News

Eaton/Aeroquip-Vickers

Premium 01 May 1999

US engineering group Eaton is to acquire Aeroquip-Vickers in a US$1.7 billion deal which is expected to create unparalleled strength in the mobile hydraulics sector.

TRW/Lucas Varity

Premium 01 May 1999

Automotive and space technology provider TWR Inc has beaten Federal-Mogul in its bidding war for British autoparts and aerospace group LucasVarity plc.

Valmet/Rauma

Premium 01 May 1999

The European Commission has cleared a merger between two Finnish paper and pulp machinery manufacturers, Valmet and Rauma.

MS/PMSI

Premium 01 May 1999

The UK Monopolies and Mergers Commission recently ruled that the merger between pharmaceutical business information firms IMS Health INC and Pharmaceutical Marketing Services INC (PMSI) could reduce competition in pharmaceutical data services, and required IMS to divest the Source Dispenser business and to give undertakings in relation to supplying these services.

AT&T/BT

Premium 01 May 1999

The European Commission has cleared the US$11 billion joint venture between BT and AT&T to create the world’s largest carrier of transit services.

Telecom Italia/Olivetti

Premium 01 May 1999

Italian telecommunications group Olivetti has launched a £37 billion hostile takeover bid for Telecom Italia, formerly the state monopoly provider. The bid will require Olivetti to divest its stake in the Omnitel mobile phone and the Infostrada fixed-line network. This will be the largest corporate takeover in Italian history if successful.

BNP/Société Générale/Paribas

Premium 01 May 1999

French banking group Société Générale has announced plans to merge with Compagnie Financière de Paribas.

Volvo/Ford

Premium 01 May 1999

Ford Motor Company is set to become the world’s second largest car manufacturer if its planned £4 billion acquisition of AB Volvo of Sweden goes through.

GEC/British Aerospace

Premium 01 May 1999

British Aerospace plc took a lead role in European defence consolidation with plans to buy General Electric Co’s Marconi defence unit for £7.7 billion.

Bogle & Gates dissolution

Premium 01 May 1999

Seattle firm Bogle & Gates PLLC ceased to practise law on March 31. The decision to dissolve the 173-lawyer firm followed the departure of eight partners to the Seattle office of Dorsey and Whitney in January.