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Australian Company News 29 November 2008 (Saturday) | ||
| ABB | ABB GRAIN | A marriage on ABB's terms (The Australian) ABB shareholders will be looking for a lot more than an Adelaide base for the combined ABB and AWB because the reality is, on paper, the South Australian company comes into the deal from a position of strength and AWB short of capital... |
| ABB | ABB GRAIN | Grain giants eye $2.5b merger (The Sydney Morning Herald) SHARES in AWB and ABB Grain surged yesterday after the two companies confirmed they were in talks about a possible merger that would create an agribusiness giant... |
| AWB | AWB | A marriage on ABB's terms (The Australian) ABB shareholders will be looking for a lot more than an Adelaide base for the combined ABB and AWB because the reality is, on paper, the South Australian company comes into the deal from a position of strength and AWB short of capital... |
| AWB | AWB | Grain giants eye $2.5b merger (The Sydney Morning Herald) SHARES in AWB and ABB Grain surged yesterday after the two companies confirmed they were in talks about a possible merger that would create an agribusiness giant... |
| BHP | BHP BILLITON | BHP's withdrawal augurs badly for the world economic outlook (The Australian) THE shock decision by BHP Billiton to back out of the Rio Tinto takeover provides a gloomy outlook for the prospects of the world economy... |
| BHP | BHP BILLITON | Legal threat to takeover hold-outs (The Australian) BOARDS that reject takeover bids only to find their prospects collapse once a suitor retreats face an increasing backlash from investors... |
| BHP | BHP BILLITON | BHP's takeover bid for Rio was killed by distrust (The Australian) IN June 1999, Leon Davis and Ron McNeilly shook hands over the holy grail... |
| BHP | BHP BILLITON | Analysts flay Rio but BHP is rewarded (The Australian) BHP Billiton has been rewarded for the backflip on its year-long $135 billion bid for rival Rio Tinto... |
| BHP | BHP BILLITON | How the game unfolded (The Sydney Morning Herald) NOV 8, 2007 BHP Billiton confirms it has put forward a takeover proposal to Rio Tinto, which rejects it, saying it significantly undervalues the company... |
| BLU | BLUEFREEWAY | BlueFreeway ex-chief considers legal action (The Australian) THE former chief executive of beleaguered digital marketing group BlueFreeway is considering legal action... |
| BNB | BABCOCK & BROWN | Australian banks propose plan to save Babcock and Brown (The Australian) THE Australian banks in the Babcock & Brown syndicate have put forward a plan to inject emergency cash into the failing investment group... |
| BNB | BABCOCK & BROWN | Keeping B&B afloat (The Australian) THE Babcock & Brown pendulum is swinging back sharply towards the company, with the local banks appearing to win the argument that receivership would destroy value... |
| BNB | BABCOCK & BROWN | Babcock Wins A$200 Million Reprieve From Banks, Review Reports (Bloomberg) Babcock & Brown Ltd. is expected to win the support from its banks for up to A$200 million ($132 million) in new cash funding, the Australian Financial Review reported... |
| BNB | BABCOCK & BROWN | Bank plan may ease B&B plight (The Sydney Morning Herald) BABCOCK & BROWN'S international banking syndicate is mulling over a framework deal which will give the troubled asset management group breathing space for a few more months so it can seal the impending sale of some of its assets... |
| CBA | COMMONWEALTH BANK OF AUSTRALIA | Listed life insurance a safe bet in present market (The Australian) LISTED life insurance companies represent a compelling buying opportunity in the current market environment, as policy sales continue to rise and the outlook remains positive... |
| CIY | CITY PACIFIC | City Pacific tries to sell repossessed assets (The Australian) EMBATTLED financier City Pacific is trying to sell apartments and repossessed vacant blocks... |
| CMJ | CONSOLIDATED MEDIA HOLDINGS | PBL chiefs step in on media, public relations (The Australian) TOUGH economic conditions and high debt at PBL Media have forced its top management -- including chief executive Ian Law -- to handle media and public relations in person... |
| CNP | CENTRO PROPERTIES GROUP | Bankers, security holders hem in Centro (The Australian) CENTRO Properties Group walked a tightrope between its security holders and bankers yesterday... |
| CNP | CENTRO PROPERTIES GROUP | Centro chiefs still locked in survival talks with lenders (The Sydney Morning Herald) THE embattled Centro Properties Group has entered potentially the last month of its existence and must get approval from its bankers to extend the multi-billion dollar debt deadline or go into receivership, its chairman, Paul Cooper, told shareholders yesterday... |
| DJS | DAVID JONES | Investors turn on DJs over card upheaval (The Sydney Morning Herald) THE chairman of the retailer David Jones was yesterday on the back foot after a shareholder revolt over the company's decision to axe its long-standing shareholder discount and replace it with an offer to sign up for rewards through its new credit card... |
| FXJ | FAIRFAX MEDIA | Fairfax told to cut dividend to pay debt and lift shares (The Sydney Morning Herald) MAJOR shareholders have called on Fairfax Media to reduce its dividend payout to retire debt early, as market concerns about its borrowings weigh on its share price... |
| HVN | HARVEY NORMAN HOLDINGS | It's a very fine line between sales and spin (The Australian) FORMER Bunnings boss Joe Boros once declared "this company is not a participant in a recession", which neatly explains the position taken by retail leaders this week... |
| MFI | MARINER FINANCIAL | Mariner's chief Bill Ireland ignored director demands (The Australian) BILL Ireland spent more than two months ignoring fellow Mariner directors' demands for details of his trading in the struggling company's shares... |
| MQG | MACQUARIE GROUP | Macquarie Bank chair takes sick leave (The Australian) DAVID Clarke, chairman of investment bank Macquarie, has been diagnosed with cancer and will leave the bank for six months... |
| MQG | MACQUARIE GROUP | Macquarie stalwart to stand aside (The Sydney Morning Herald) DAVID CLARKE, the architect of Macquarie Group's transformation from a boutique Sydney merchant bank into the global financial services combine of today, is battling cancer, forcing him to stand aside from the chairmanships of three ASX-listed companies... |
| MTN | MARATHON RESOURCES | Marathon set to expand wilderness drilling (The Australian) URANIUM exploration company Marathon Resources has declared its desire to expand its controversial drilling program -- as soon as the Rann Government provides approval... |
| NWS | NEWS CORPORATION | Murdoch eyes NYTimes for empire: author (The Sydney Morning Herald) Seizing The Wall Street Journal for his News Corp media empire would be an audacious master stroke for Rupert Murdoch - unless he tops it by trying to buy The New York Times Co... |
| OZL | OZ MINERALS | OZ Minerals in shock trading halt due to debt (The Australian) DIVERSIFIED miner OZ Minerals shocked the market yesterday by placing itself in a trading halt... |
| QAN | QANTAS AIRWAYS | Bumpy ride for Qantas executive pay plan (The Australian) QANTAS shareholders worried about executive pay logged their protest with a hefty vote against the airline's remuneration report... |
| QAN | QANTAS AIRWAYS | In defence of Ward (The Australian) THE veil of boardroom secrecy was lifted a touch by new Qantas director Barbara Ward, who defended her position in a statement before being formally elected at yesterday's Qantas annual meeting in Brisbane... |
| QAN | QANTAS AIRWAYS | Shareholders vent anger at Qantas AGM (The Sydney Morning Herald) IT WAS hardly the exit Geoff Dixon would have wanted. After eight years as Qantas's boss, Mr Dixon had to face the ignominy on his last day of more than 40 per cent of shareholders voting against his $12 million salary and the pay packets for his senior executive team... |
| RIO | RIO TINTO | Legal threat to takeover hold-outs (The Australian) BOARDS that reject takeover bids only to find their prospects collapse once a suitor retreats face an increasing backlash from investors... |
| RIO | RIO TINTO | Analysts flay Rio but BHP is rewarded (The Australian) BHP Billiton has been rewarded for the backflip on its year-long $135 billion bid for rival Rio Tinto... |
| RIO | RIO TINTO | How the game unfolded (The Sydney Morning Herald) NOV 8, 2007 BHP Billiton confirms it has put forward a takeover proposal to Rio Tinto, which rejects it, saying it significantly undervalues the company... |
| TLS | TELSTRA CORPORATION | Broadband monopoly is Telstra's game (The Australian) TELSTRA has one simple, very precise and coldly calculated ambition... |
| VBA | VIRGIN BLUE HOLDINGS | Virgin on schedule to reduce flights (The Australian) IN another sign of Australia's economic slowdown, budget airline Virgin Blue has indicated it may cut its number of flights next year by nearly 10 per cent if current conditions continue... |
| VBA | VIRGIN BLUE HOLDINGS | Virgin Blue cuts spending as demand softens (The Sydney Morning Herald) LOW-COST carrier Virgin Blue has deferred some capital expenditure for the 2009 fiscal year due to challenging conditions in aviation markets and said it has no need to raise fresh capital... |
| WES | WESFARMERS | It's a very fine line between sales and spin (The Australian) FORMER Bunnings boss Joe Boros once declared "this company is not a participant in a recession", which neatly explains the position taken by retail leaders this week... |
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