LONDON (Thomson Financial) - Here are the top stories on Thomson Financial News Countrywide shareholders approve improved Apollo offer
LONDON (Thomson Financial) - Shareholders in UK property agency Countrywide PLC have approved an improved offer from US private equity firm Apollo, ending the long-running takeover saga.
At an EGM this morning, shareholders gave the green light to Apollo's improved offer of 530 pence in cash and 0.16487 Rightmove PLC shares per Countrywide share, tabled yesterday after Countrywide received a tentative approach from a third party, believed to be private equity firm 3i. Tchenguiz ready to push Sainsbury's board into realising property value
LONDON (Thomson Financial) - Property tycoon Robert Tchenguiz has confirmed in an interview with The Daily Telegraph he wants the board of J Sainsbury PLC to realise value from its portfolio of 750 supermarkets.
Earlier this week, Tchenguiz upped his stake in the UK's third-biggest supermarket chain to 5.07 pct from 4.67 pct despite the collapse of CVC's 10.2 bln stg offer approach. Glaxo wins FDA approval for Altabax as treatment for impetigo skin infection
PHILADELPHIA (Thomson Financial) - GlaxoSmithKline said its Altabax antibacterial has been approved by the US Food and Drug Administration as a topical treatment for impetigo, a highly contagious skin infection most commonly found among children aged 2-6 years.
The company said in a statement that Altabax is the first new class of prescription topical antibacterials to be approved by the FDA in nearly two decades. John Lewis week to April 7 department store sales up 2.9 pct
LONDON (Thomson Financial) - John Lewis Partnership, the employee-owned retailer, said week to April 7 sales at its 26 UK department stores increased 2.9 pct to 47.6 mln stg, while sales at its chain of 183 Waitrose supermarkets rose 27.8 pct to 84.4 mln stg.
Total sales increased 17.4 pct to 132.2 mln stg. ILX sees FY operating profit significantly below market expectations
LONDON (Thomson Financial) - ILX Group PLC said it sees full-year operating profit 'significantly below' market expectations on a disappointing trading performance at its Mount Lane unit.
The business training company said it sees group operating profit for the year to end-March 2007 at 1.6 mln stg, up 60 pct from a year ago. ABN Amro hires Goldman Sachs to advise on Barclays bid - report
AMSTERDAM (Thomson Financial) - ABN Amro Holding NV's supervisory board has hired Goldman Sachs Group Inc. to advise it as the board and bank weigh a potential takeover offer from Barclays PLC, people familiar with the situation told the Wall Street Journal.
Goldman's advisory role is seen as a guide to whether rival bidders might emerge to break up Barclays's potential bid, the newspaper added. St Modwen sells Northern Racing stake for 17.7 mln stg
LONDON (Thomson Financial) - St Modwen Properties PLC said it has sold its 27.2 pct stake in Northern Racing PLC to Aldersgate Investments Ltd, a company owned by the Reuben brothers, for 17.7 mln stg.
It follows an announcement yesterday that NR Acquisitions, a company owned by Aldersgate, will buy Northern Racing for 200 pence per share. UK median pay settlement remains at 3.5 pct in three months to March - IDS
LONDON (Thomson Financial) - UK pay gains remained steady in the three months to March, due largely to private sector wage growth, research showed.
IDS, a publisher of information on employment issues, said the median for pay settlements in the three months through March remained steady at 3.5 pct, up only slightly from 3.42 pct registered in February and the same rate as in January. Auto: London shares
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