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BUSINESS
June 25, 1988 | Associated Press
Jacobs Suchard AG conceded defeat on Friday in the takeover battle for British confectioner Rowntree PLC to Swiss foods giant Nestle SA, which now will displace Suchard as the world's second-largest confectioner. But Suchard, which agreed to sell its 28.4% stake in Rowntree to Nestle for 690 million pounds ($1.2 billion), is walking away with a hefty profit, which analysts estimate at more than 200 million pounds.
BUSINESS
May 11, 1988 | Associated Press
Britain is in a lather over foreign stake-building in some of its largest companies and is hinting at moves to block incursions into British Petroleum Co. and two big confectioners. While the rumblings echo familiar patriotic strains, the government says its concerns are strategic, not protectionist. The BP case, for example, involves the purchase of a major stake in the company by an OPEC member, which could put the interests of British shareholders at risk, the critics say.
BUSINESS
April 27, 1988 | From Reuters
Nestle SA presented a takeover offer for Rowntree PLC on Tuesday that valued the British confectioner at $3.9 billion and sparked expectations of a bidding war here between Switzerland's top chocolate makers. Rowntree, which also has been eyed by Jacob Suchard AG, called the takeover offer unwelcome. "It is our intention to remain independent," a Rowntree spokeswoman said, but the firm's continued independence appeared less likely as Suchard responded angrily to Nestle's move.
BUSINESS
June 25, 1988 | Associated Press
Jacobs Suchard AG conceded defeat on Friday in the takeover battle for British confectioner Rowntree PLC to Swiss foods giant Nestle SA, which now will displace Suchard as the world's second-largest confectioner. But Suchard, which agreed to sell its 28.4% stake in Rowntree to Nestle for 690 million pounds ($1.2 billion), is walking away with a hefty profit, which analysts estimate at more than 200 million pounds.
BUSINESS
May 11, 1988 | Associated Press
Britain is in a lather over foreign stake-building in some of its largest companies and is hinting at moves to block incursions into British Petroleum Co. and two big confectioners. While the rumblings echo familiar patriotic strains, the government says its concerns are strategic, not protectionist. The BP case, for example, involves the purchase of a major stake in the company by an OPEC member, which could put the interests of British shareholders at risk, the critics say.
BUSINESS
April 27, 1988 | From Reuters
Nestle SA presented a takeover offer for Rowntree PLC on Tuesday that valued the British confectioner at $3.9 billion and sparked expectations of a bidding war here between Switzerland's top chocolate makers. Rowntree, which also has been eyed by Jacob Suchard AG, called the takeover offer unwelcome. "It is our intention to remain independent," a Rowntree spokeswoman said, but the firm's continued independence appeared less likely as Suchard responded angrily to Nestle's move.
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