French Utility to Raise Stakes in Two Pay-TV Companies
Date: 23 July 1999
By Alan Cowell
Alan Cowell
Vivendi SA, French utilities giant, agrees to pay about $2.7 billion in cash and stock to increase its holdings in pay-TV stations Canal Plus SA of France and B Sky B of Britain; surprise move heightens speculation that Vivendi is out to push two companies into merger; such an idea would likely to face opposition from Rupert Murdoch, chairman of News Corp, which owns 40 percent of B Sky B; Vivendi raises its stake in B Sky B to 24.5 percent from 17 percent while increasing its holding in Canal Plus to 49 percent from 34 percent; Vivendi purchases indirect stakes in B Sky B held by Pearson PLC and Granada Group PLC; if two pay-TV companies merged, Vivendi would hold 30 percent of combined entity, leaving Murdoch with 25 percent; Vivendi acquires Cie Financiere Richemont AG's 15 percent stake in Canal Plus for $1.4 billion in stock (M)
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CAREMATRIX TO CONSIDER BECOMING A PRIVATE COMPANY
Date: 23 July 1999
By Bloomberg News
Bloomberg News
Management of Carematrix Corp, operator of retirement communities, is considering taking company private (S)
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FLORIDA COMPANY IS SUSPENDING SALES OF TIMBERLANDS
Date: 23 July 1999
By Bloomberg News
Bloomberg News
St Joe Co, Florida's largest private landowner, says it will suspend sales of its timberlands until market improves and it evaluates new markets; company, which announced in March that it would sell about 800,000 acres of northwest Florida timberland, says market conditions have weakened since then because of mill closings, low pulp prices and competition from other land sellers (S)
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INTELLIQUEST AGREES TO SELL DIRECT-MARKETING DIVISION
Date: 23 July 1999
By Bloomberg News
Bloomberg News
Intelliquest Information Group Inc., a technology market-research company, agreed yesterday to sell its IQ2.net direct-marketing division to Naviant Technology Solutions for $46.5 million in cash. IQ2.net owns a data base of Internet-user households and provides related marketing services. Intelliquest, based in Austin, Tex., will also enter a partnership with Naviant, a closely held technology consulting company in Newtown Square, Pa., to use the combined Naviant-IQ2.net data base for its Internet research. Intelliquest said it planned to focus on its main research and growing Internet businesses.
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RELIASTAR IS ACQUIRING PILGRIM CAPITAL FOR $258 MILLION
Date: 23 July 1999
By Bloomberg News
Bloomberg News
Reliastar Financial Corp will acquire Pilgrim Capital Corp for $258 million in stock and cash (S)
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KAISER PROVIDES DETAILS OF DEPARTURE FROM NORTHEAST
Date: 23 July 1999
By Bloomberg News
Bloomberg News
Kaiser Permanente announces details of its planned departure from Northeastern US; Kaiser will shut down unprofitable health plans in Massachusetts and Vermont and sell its money-losing plans in New York and Connecticut; agrees to sell its New York business to Capital District Physicians' Health Plan and its Connecticut health maintenance organization to Connecticare Inc; financial terms undisclosed (S)
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IBP, BEEF PROCESSOR, TO PURCHASE PORK PLANTS
Date: 24 July 1999
By Bloomberg News
Bloomberg News
IBP Inc wins approval from US bankruptcy judge to buy pork plants from Thorn Apple Valley Inc for $115 million in cash and debt and assumption of industrial revenue bonds in Arkansas (S)
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MAGNETEK BUYS CLOSELY HELD EMS GROUP OF COMPANIES
Date: 24 July 1999
By Bloomberg News
Bloomberg News
Magnetek Inc purchases closely held EMS group of companies; terms are not disclosed (S)
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CAROLINA POWER AND LIGHT MAY SELL ITS INTERNET UNIT
Date: 24 July 1999
By Bloomberg News
Bloomberg News
Carolina Power and Light Co considers selling Interpath Communications Inc, Internet unit of newly acquired North Carolina Natural Gas Co, in order to focus on energy sales (S)
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South Korea's Market Declines 7.34%
Date: 24 July 1999
By Bloomberg News
Bloomberg News
South Korea's benchmark Kospi stock index drops 71.70 points, to 904.96, record one-day loss, as interest rates continue to surge amid fallout from Daewoo Group's debt crisis (S)
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