Scorpion gets new CEO, CFO after Seadrill offer

July 10, 2010 By Leave a Comment

July 9 (Reuters) – The top management of rig firm Scorpion Offshore (SCORE.OL) has been replaced in the wake of an offer by Seadrill (SDRL.OL) for its shares.

In May, rig firm Seadrill outbid rival Ensco International (ESV.N) for the control of the Oslo-listed owner of jack-up drilling rigs. [ID:nLDE64R0P5]

John C. Cole, Scorpion’s President and CEO, and Mark L. Mey, the firm’s Vice-President and CFO, have tendered their resignations and are no longer with the company, Scorpion said in a statement.

“The resignations are in connection with the pending mandatory offer issued by Seadrill to acquire the shares of Scorpion,” the firm said late on Thursday.

They will be replaced by Tim Juran, who becomes President and CEO, and Rune Magnus Lundetrae as Vice-President and CFO. Both are employed by Seadrill.

Seadrill currently owns 50.11 percent of Scorpion Offshore’s shares after a bidding war with Ensco International. (Reporting by Gwladys Fouche; Editing by Michael Urquhart)

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Australia’s Healthscope gets 2 more takeover offers

May 31, 2010 By Leave a Comment

(Reuters) – Australian hospital operator Healthscope (HSP.AX) said on Monday it has got two more takeover offers valuing the company at more than A$1.84 billion ($1.56 billion) as a bidding war intensifies.

Deals

The offer price of A$5.80 a share was 0.9 percent higher than an existing offer for the group and a 10.9 per cent premium to Friday’s closing share price.

The shares rose 5.7 percent to A$5.53 in early trade, a 4.6 percent discount to the latest offer.

Healthscope in a statement advised shareholders to take no action and added it would take several weeks to evaluate the offer.

Last week, a source said private equity firm Blackstone Group LP (BX.N) had joined TPG and Carlyle in their bid at A$5.75 a share.

Private equity firm Kohlberg Kravis Roberts was also planning to lodge a bid for the company, media reports said Monday.

At least three analysts have put valuations of between A$5.80 and A$6.70 on Healthscope if the company’s hospitals and pathology arms were broken up.

The bid would be the largest private equity bid in Australia since 2008.

(Reporting by Michael Smith; Editing by Ed Davies)

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UK’s big parties scramble for power-sharing deal

May 11, 2010 By Leave a Comment

Britain’s Liberal Democrats will pursue a deal on Tuesday to form a government with one of the two larger political parties after an inconclusive election that forced Prime Minister Gordon Brown to say he would resign.

Brown’s announcement, designed to keep his Labour Party in power, disrupted efforts by the centre-right Conservatives to broker a power-sharing deal with the Liberal Democrats after the country’s first election producing no clear winner since 1974.

With markets and voters keen for an end to the political uncertainty that followed last Thursday’s close-fought poll, Liberal Democrat lawmaker Simon Hughes said his party hoped it could reach an agreement later on Tuesday.

“We are determined to make sure this process is concluded very soon, if it can be today then it will be, certainly very soon indeed,” he told Sky News. “We would like to do it today.”

The Conservatives emerged as the largest party in parliament in the election but fell 20 seats short of an outright majority in the 650-seat parliament, leading to a bidding war between the three main political blocs.

They quickly began talks with the centre-left Liberal Democrats, or Lib Dems, on a government alliance. However, the smaller party wanted clarity on issues such as electoral reform.

The Conservatives responded to Brown’s statement by offering the Lib Dems a place in a coalition and a referendum on limited reform of the voting system that falls short of their demand for a genuinely proportional system.

“That is our last offer in that area,” George Osborne, Conservative finance spokesman and election co-ordinator, told the BBC. “But I am very willing to discuss with the Liberal Democrats how we create that strong, secure government and deal with this massive economic problem.”

BROWN TO STEP DOWN

Sensing a hesitancy on the part of the Lib Dems, Brown said he would step down by the time Labour holds its annual party meeting in September.

Lib Dem leader Nick Clegg had said during the campaign that he was reluctant to work with Brown and the prime minister’s departure could smooth the path to a deal.

Sterling and British government bonds fell on the uncertainty, with markets taking fright at the prospect of prolonged political uncertainty in a country struggling with a record budget deficit.

Clegg, 43, finds himself in a difficult situation. His party has more in common with Labour in terms of policy, but the two parties combined would be unable to command a majority and would need to enlist the support of smaller parties in a potentially more unstable “rainbow coalition”.

An alliance with the Conservatives would offer a more stable formation, with a strong majority but a more difficult political compromise. Activists on one Lib Dem website were leaning towards a deal with the Conservatives, rather than Labour.

“How can anyone with any gumption call for stable government and then propose allying with a party which is going to spend the next four months in a bitter leadership contest?” said one blogger on Liberal Democrat Voice.

Britain is unfamiliar with coalition negotiations and the talks cannot drag on for weeks as they do in some of its continental European neighbours.

David Laws, one of the Lib Dem party’s negotiating team, said there would a further meeting on Tuesday “to have discussions about where we are and see if we can resolve the existing issues that are outstanding”.

Parliament is due to resume sitting on May 18 and the new government will present its programme on May 25.

(Additional reporting by Kylie MacLellan and Jodie Ginsberg; Editing by Charles Dick)

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Local market opens higher

April 13, 2010 By Leave a Comment

The Australian share market has risen above the 5,000-point threshold, boosted by miners on higher metals prices.

About 11:00am AEST, the All Ordinaries index was up 37 points to 5,010, and the ASX 200 was 36 points higher at 4,984.

Rio Tinto had jumped almost 2 per cent and BHP Billiton had added 1.3 per cent.

Shares in Macarthur Coal were more than 8.5 per cent higher at $16.90 after speculation that a bidding war for the company was set to heat up.

The Australian dollar was also stronger, trading at 93.6 US cents.

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UPDATE 1-Macarthur shares leap as market punts on Xstrata bid

April 12, 2010 By Leave a Comment

MELBOURNE, April 12 (Reuters) – Investors bet on another escalation in the bidding war for Australian miner Macarthur Coal (MCC.AX) on Monday, chasing the stock up 10 percent amid talk that coal giant Xstrata (XTA.L) could enter the fray.

Macarthur said it had yet to receive any offer from Xstrata, but this failed to hose down expectations that Xstrata could move in to trump rival bidders Peabody Energy (BTU.N), of the United States, and local coal miner New Hope Corp (NHC.AX).

The battle is fuelled by major coal miners’ desire to buy up independent coal producers in order to meet booming demand from Asian steel-makers that has driven up coal prices COAL.

Shares in Macarthur, the world’s biggest exporter of a cleaner-burning coal known as PCI, surged as much as 10 percent to A$17.17 as investors latched on to media reports that Xstrata would bid more than A$16 a share, or more than $3.7 billion.

Macarthur last week rejected an all-share offer worth $3.4 billion from New Hope and a $3.3 billion sweetened cash offer from Peabody Energy.

Key to the outcome of the bid frenzy are Macarthur’s top three shareholders — China’s CITIC Resources (1205.HK) and steel giants ArcelorMittal (ISPA.AS) and South Korea’s POSCO (005490.KS) — which have yet to say where they stand.

With the bidding war heating up and an approach to one of its shareholders from Xstrata, Macarthur last Friday deferred a vote to April 19 on its own takeover of another local rival, Gloucester Coal (GCL.AX).

The delay sparked an outcry from Gloucester’s controlling shareholder, Hong Kong-based commodities firm Noble Group (NOBG.SI), which stands to pick up a near one-quarter stake in Macarthur through the Gloucester deal.

“But let’s be clear, it appears this vote is being delayed in response to rumours, hearsay and bids that are so qualified that even seasoned professionals have no idea what is really on the table,” Noble said in release to the Singapore Exchange.

Noble said Macarthur’s top three shareholders, which together own 47.3 percent, support the Gloucester-Macarthur merger.

Macarthur said on Monday it was pressing Noble and its top shareholders to find out whether they had decided how they would vote on the Gloucester deal.

“If you do the math and add up the number of people who say they are going to vote in favour of the merger, it is a pretty simple result,” Noble said in its latest, colourful statement.

Gloucester’s (GCL.AX) independent directors said on Monday they still backed the takeover offer from Macarthur. (Reporting by Sonali Paul; Editing by Mark Bendeich)

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Macarthur says no takeover offer yet from Xstrata

April 12, 2010 By Leave a Comment

MELBOURNE, April 12 (Reuters) – Macarthur Coal (MCC.AX) has not received any takeover offer yet from coal giant Xstrata (XTA.L), amid talk that Xstrata is set to trump two other takeover offers for the Australian coal producer.

Stocks | Mergers & Acquisitions

“Macarthur confirms that it has not received any such proposal and has no further knowledge about Xstrata’s intentions other than as previously disclosed,” Macarthur said on Monday.

Facing a growing bidding war and an approach to one of its shareholders from Xstrata, Macarthur has deferred a vote to April 19 on its own takeover of Gloucester Coal (GCL.AX), a deal that would give Hong Kong-based commodities firm Noble Group (NOBG.SI) a near one-quarter stake in Macarthur. (Reporting by Sonali Paul; Editing by Mark Bendeich)

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Valenica likely to sell David Villa for 40-mn pounds

March 23, 2010 By Leave a Comment

London, Mar 23 (ANI): Chelsea and Manchester City are on the alert after debt-riddled Valencia agreed to sell striker David Villa.

Villa’s teammate Silva is also available and Manchester United is sure to fancy the attacking midfielder, who may fetch up to 20 million pounds.

The Spanish team wants to raise 50 million pounds by selling both players, but Villa could cost 40 million pounds alone if a bidding war erupts between the Premier League’s richest clubs.

Insiders say Villa, who has scored 121 goals in 223 outings for Valencia and 37 in 55 internationals, will also be wanted by Barcelona and Real Madrid, The Sun reports.

But he is likely to prefer a move to the Premier League, with Chelsea being his first choice.

Nicolas Anelka is stalling over an extended one-year deal at Chelsea and Blues fans would view Villa, 28, as a good replacement.

Villa said: “For now my head is in Valencia and the World Cup. After South Africa I will decide what”s best. My final decision won”t be based solely on money.” (ANI)

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Coming soon: a horror story on American Fritzl’s victim?

September 20, 2009 By Leave a Comment

London, Sept 20 (ANI): Publishers and Hollywood studios have begun a multi-million dollar bidding war for the rights to sex slave Jaycee Dugard’s horrifying life story.

Fresh details of the American Fritzl’s victim have emerged, including that in the early days of her captivity, the terrified schoolgirl was so hungry she ate bugs and worms in the rambling back garden where she was held in tents and lock-up sheds, reports The Daily Express.

She had to use a garden hose to shower outside, even in winters, say detectives guarding her and her two daughters, fathered by kidnapper Phillip Garrido.

However, the public apparently is desperate for the full story of how Jaycee, now 29, survived after being snatched on her way to a school bus stop when she was only 11.

A New York literary agent, who estimates the book and film rights to be worth up to 12million dollars, said: “You couldn’t dream up a script like this. Americans can’t wait to hear the story from the girl who lived it.”

A Hollywood studio producer said: “Everyone is in the market for this story. Poor Jaycee’s life may have been hell for 18 years but she’ll never want for anything for the rest of it.”

Garrido, a registered sex offender, has been linked to six child abductions and murders stretching back years within a 400-mile radius of the ramshackle home in Antioch, California, where Jaycee was held. (ANI)

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Japanese PM’s 80s pop tune hot on net auction

September 8, 2009 By Leave a Comment

London, September 8 (ANI): A single released by Japan’s future prime minister, Yukio Hatoyama, two decades ago has sparked a bidding war amongst fans at an auction site.

His pop ballad single, entitled “Take Heart – Fly, Dove of Peace,” was said to have fetched around 35,000 yen (230 pounds).

Teruaki Asanuma, the producer of the 1988 record, expressed his surprise when the bidding started at 1,000 yen.

“I never imagined that there would be a day when this tune would come into the spotlight,” The Telegraph quoted Asanuma as telling Japanese tabloid Kyodo News.

Dentist Asanuma also revealed that Hatoyama, who will be sworn in as prime minister on September 16, initially wanted to sing a traditional Japanese tune but he suggested a lighter pop style, in keeping with Hatoyama’s “urban flair”. (ANI)

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‘Lucky’ Nannes dangles between Delhi and Victoria

August 30, 2009 By Leave a Comment

New Delhi, Aug 30(ANI): Delhi Daredevil cricketer Dirk Nannes, who has been in the news for his alliance with numerous teams, has said that he considers himself lucky for the opportunities that he has been enjoying.

“I guess I’ve been lucky and bowled pretty well a couple of times and it’s been a pretty exciting journey,” The Age quoted Nannes, as saying.

“I just want to try and stay on the park as long as I can. The more I stay on the park the better I bowl,” he added.

Nannes was the only player caught in a bidding war between his Indian Premier League (IPL) team Delhi Daredevils and his home team Victoria Bushrangers for the Champions League, which is scheduled for October.

Though the Daredevils won bid due to a contractual clause, which gives preference to the IPL, but Daredevils will have to compensate Bushrangers with 200,000 dollars, keeping the three million dollar first prize money in mind.

“I’d signed an agreement with Delhi so I didn’t really have a choice. It’s an awkward situation for sure, but cricket is a funny game,” Nannes said.

“In the last 12 months I’ve played for six sides or something like that, so we’re all used to playing against each other. We’ll have a beer afterwards and we’ll go back and play together back home,” he added. (ANI)

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‘Playboy’ wins rights to serialise Vladimir Nabokov’s novella

July 10, 2009 By Leave a Comment

London, Jul 10 (ANI): Rights to the final work of late Russian-born American novelist, Vladimir Nabokov’s novella, which has stayed hidden for more than 30 years, has been won by Playboy magazine.

Playboy is to serialise the unfinished novella, ‘The Original of Laura’, and publish it this autumn in what has been widely described as the literary event of the year.

Hugh Hefner’s title won the bidding war this week to carry a hefty, 5,000-word excerpt of the novella.

Nabokov had a long and mutually agreeable relationship with Playboy, which serialised his 1969 novel, Ada, and also conducted a number of important interviews with him, in which he discussed some of the controversy that surrounded his most famous novel, Lolita.

However, there was a disagreement on whether the author would be happy to see a chunk of Laura amid the magazine’s usual fare of scantily clad women and celebrity interviews.

The late writer’s dying wish had been for the uncompleted work to be destroyed by his heirs, but the wish was disregarded and the novella was locked away ever since his death in 1977.

But last spring, Nabokov’s son Dmitri decided to put the book on the market, with Andrew Wylie, a famously predatory literary agent known as “the Jackal”, chosen to market it.

The novella tells the story about an overweight academic in an unhappy marriage to a promiscuous woman.

Playboy’s deal to publish the serialisation on 10 November, a week before the book goes on sale, was the result of a lengthy courtship by the magazine’s literary editor, Amy Grace Loyd, who resorted to sending several shipments of flowers to Wylie.

“I was very persistent, as I often am, and I try forcibly to remind people of our literary history because it is very easy for people to dismiss us,” the Independent quoted her as telling the New York Observer.

“I’m so glad all those orchids did not die in vain,” she added. (ANI)

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‘Murray winning Wimbledon will make him Beckham of tennis world with 100 mln pound deal’

July 1, 2009 By Leave a Comment

London, June 30 (ANI): British tennis ace Andy Murray could secure a 100 million pounds sponsorship deal if he wins Wimbledon, analysts have predicted.

Marketing analysts have forecast that winning Wimbledon may make the 21-year-old Scot a new David Beckham of the tennis world, sparking off a bidding war between brands.

“If he actually won, we’re talking 100 million pound-plus, because it’s just going to go on and on from there. He would become a new David Beckham of the tennis world, then he goes totally international. I have seen reports that start at 80 million or 100 million pounds and go on from there,” The Scotsman quoted Jonathan Gabay of Brand Forensics, as saying.

Gabay added that Murray could be much bigger than Tim Henman.

“Henman had the underdog quality that the English love; they could identify with him. But if Murray picks up the tournament, then he becomes a worldwide phenomenon. It would be particularly powerful because given that nobody (British] has won it in decades, he would be a one-off,” he said.

When Murray won match point against Stanislas Wawrinka in the five-set battle, the audience reached 12.6 million, with an average of 8.6 million watching during the match’s duration.

More than half of UK TV viewers were watching BBC1 in the build-up to Murray’s triumph, figures showed.

A BBC spokesman said: “From the outset it looked like the match was going to be very close so we took the decision to move it to BBC1 and to stay with it right to the end to ensure the maximum number of people could enjoy this game.”

High profile sponsors of Murray can expect to see a boost through association with the player.

Professor Paul Freathy, marketing expert at Stirling University, said: “If people can see a sport being successful by an individual, then there’s an uptake on it. That has an effect on the amount of kit being sold. For anyone sponsoring Murray, this exposure will create an awareness of that brand – it’s then down to them to capitalise on it.” (ANI)

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Merkel warns against protectionism

March 20, 2009 By Leave a Comment

Merkel warns against protectionism Berlin – German Chancellor Angela Merkel warned Thursday against protectionism in the face of the global economic and financial downturn.

“We will master the crisis together,” she told parliament ahead of a European Union summit beginning in Brussels later in the day.

Merkel said cooperation and not protectionism was the best way to combat the crisis, the effects of which have been felt around the globe.

The chancellor also cautioned against governments introducing new emergency economic packages before the ones already in place had begun to take effect – something some other European capitals have been putting pressure on Berlin over.

Merkel said she hoped the G20 conference of industrialized and emerging economies in London at the beginning of April would send an important message to the world.

“We need a psychological signal,” she said, and not “a bidding war of promises.”

Merkel said Germany had pumped more than 80 billion euros (107 billion dollars) to the EU’s 400-billion-euro economic recovery package, making it one of the biggest contributors.

As the world’s leading exporter, Germany had especially interested in ensuring that “the global economy gets back on its feet.” (dpa)

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Man U hope mega deal for Ronaldo will neutralise Real Madrid’s bid

March 2, 2009 By Leave a Comment

London, Mar.1 (ANI): Manchester United are to offer Portuguese striker Cristiano Ronaldo an incredible new recession-busting deal which will make him the Premier League’s first 200,000-pound-a-week player, and hopefully prevent Spanish football club Real Madrid from making a renewed bid for him.nited are hoping the record 10.4 million-pound a year contract will stop the Portuguese winger from joining Real Madrid.

Ronaldo still has three years left on his existing 120,000-pound a week deal, but a FIFA ruling means he can buy himself out of his contract at the end of next season.

According to The Sun, chiefs at Old Trafford have plans to offer him a basic weekly wage of 160,000 pounds plus an extra 40,000 pounds for image rights and commercial activities to keep him out of the Spanish champions’ clutches.

Spanish sources claim Ronaldo has a verbal agreement to move to Real this summer. But United boss Sir Alex Ferguson insisted: “There is no question of Ronaldo leaving.”

A Portuguese source close to the player added: “Cristiano wants to clear his head of the Real Madrid move once and for all. When he agreed to stay at United last summer he thought it would be just for one more year.

“But now he seems to be setting his mind on the long term because he realises he can fulfil all his ambitions at Old Trafford.” he new offer will add another two years to his existing agreement which expires in 2012. And that will tie the reigning World Player of the Year to the Premier League and European champions until 2014.

It will also dwarf teammate Wayne Rooney’s 115,000-pounds a week wages, England skipper John Terry’s 135,000 pounds at Chelsea, Robinho’s 160,000 pounds at Manchester City and Steven Gerrard’s 120,000 pounds at Liverpool.

Away from Ronaldo, Manchester United and Real Madrid are locked in a bidding war for Wigan winger Antonio Valencia. And that could push the price for the Ecuador international, 23, past the 20 million pound mark. (ANI)

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Jade Goody planning £1M dream wedding?

February 15, 2009 By Leave a Comment

London, Feb 14 (ANI): Cancer-stricken Jade Goody is reported to be planning a one-million-pound extravagant wedding with beau Jack Tweed for the sake of her kids.

The Big Brother star is keen to tie the knot in a “traditional” ceremony.

However, if she becomes too weak and ill, the couple will marry in hospital.

She has less than a 40 per cent chance of survival, as the cancer has spread to her bowel, groin and liver.

The 27-year-old babe is desperate to earn as much money as she can for sons, Bobby Jack, five and Freddie, four, before she looses her battle to cancer.

If reports are to be believed, she can rake in a lot of money by selling her wedding to the highest bidder.

According to sources, access to the exclusive wedding could easily top one million pounds, and Jade is keen for the cash to be put into a trust fund for her boys.

“Jade’s wedding is going to be a real tear-jerker. Every magazine editor will want to buy the rights,” the Daily Star quoted a magazine insider as saying.

“A celebrity wedding always sparks a bidding war but this will be something else.

“The fact that she is doing it to raise money for her children makes it even more heartbreaking,” the insider added.

Jade’s spokesman Max Clifford said: “We are all hoping for the best but Jade knows she may not have much time left and, to be blunt, she is desperate to earn as much money as she can. It is fair to say that selling the rights to her wedding would be a surefire way of earning a big amount of money,” he added. (ANI)

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Jade Goody planning £1M dream wedding?

February 15, 2009 By Leave a Comment

London, Feb 14 (ANI): Cancer-stricken Jade Goody is reported to be planning a one-million-pound extravagant wedding with beau Jack Tweed for the sake of her kids.

The Big Brother star is keen to tie the knot in a “traditional” ceremony.

However, if she becomes too weak and ill, the couple will marry in hospital.

She has less than a 40 per cent chance of survival, as the cancer has spread to her bowel, groin and liver.

The 27-year-old babe is desperate to earn as much money as she can for sons, Bobby Jack, five and Freddie, four, before she looses her battle to cancer.

If reports are to be believed, she can rake in a lot of money by selling her wedding to the highest bidder.

According to sources, access to the exclusive wedding could easily top one million pounds, and Jade is keen for the cash to be put into a trust fund for her boys.

“Jade’s wedding is going to be a real tear-jerker. Every magazine editor will want to buy the rights,” the Daily Star quoted a magazine insider as saying.

“A celebrity wedding always sparks a bidding war but this will be something else.

“The fact that she is doing it to raise money for her children makes it even more heartbreaking,” the insider added.

Jade’s spokesman Max Clifford said: “We are all hoping for the best but Jade knows she may not have much time left and, to be blunt, she is desperate to earn as much money as she can. It is fair to say that selling the rights to her wedding would be a surefire way of earning a big amount of money,” he added. (ANI)

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Jade Goody planning œ1M dream wedding?

February 15, 2009 By Leave a Comment

London, Feb 14 (ANI): Cancer-stricken Jade Goody is reported to be planning a one-million-pound extravagant wedding with beau Jack Tweed for the sake of her kids.

The Big Brother star is keen to tie the knot in a “traditional” ceremony.

However, if she becomes too weak and ill, the couple will marry in hospital.

She has less than a 40 per cent chance of survival, as the cancer has spread to her bowel, groin and liver.

The 27-year-old babe is desperate to earn as much money as she can for sons, Bobby Jack, five and Freddie, four, before she looses her battle to cancer.

If reports are to be believed, she can rake in a lot of money by selling her wedding to the highest bidder.

According to sources, access to the exclusive wedding could easily top one million pounds, and Jade is keen for the cash to be put into a trust fund for her boys.

“Jade’s wedding is going to be a real tear-jerker. Every magazine editor will want to buy the rights,” the Daily Star quoted a magazine insider as saying.

“A celebrity wedding always sparks a bidding war but this will be something else.

“The fact that she is doing it to raise money for her children makes it even more heartbreaking,” the insider added.

Jade’s spokesman Max Clifford said: “We are all hoping for the best but Jade knows she may not have much time left and, to be blunt, she is desperate to earn as much money as she can. It is fair to say that selling the rights to her wedding would be a surefire way of earning a big amount of money,” he added. (ANI)

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