,” Vinci stated, “we have decided to allow the offer to lapse.”
News of an offer withdrawal by Vinci was pre-empted by news of a slump in the share price of TBI who run terminals in Belfast, Luton, Cardiff, Sweden and Bolivia.
Industry sources have said the terrorist attacks on America and airline cutbacks threw doubt on the £515 million bid by Vinci, heightened by falling share prices in airline stocks worldwide.
The news has sent TBI shares down as much as 25 percent to a six-year-low of 42 pence and by 12 noon were at 47 pence - well below Vinci's 90p per share offer. Meanwhile, Vinci's shares climbed 6.6 percent to 62.00 euros. (AMcE)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
25 June 2002
Aldergrove contribution to TBI profits significant
The TBI group, which operates Belfast International, Luton and Cardiff airports, has reported a 26% rise in profits. However, the most impressive figures for the company was a 16% rise in passenger numbers for Belfast International to 3.7m.
Aldergrove contribution to TBI profits significant
The TBI group, which operates Belfast International, Luton and Cardiff airports, has reported a 26% rise in profits. However, the most impressive figures for the company was a 16% rise in passenger numbers for Belfast International to 3.7m.
17 June 2004
M&S reject revised offer from Revival
Marks & Spencer have rejected an increased offer from retail entrepreneur Philip Green's company Revival Acquisitions. Following a meeting between Marks & Spencer's Chairman Paul Myners and Chief Executive Stuart Rose, who met with Philip Green and a representative of Goldman Sachs yesterday afternoon, the substantially increased bid was rejected.
M&S reject revised offer from Revival
Marks & Spencer have rejected an increased offer from retail entrepreneur Philip Green's company Revival Acquisitions. Following a meeting between Marks & Spencer's Chairman Paul Myners and Chief Executive Stuart Rose, who met with Philip Green and a representative of Goldman Sachs yesterday afternoon, the substantially increased bid was rejected.
21 June 2002
Musgrave Group offers £175m to acquire Budgens
Musgrave Group, Ireland’s largest food distributor, has announced a £175million (275 million euro) offer to buy up the remaining shares in Budgens. The agreed deal will see Musgrave offer of 135 pence (Sterling) per share to the shareholders of Budgens to acquire the outstanding shares in that company that it does not already own.
Musgrave Group offers £175m to acquire Budgens
Musgrave Group, Ireland’s largest food distributor, has announced a £175million (275 million euro) offer to buy up the remaining shares in Budgens. The agreed deal will see Musgrave offer of 135 pence (Sterling) per share to the shareholders of Budgens to acquire the outstanding shares in that company that it does not already own.
03 April 2002
First Derivatives successfully floated on AIM market
Newry-based company First Derivatives (FD) have successfully floated as a publicly listed company on the AIM market. The company, which provides bespoke software for the banking industry, have begun trading on the market after it exceeded the £1 million minimum subscription take-up requirement.
First Derivatives successfully floated on AIM market
Newry-based company First Derivatives (FD) have successfully floated as a publicly listed company on the AIM market. The company, which provides bespoke software for the banking industry, have begun trading on the market after it exceeded the £1 million minimum subscription take-up requirement.
04 January 2002
UK shares optimism fuels hopes of global economy turnaround
The London shares markets were attributed with fuelling hopes of a turnaround in the global economy as the wave of optimism heightened hopes of a recovery. Firmer trading in technology, media, and telecoms stocks pushed up expectations amid light shares trading on Friday, January 2. The FTSE-100 had risen by around 0.
UK shares optimism fuels hopes of global economy turnaround
The London shares markets were attributed with fuelling hopes of a turnaround in the global economy as the wave of optimism heightened hopes of a recovery. Firmer trading in technology, media, and telecoms stocks pushed up expectations amid light shares trading on Friday, January 2. The FTSE-100 had risen by around 0.
-
Northern Ireland WeatherThis Evening and Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 7 °C.
