Carrefour sees light at the end of the tunnel 1 Sep 2005 The French retailer s domestic margin has been hit by price cuts, which caused net profits to fall by almost 7%. But Carrefour s customers are returning. The group has finally started to reverse its long market share decline.
Robinson’s Rentokil approach lacks substance 1 Sep 2005 He would like the services group s top brass to cooperate with him in working up a proposal. But why should they? He wants to replace them. Robinson needs to make a proposal sufficiently credible and appealing to force the board into talks.
Novartis bids $4.5bn for remainder of Chiron 1 Sep 2005 The Swiss drug group wants to fix its minority investment in the gaffeprone US vaccine maker. Dissatisfaction with Chiron s management has left the group vulnerable to Novartis welltimed bid.
888.com seeks £800m IPO 1 Sep 2005 The internet poker site hopes to emulate Partygaming, whose shares are up 22% since its June IPO. The odds look good. True, most leading investment banks won t touch the sector. But investors are still drawn to online gambling s stellar growth rates.
Cadbury dumps European beverages 1 Sep 2005 The UK group was relying on cash flow from its beverages businesses to pay down the debt taken on at the time of the Adams acquisition. But the beverages arm now needs investment itself. Luckily, there should be no shortage of private equity buyers willing to provide it.
Deutsche Post in talks with £3.4bn Exel 1 Sep 2005 It s won't be easy for the UK logistics firm to repel this approach. Investors have bought up the shares frantically on hopes of an exit. The group now looks pretty fully priced. The real question is what price it can wring from a bidder.