LONDON (AFX) - Here are the top stories on AFX News Alliance Boots opens books to Pessina/KKR as offer raised to 10.40 stg
LONDON (AFX) - Alliance Boots PLC, the international health and beauty group, has agreed to open its books to Stefano Pessina, its executive deputy chairman and 15 pct shareholder, and private equity group Kohlberg Kravis Roberts (KKR), after the consortium put forward a revised takeover proposal of 10.40 stg a share in cash.
'The board has agreed to grant KKR and Stefano Pessina a limited period to undertake confirmatory due diligence,' said the group, created from the merger of Boots Group and Alliance UniChem last July. UK's OFT refers BAA for competition probe
LONDON (AFX) - The Office of Fair Trading UK Civil Aviation Authority said it has referred the supply of airport services by BAA to the Competition Commission.
The decision to probe the services of the owner of Heathrow, Gatwick and Stanstead airports, follows a public consultation by the OFT after the watchdog proposed to refer BAA, owned by Spanish construction group Grupo Ferrovial SA, to the commission in December last year. BA strikes deal to buy Heathrow runway slots from BMI - report
LONDON (AFX) - British Airways PLC has struck a secret deal to buy lucrative runway slots at Heathrow from its rival BMI British Midland, the Times has reported on its website.
The deal adds to the speculation over the future of BMI, which is regarded as an obvious takeover target because it owns 12 pct of Heathrow's runway capacity. Man Group to demerge US-based brokerage arm - report
LONDON (AFX) - Listed UK hedge fund operator Man Group PLC plans to demerge its US-based brokerage arm and list it in New York, unnamed sources told the Financial Times, in a move that could value Man Financial at 2.5 bln stg (5 bln usd).
People close to the situation told the paper that news of the long awaited demerger will accompany a trading update due today. However the company might give itself a get-out clause by including a review of other options, it said. Imperial Tobacco to begin talks with Altadis within days - report
MADRID (AFX) - Imperial Tobacco Group PLC is to begin talks with Altadis SA over a new takeover bid within days, El Pais reported, citing unnamed sources.
Imperial is reportedly looking to sweeten its original 45.0 eur per share bid for the Franco Spanish tobacco group to at least 50 eur per share. John Lewis week to March 24 dept store sales up 2.3 pct; Waitrose up 7.6 pct
LONDON (AFX) - John Lewis Partnership, the employee-owned retailer, said week to March 24 sales at its 26 UK department stores rose 2.3 pct to 47.99 mln stg, while sales at its chain of 183 Waitrose supermarkets increased 7.6 pct to 73.63 mln stg.
Total partnership sales increased 5.4 pct to 121.96 mln stg. Resolution says talks over possible sale terminated
LONDON (AFX) - Closed life fund consolidator Resolution PLC said talks with various parties over a possible sale of the group have been called off, leaving it free to resume looking for possible acquisitions and mergers.
Resolution, which specialises in buying and profitably managing life insurance funds that no longer accept new customers, announced in November that it had entered talks with unnamed parties over a range of possible deals including a sale of the business. Shanks Group sees FY trading in line with expectations
LONDON (AFX) - Waste management company Shanks Group PLC said it expects overall trading for the year to March 31 2007 to be in line with its expectations.
Updating the market ahead of full year results release on May 31 2007, the company said its mainland European operations have performed well in the period and its potential within the UK municipal waste market remains high. Vodafone unveils mobile deal with Asda
LONDON (AFX) - Mobile phone giant Vodafone Group PLC has struck a deal with Asda, which will see the supermarket chain sell branded mobile phone services to shoppers.
The deal will be similar to the agreement between Tesco and Telefonica's O2, under which the UK's biggest grocer rents airtime on the O2 network. Over 1 mln Tesco customers have signed up to the service since its launch in 2003. UK's robust economic growth to moderate in 2008 - NIESR
LONDON (AFX) - The UK's economic growth will remain robust this year but begin to ease going into next year, the National Institute for Economic and Social Research said today.
As part of a bi-annual report for the European Commission on the UK and euro area economies, the NIESR said it expects UK GDP to grow by 2.75 pct this year and 2.50 pct in 2008. Inflation should moderate from 2.8 pct currently to hover just above the Bank of England's 2.0 pct target over the next couple of years. ITV, Setanta win FA Cup and England rights from Sky, BBC - reports
LONDON (AFX) - Britain's biggest commercial broadcaster ITV and its partner Setanta Sports have won the rights to broadcast the English FA Cup and England's home international matches, according to several British media reports.
The BBC and satellite broadcaster BSkyB had previously shared the rights to the two sports offerings, and their four-year deal with the Football Association is set to expire next summer. COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited