LONDON (AFX) - Here are the top stories on AFX News Barry O'Callaghan considering bid for Reed Elsevier education arm - source
LONDON (AFX) - Barry O'Callaghan, the head of Irish educational software publisher Riverdeep, is considering a bid for Reed Elsevier PLC's educational publishing business, a source familiar with the matter said today.
The interest comes a day after the Anglo-Dutch publisher surprised the market by saying it wanted to sell its underperforming education division, Harcourt Education, to focus on its faster-growing science, legal and business publishing businesses. Cinven abandons plan to bid for Sainsbury's - report
LONDON (AFX) - Cinven has abandoned plans for a rival consortium to bid for J Sainsbury PLC after its partner Texas Pacific Group joined the CVC-led team that is planning a takeover proposal, The Times reported.
Citing sources, it said that with Sainsbury's share price above 500 pence, Cinven has decided not to proceed. Weir Group says in talks to sell Weir Pumps to Sulzer for 48 mln stg
LONDON (AFX) - Weir Group PLC said it is in advanced talks to sell its Glasgow-based pump manufacturing unit Weir Pumps to Switzerland's Sulzer AG for 48 mln stg.
Weir Group chief executive Mark Selway said: 'Weir Pumps business represents 8 pct of Weir Group revenue and a lower percentage of annual profits. The business competes in the global marketplace against manufacturers who have an established presence in low cost countries. Australia's IBA confirms in talks to buy iSoft
LONDON (AFX) - Australian health IT company IBA Health Ltd has confirmed it is preparing an all-share offer for Britain's loss-making iSOFT group PLC.
iSoft, valued at just over 100 mln stg and a key supplier to the 12.4 bln stg overhaul of Britain's National Health Service computer systems, said yesterday it was still considering a number of options. Go-Ahead H1 pretax, pre-ex profit up 17 pct to 50.9 mln stg
LONDON (AFX) - Bus and train operator Go-Ahead Group PLC saw its half-year pretax profit before amortisation and exceptional items rise by 17 pct to 50.9 mln stg compared to 43.6 mln stg in the same period the previous year.
The group's revenue increased by 35 pct to 915.2 mln stg from 675.9 mln stg last time. Go-Ahead has proposed an interim dividend of 23 pence per share, 28 pct up on the 18 pence it paid in 2005. Compass says 1st four months trading 'marginally ahead of expectations'
LONDON (AFX) - Compass Group PLC, the world's largest catering group, said trading in the first four months of the year has been 'encouraging' and is 'marginally' ahead of expectations.
The group said the process of selling its European vending business, Selecta, is 'well underway and has generated significant interest'. BHP Billiton prices 600 mln eur euro bond and 18-month floating rate note
LONDON (AFX) - BHP Billiton PLC said it has priced 600 mln eur of 4.375 pct euro bonds due February 2014 and 600 mln eur of 18-month floating rate notes due August 2008.
The company said it will use the proceeds to finance short-term debt. Boeing, Lockheed Martin mull UK defense takeovers - report
LONDON (AFX) - US defence manufacturers Boeing Co and Lockheed Martin Corp are interested in acquiring British defence companies with the aim of winning more defence contracts from the British government, The Times reported.
The newspaper added that the two defence giants were understood to have independently approached, and have been rebuffed by, battlefield-IT specialist Ultra Electronics. Auto: London shares
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