General Dynamics mulls bid for Alvis: US General Dynamics Corp is considering a counter-bid for Alvis Plc in an effort to head off Alvis's proposed partial merger with GKN Plc, according to media reports. The reports said that General Dynamics has appointed city advisers and discussed the implications of a cash counter-bid worth at least 175 million pounds ($295 million). Last Tuesday British engineering group GKN announced a 78-million pounds deal to fold its armoured vehicles business into specialist manufacturer Alvis Plc, taking a 29.9-per cent stake in Alvis in return. The deal failed to impress analysts who have long been hoping GKN would dispose of armoured vehicles altogether.Barclays arm's Japan investment trust: The investment arm of British banking group Barclays Plc announced on Monday it had launched a unit trust aimed at Japanese corporate and institutional investors. The Short-Term Bond Active Fund is the first fund to be established by Barclays Investment Trust and targeted atJapanese investors, it said. The fund invests in both yen- and foreign currency-denominated government and corporate bonds as well currency options and derivatives.
Kingfisher makes rival bid for VCI: British retail group Kingfisher Plc sparked a battle for video publisher VCI Plc on Monday with an offer at 120 pence per share, trumping Scottish Media Group's existing 80 pence offer. Kingfisher, which announced it was considering a bid last week, said the offer valued VCI at around 46.8 million pounds, compared with Scottish Media's 31.2 million pound bid.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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