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takeover

April 15, 2010

David Simon, chairman of the board and CEO of family-run Simon Property Group, stepped in personally to try and help force through his company’s hostile takeover of General Growth Properties.

David Simon, chairman of the board and CEO of family-run Simon Property Group, stepped in personally to try and help force through his company’s hostile takeover of General Growth Properties.

In a letter to his counterpart at GGP yesterday, the second-generation family member offered to match the reorganisation plan put forward by rival Brookfield Asset Management. However, he claimed his offer to invest $2.5 billion was “substantially more favourable to GGP and its equity holders”. His proposal includes a $1 billion co-investment commitment by Paulson & Co.

October 16, 2009

The Spain-based Cosmen family has withdrawn its bid for UK-transport company National Express after a month of due diligence.

The Spain-based Cosmen family has withdrawn its bid for UK-transport company National Express after a month of due diligence.
 
The family, National Express's largest shareholder, instead supports further fundraising by the company. "The Cosmen family has now confirmed its intention to support the group's plans to undertake an equity fundraising within certain parameters that the Cosmen family has communicated to the board of National Express," a statement said. It is not yet clear what those conditions are.
 

October 9, 2008

The demotion of August A Busch IV from the executive committee of beer giant Anheuser-Busch has been confirmed with the promotion of David Peacock at the newly-formed Anheuser-Busch InBev behemoth.

The demotion of August A Busch IV from the executive committee of beer giant Anheuser-Busch has been confirmed with the promotion of David Peacock at the newly-formed Anheuser-Busch InBev behemoth.

Peacock, who served as vice president of marketing under Busch IV, becomes the new president and will manage all US operations for the combined company, which is awaiting the approval of Anheuser-Busch shareholders on 12 November.

October 1, 2008

The first hurdle of InBev’s takeover of US rival Anheuser-Busch has been cleared.

The first hurdle of InBev's takeover of US rival Anheuser-Busch has been cleared.

InBev shareholders voted overwhelmingly in favour of the acquisition of all Anheuser-Busch shares for $70 each at the Belgian-based company's extraordinary general meeting held today.

They also approved the name change of InBev to Anheuser-Busch InBev and the appointment of president and CEO August A Busch IV as a director of the new company.

July 3, 2008

Drinks giant InBev has issued a response following fellow family-owned Anheuser-Busch’s rejection of it’s $65 per share takeover bid.

InBev has issued a response following fellow family-owned brewer Anheuser-Busch's rejection of it's $65 per share takeover bid. The Belgian firm believes the offer is fair and "remains committed to its proposal to create the world's leading beer company."

June 27, 2008

The battle for control of family-run US brewer Anheuser-Busch has taken a dramatic turn as Belgian rival InBev is set to launch a hostile takeover following Anheuser-Busch’s rejection.

The battle for control of family-run US brewer Anheuser-Busch has taken a dramatic turn as Belgian rival InBev is set to launch a hostile takeover following Anheuser-Busch's rejection.

The US brewer finally gave its verdict on the proposed takeover by InBev yesterday and rejected the approach outright. The offer of $65 per share was described as being financially inadequate and not in the best interests of shareholders.

June 1, 2002

Bill Simmons worked in his father’s fashion house for several years after graduating from university.

Bill Simmons worked in his father's fashion house for several years after graduating from university. The father-son relationship was extremely conflicted and Bill struggled with years of verbal abuse. Bill finally left his father and founded his own business in a related field, creating Lincolnshire Fashions Limited in 1969.

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