News

WalMart/ Asda

Premium 01 August 1999

US retailing giant WalMart is to buy the UK supermarket chain Asda Group in a cash deal valued at US$10.8 billion.

Borg-Warner Automotive/ Kuhlman

Premium 01 August 1999

Chicago-based car components manufacturer Borg-Warner Automotive has acquired engine manufacturer Kuhlman in a US$680 million transaction completed in March.

TotalFina/ Elf

Premium 01 August 1999

Consolidation in the oil industry shows no sign of abating, with French oil giant TotalFina launching an unsolicited US$42.98 billion allstock bid for French-based Elf- Aquitaine in early July.

Stagecoach/ Coach USA

Premium 01 August 1999

The UK’s largest transport group, Stagecoach, is to purchase Houstonbased company Coach USA in a transaction valued at US$1.8 billion.

Vivendi/ Pathe

Premium 01 August 1999

French group Vivendi is to buy the pay- TV operations of film and television producer Pathé in a deal valued at US$2.5 billion.

Supermarket enquiry

Premium 01 July 1999

The UK Competition Commission has launched a 12-month enquiry into claims of profiteering by the UK’s biggest supermarket groups.

BP Amoco/Arco

Premium 01 July 1999

The newly merged oil giant BP Amoco is to expand further with the acquisition of Atlantic Richfield Co (Arco) in a stock deal valued at US$26.8 billion.

Inquiry into UK new car market

Premium 01 July 1999

The Competition Commission has launched an inquiry into the £24 billion-a-year new car market in the UK. Director of Fair Trading John Bridgeman ordered the inquiry after an Office of Fair Trading investigation suggested that certain practices by UK car manufacturers and dealers distorted competition.

Vitamin cartel

Premium 01 July 1999

Swiss pharmaceutical company Hoffmann-La Roche agreed to plead guilty to leading a world-wide conspiracy to raise and fix vitamin prices, and is to pay the highest ever fine levied by the Department of Justice in a criminal case – US$500 million.

DoJ brings antitrust case against American Airlines

Premium 01 July 1999

The United States Department of Justice has filed an antitrust suit against American Airlines for alleged predatory behaviour on routes out of its Dallas hub.