IFLR Search

Finland

Netting laws to be extended to payment systems

January 01 1999

Italy

Transparency requirements

January 01 1999

The DaimlerChrysler revolution

When DaimlerChrysler’s stock began to trade on the NYSE in mid-November, a quiet revolution began for foreign equity securities trading in the US. By Nicholas DS Brumm of Cravath, Swaine & Moore, New York*

January 01 1999

China

News on turnover taxation

January 01 1999

Market Focus - Canadian firms fight the lure of the US dollar

Growing opportunities abroad for young Canadian lawyers have forced domestic firms to reassess their strategy. Stephen Mulrenan reports

January 01 1999

$79 billion Exxon/Mobil merger

A stellar team of law firms has been assembled to represent Exxon and Mobil on their $79 billion merger, the largest in history. The merged company will be known as Exxon Mobil and, with a market value of $250 billion, will be the world’s biggest quoted energy company, ahead of Royal Dutch/Shell Group. The different firms are needed to cover regulatory and antitrust aspects, as well as corporate issues, for the US and the companies’ principal foreign subsidiaries.

January 01 1999

$70 billion Astra and Zeneca merger

On December 9 pharmaceutical groups Astra of Sweden and Zeneca of the UK announced that they are merging in a deal which will create Europe’s largest pharmaceutical group with a market capitalization of $70 billion. The deal is Europe’s largest ever merger.

January 01 1999

Advisers on the Channel Tunnel Rail Link Eurobond

The British government and London & Continental Railways (LCR) have announced the advisers for the planned financing of the first stage of the Channel Tunnel Rail Link (IFLR December 1998). HSBC and Warburg Dillon Read have been appointed as joint lead managers and arrangers on next year’s Eurobond offering, which is expected to raise £2.65 billion ($4.45 billion). Deputy Prime Minister John Prescott says: “These appointments are a significant milestone in the financing of this exciting project.”

January 01 1999

Tyco buys AMP for $11.3 billion

The industrial conglomerate Tyco has announced that it is to acquire AMP in an all-stock deal. The offer has rescued the Harrisburg, Pennsylvania-based electrical equipment manufacturer from the hostile takeover attempt by AlliedSignal announced in the summer. Tyco’s offer tops AlliedSignal’s cash bid by $1.6 billion.

January 01 1999

KPN and Qwest to form Europe’s biggest internet traffic network

Dutch communications utility KPN, and US communications carrier Qwest are joining forces to put $700 million-worth of fibreoptic links into a network that will provide internet links across Europe. The venture, named KPN Qwest, will start in January. The companies plan to spend $500m more on the project in the next two years.

January 01 1999

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