Would sell the shares at a maximum of Dollars 21 each, putting proceeds from In a filing with the Securities and Exchange Commission, the company said it Was unable to raise the Dollars 1.2bn target sale price. The Prudential abandoned its pursuit of a private sale in August after it An over-allotment provisionĪllows for the sale of a further 3m shares. Public offering, 4m of them outside the US. Unit, said it would sell 20m of Prudential Reinsurance's 50m shares in a The company, which earlier this year pursued a private sale of the whole Reinsurance arm in a partial flotation that would value the unit at more THE PRUDENTIAL, the US insurer, plans to retain a majority stake in its International Company News: US Prudential in reinsurance Medco Containment Services Medical Marketing Group Merck and Co Inc US United States of America P5961 Catalog and Mail-Order Houses P8732 Commercial Nonphysical Research P2834 Pharmaceutical Preparations COMP Mergers & acquisitions P5961 P8732 P2834 The Financial Times London 191 The merger is subject to approval by shareholders and the Delaware court,Īnd is also contingent on completion of the Medco-Merck merger. Litigation 'based upon, among other things, the terms of the merger The understanding, the companies said, calls for plaintiffs to settle their Medical Marketing shareholder group suing Medco in Delaware Chancery CourtĪfter an initial bid of Dollars 25 per share for Medical Marketing stock, Health care group, also said the proposal included an agreement with a Medical Marketing and Medco, joined in the announcement by Merck, the US MEDCO Containment Services, the US medical services group, is to buy theĤ5.8 per cent of Medical Marketing Group it does not already hold at DollarsĢ7.25 per share, Reuter reports. International Company News: Medco buys rest of Medical International Group, said the company's earlier experiences had given itĬonfidence in the future of ventures formed with knowledgeable localĬapital Cities/ABC Inc Scandinavian Broadcasting System US United States of America LU Luxembourg, EC P4833 Television Broadcasting Stations P4841 Cable and Other Pay Television Services COMP Shareholding CMMT Comment & Analysis P4833 P4841 The Financial Times London 279 Mr Herbert Granath, president of Capital Cities' newly-formed ABC Cable and Producer, Molinaire, a UK production company, and Tele-Munchen, a German They see opportunities for growth in a fast-deregulating market.Ĭapital Cities/ABC has already bought stakes in several European mediaĬompanies, including Hamster, a French programme maker, Tesauro, a Spanish US broadcasters have been keen to expand their interests in Europe because Television stations Kanal 2 in Denmark, an over-the-air television station Īnd TV Fynboen in Odense, serving Denmark's third largest city. They are TV Norge in Norway and TV5 in Sweden, both satellite-to-cable SBS owns and operates four commercial television stations in Scandinavia. SBS's shares, which are traded in the US on the Nasdaq market, rose Dollars Right to increase its stake to 25 per cent by buying another 500,000 shares Scandinavian Broadcasting System for about Dollars 40m and will have the It has agreed to buy 21 per cent of the shares in the Luxembourg-based Is to make further inroads into Europe by taking a stake in a Scandinavian Processed by FT 931117 By RICHARD TOMKINSĬAPITAL Cities/ABC, the US media group that owns the ABC television network, International Company News: Capital Cities/ABC expands in
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