IFLR Search

$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

Finland sells $1.4 billion stake in Sonera

The Helsinki office of White & Case is advising the Republic of Finland and Sonera Group on the sale of the government’s 21.9% stake in Sonera. The transaction is the largest equity offering to date by a Finnish issuer as a total value of over $1.4 billion.

January 01 1999

Deutsche Bank to buy Bankers Trust

Germany’s Deutsche Bank confirmed on November 23 that it was in the advanced stages of talks to buy US bank holding company Bankers Trust. The merger would create the world’s fifth-largest fund manager, with $500 billion-worth of assets.

January 01 1999

Telekomunikacja Polska IPO raises $930 million

The Polish government has completed the second stage of its sale of a 15% stake of Telekomunikacja Polska SA (TPSA), the state telecoms company.

January 01 1999

Stephenson Harwood in Brussels joint

UK law firm Stephenson Harwood is to join forces in Brussels with Italian firm De Berti Jacchia Perno & Associati and Paris firm Barbé Carpentier Thibault Groener. The firm’s association with France’s largest law firm, Fidal, part of the KPMG legal network, is over. In its new association Stephenson Harwood plans to look at joint business

January 01 1999

Guernsey firm reaps rewards of banking alliance

Guernsey law firm, Ferbrache & Co (soon to be renamed Ferbrache Morgan) plans to poach partners from City firms in a bid to compete with other firms on the island. The planned growth has resulted from Ferbrache & Co receiving more work as a result of its alliance with The Bank of East Asia.

January 01 1999

Universal approval

The European Commission has approved Bertelsmann's sale of its BMG Music Publishing business to Universal under the EC Merger Regulation.

December 30 1998

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