LONDON (Thomson Financial) - Here are the top stories on Thomson Financial News Alliance Boots recommends 10.6 bln stg offer from KKR/Pessina
LONDON (Thomson Financial) - The board of Alliance Boots PLC, the international health and beauty retailer, has recommended an improved 10.9 stg a share takeover offer from Stefano Pessina, executive deputy chairman and 15 pct shareholder, and Kohlberg Kravis Roberts (KKR), the US private equity group, the parties said in a statement.
The improved offer, which is inclusive of any final dividend to be declared for the year to March 2007, values the group at 10.6 bln stg. A previous indicative offer of 10.4 stg a share valued the group at 10.1 bln stg. Pfizer 1Q profit falls 18 percent
NEW YORK (AP) - Pfizer Inc., the world's largest drug maker, said Friday profit fell 18 percent in the first quarter, hurt by one-time charges and disappointing sales of diabetes drug Exubera, but adjusted results still managed to beat Wall Street expectations by a wide margin.
Net income grew to $3.39 billion, or 48 cents per share, from $4.11 billion, or 56 cents per share, a year ago. Excluding one-time items, the company reported adjusted profit of $4.8 billion, or 68 cents per share, up from $4.35 billion, or 59 cents per share, last year. Caterpillar Q1 EPS rises 0.03 usd to record 1.23 usd, sales hit 10.016 bln usd
LONDON (Thomson Financial) - Caterpillar Inc reported record first-quarter EPS of 1.23 usd, up 0.03 usd from the first quarter of 2006, shrugging off weakness in the North American on-highway truck and construction sectors.
It said first-quarter revenue rose 624 mln usd or 7 pct to a record 10.016 bln usd from 9.392 bln usd in the first quarter of last year. H&R Block agrees to sell subprime unit
KANSAS CITY, Mo. (AP) - H&R Block Inc. said Friday it agreed to sell Option One Mortgage Corp. to an affiliate of private equity firm Cerberus Capital Management LP, ending a monthslong search for a buyer of the beleaguered subprime lender.
Cerberus, which created a company called OOMC Acquisition Corp. to execute the purchase, agreed to pay $300 million less than the value of Option One's tangible net assets, which was $1.27 billion at the end of January. The value will be calculated on the date of closing, which is expected to be Oct. 31. Unicredito declines to comment on reported merger talks with SocGen
MILAN (Thomson Financial) - Unicredito Italiano SpA declined to comment on media reports that the Italian bank is in merger talks with its French peer Societe Generale.
A company spokeswoman however added that the bank does not plan any board meeting before May 9, when directors are due to examine its first-quarter results. SAP Q1 opg rises 6 pct on strong sales in Americas and Asia Pacific region
WALLDORF, Germany (Thomson Financial) - SAP AG said first quarter operating profit rose 6 pct to 433 mln eur from 409 mln thanks to strong sales in the Americas and Asia Pacific regions
The figure was below the 442 mln eur consensus of analysts forecasts. Xerox Q1 EPS 0.24 usd vs 0.20, up 20 pct; revenue up 4 pct to 3.8 bln usd
LONDON (Thomson Financial) - Xerox Corp reported first-quarter earnings per share of 0.24 usd, an increase of 20 pct on EPS of 0.20 usd in the first quarter of 2006 and above both analyst expectations and the company's own guidance.
Analysts polled by Thomson Financial had predicted EPS of 0.20 usd for the most recent quarter, while the company had forecast EPS in a range of 0.18-0.20 usd. Mcdonald's Q1 EPS 0.62 usd vs 0.49; sales up 11 pct to 5.464 bln usd
LONDON (Thomson Financial) - McDonald's Corp reported diluted earnings per share of 0.62 usd for the first quarter of 2007, in line with its earlier guidance.
It said first-quarter EPS rose 38 pct from 0.49 usd in the first quarter of last year. WPP Q1 like-for-like revenues up over 4 pct
LONDON (Thomson Financial) - WPP Group PLC, the UK advertising and marketing services firm, said like-for-like revenues grew over 4 pct in the first quarter, with strong growth in Asia Pacific, Latin America, Africa and the Middle East, continuing to compensate for weaker growth in the UK and US.
The world's second-largest advertising and marketing group, home to Young & Rubicam and J Walter Thompson agencies, also said in a trading update that reported revenues were down 0.7 pct to 1.36 bln stg, due mainly to the weak dollar against the pound sterling. Wipro Q4 net up 39 pct, beats forecast; says strong rupee a concern
BANGALORE (Thomson Financial) - India's third-biggest software company Wipro Ltd beat estimates with a 39 pct rise in its fourth-quarter net profit boosted by higher fees and acquisitions, but said the rise in the Indian rupee is a concern.
Every 1 pct rise in the rupee is expected to hit margins by 35-40 basis points in fiscal 2008, though its impact in the quarter was offset by improved price realisation and better margins from acquisitions and the business process outsourcing division, chief financial officer Suresh Senapaty told reporters. Converium CEO says co in talks to find white knight
FRANKFURT (Thomson Financial) - Converium Holding AG is in talks to find a white knight bidder, averting a looming hostile takeover offer from French rival Scor SA, Handelsblatt reported, citing Converium's chief executive officer Inga Beale.
'We are in talks with other partners,' including private equity investors, Beale told the newspaper. 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.