Bling_Bling
04-02-2005, 06:49 AM
Last year was an interesting year for corprate activities on the market. I think this year will see more action. Would like ST posters views which potential company is ripe for corporate action.
Here is three articles from the NZ Herald.
Two parties eye up CDL
04.02.05
by Anne Gibson
Two parties have looked at property investor CDL Investments' books as a precursor to a takeover, the company has revealed.
John Lindsay, a director of CDL and its wholly owned subsidiary CDL Land NZ, said rising interest in property had led the two parties to investigate opportunities last year.
The debt-free company, whose shares are trading around 37c, had $64 million worth of property which included 240ha of undeveloped land.
"Competitors investigated the option of a takeover," Lindsay said. "We have quite a portfolio of land."
The business' untapped potential made it attractive as a target.
Directors had not been told of any further investigations as part of a takeover offer.
Lindsay, who is also the manager of CDL Land, said he had been with the company for about a decade and, in that time, many parties had investigated taking over the company.
For a takeover offer to succeed, a predator would have to negotiate with majority owner and separately listed company CDL Hotels.
The listed hotel company owned 62 per cent of CDL Investments, Lindsay said, adding that 20 shareholders controlled 80 per cent of the property investment business.
Shareholder Bruce Sheppard blanched at the idea of a takeover.
"It would be a pretty hard thing for someone to pull off," he said, citing CDL Hotel's majority interest.
http://www.nzherald.co.nz/index.cfm?c_id=3&ObjectID=10009396
Fletcher wants all of Amatek
04.02.05
By PAUL PANCKHURST
The speculation is over: Fletcher Building will hang on to all of the businesses within CVC Amatek if it pulls off a $500 million to $600 million deal to buy the Australian building products company.
That would increase Fletcher Building's annual revenue - already on track to top $4 billion this financial year - by another $700 million to $800 million.
Talking to the Business Herald last night, chief executive Ralph Waters rejected analysts' speculation the company might want only one part of the business, insulation manufacturer Insulation Solutions.
That is important because it means the scale of the intended buy is finally clear.
Fletcher Building has a market capitalisation of $2.9 billion - the total value of all of the shares on issue - and manufactures and sells building industry materials in in New Zealand and Australia.
Amatek is owned by CVC Capital Partners, and its products and operations include insulation, concrete pipes, roofing and quarries.
Waters said all were complementary to Fletcher Building.
"We're already in every one of the businesses that are for sale."
He could "never say never" to asset sales in the long term, but if Fletcher Building and Amatek completed a deal, "we have made no agreements with anybody to sell any of the assets".
He was commenting after the Australian Competition and Consumer Commission yesterday said it had no objections to the acquisition of Insulation Solutions by Fletcher Building.
Waters said a "make or break" hurdle had been jumped "but there's still a lot of other hurdles to get over" to complete an acquisition.
"On big transactions, there's always difficulties. We will try to bring it to a conclusion in the next few weeks - one way or another."
Insulation Solutions makes insulation products from glass wool and reflective foil.
The acquisition of Insulation Solutions would leave Fletcher Building with one main competitor in the sector in Australia - CSR.
The ACCC said a purchase by Fletcher Building was unlikely to substantially lessen competition because consumers could import glass wool - imposing a natural constraint on a domestic operator.
The Amatek group also includes Rocla, which makes concrete pipes, and Stramit, a manufacturer of roll-formed stee
Here is three articles from the NZ Herald.
Two parties eye up CDL
04.02.05
by Anne Gibson
Two parties have looked at property investor CDL Investments' books as a precursor to a takeover, the company has revealed.
John Lindsay, a director of CDL and its wholly owned subsidiary CDL Land NZ, said rising interest in property had led the two parties to investigate opportunities last year.
The debt-free company, whose shares are trading around 37c, had $64 million worth of property which included 240ha of undeveloped land.
"Competitors investigated the option of a takeover," Lindsay said. "We have quite a portfolio of land."
The business' untapped potential made it attractive as a target.
Directors had not been told of any further investigations as part of a takeover offer.
Lindsay, who is also the manager of CDL Land, said he had been with the company for about a decade and, in that time, many parties had investigated taking over the company.
For a takeover offer to succeed, a predator would have to negotiate with majority owner and separately listed company CDL Hotels.
The listed hotel company owned 62 per cent of CDL Investments, Lindsay said, adding that 20 shareholders controlled 80 per cent of the property investment business.
Shareholder Bruce Sheppard blanched at the idea of a takeover.
"It would be a pretty hard thing for someone to pull off," he said, citing CDL Hotel's majority interest.
http://www.nzherald.co.nz/index.cfm?c_id=3&ObjectID=10009396
Fletcher wants all of Amatek
04.02.05
By PAUL PANCKHURST
The speculation is over: Fletcher Building will hang on to all of the businesses within CVC Amatek if it pulls off a $500 million to $600 million deal to buy the Australian building products company.
That would increase Fletcher Building's annual revenue - already on track to top $4 billion this financial year - by another $700 million to $800 million.
Talking to the Business Herald last night, chief executive Ralph Waters rejected analysts' speculation the company might want only one part of the business, insulation manufacturer Insulation Solutions.
That is important because it means the scale of the intended buy is finally clear.
Fletcher Building has a market capitalisation of $2.9 billion - the total value of all of the shares on issue - and manufactures and sells building industry materials in in New Zealand and Australia.
Amatek is owned by CVC Capital Partners, and its products and operations include insulation, concrete pipes, roofing and quarries.
Waters said all were complementary to Fletcher Building.
"We're already in every one of the businesses that are for sale."
He could "never say never" to asset sales in the long term, but if Fletcher Building and Amatek completed a deal, "we have made no agreements with anybody to sell any of the assets".
He was commenting after the Australian Competition and Consumer Commission yesterday said it had no objections to the acquisition of Insulation Solutions by Fletcher Building.
Waters said a "make or break" hurdle had been jumped "but there's still a lot of other hurdles to get over" to complete an acquisition.
"On big transactions, there's always difficulties. We will try to bring it to a conclusion in the next few weeks - one way or another."
Insulation Solutions makes insulation products from glass wool and reflective foil.
The acquisition of Insulation Solutions would leave Fletcher Building with one main competitor in the sector in Australia - CSR.
The ACCC said a purchase by Fletcher Building was unlikely to substantially lessen competition because consumers could import glass wool - imposing a natural constraint on a domestic operator.
The Amatek group also includes Rocla, which makes concrete pipes, and Stramit, a manufacturer of roll-formed stee