DealZone Daily

December 14, 2009

British chocolate maker Cadbury (CBRY.L) ramps up its targets for sales and operating margins to show it’s worth more than Kraft’s (KFT.N) hostile $16.5 billion offer. It says it has seen interest from other bidders, but doesn’t mention them . Stock markets are unimpressed — Cadbury shares are up only 0.7 percent.

In the wrangling over Saab, Beijing Automotive Industry Holding Corp (0r BAIC) has said it has acquired some of the assets of the General Motors unit.

French insurer AXA (AXAF.PA) and Australia’s AMP Ltd (AMP.AX)  have raised their takeover offer for AXA Asia Pacific Holdings to $11.7 billion — a 16 percent rise. The two are keen to get their hands on different parts of the business. The French insurer is already the biggest shareholder in AXA Asia Pacific Holdings, and also its parent company.

For the rest of the latest deal-related news from Reuters, click here.

In other media:

Hugh Osmond, the entreprenuer behind Punch Taverns (PUB.L) and Pizza Express, is backing investment vehicle Horizon, which is aiming to raise 500 million pounds and list on the LSE’s main market in January, the Financial Times reports.

AOL (AOL.N) is in talks to sell its ICQ instant-messaging service to Russian investment firm Digital Sky Technologies, The Wall Street Journal reported on Sunday, citing people familiar with the matter.

Royal Dutch Shell (RDSa.L) has appointed investment bank Lazard to sell its Swedish unit, while BP (BP.L) is looking to sell its French petrol stations, the Sunday Times reports.

India’s Tata Steel (TISC.BO) is in talks with investors to raise 50 billion rupees ($1.1 billion) in equity and an equal amount in debt, the DNA newspaper reports.

National Express’s (NEX.L) largest shareholder, the Cosmen family, will participate in the transport group’s 360 million pounds ($594.3 million) rights issue after earlier opposing it, the Mail on Sunday reports.

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see