Archive for March 15th, 2006
Move to ’sabotage’ Mittal takeover
Luxembourg’s Chamber of Commerce has joined Europe’s lurch towards protectionism, tabling last-minute changes to the country’s takeover law in an alleged move to sabotage Mittal Steel’s €19.6bn bid for Arcelor.
The proposals would require the option of full cash payment for hostile takeovers unless a quarter of the bidder’s shares are liquid, with equal voting rights.
As [...]
Posted: March 15th, 2006 under Steel.
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Another blow for West Midlands Engineering
Almost 400 workers in Darlaston and Willenhall have been warned they could lose their jobs after receivers were called in by engineering giant Caparo.
A pensions crisis at the Armstrong group, the nuts and screws arm of Caparo, led to administrators from PricewaterhouseCoopers being called in on Monday night.
The news was broken yesterday morning to the [...]
Posted: March 15th, 2006 under Steel.
Comments: none