Trading Ideas

No Picture
Trading Ideas

Hudson’s Bay Slams ISS Report Advising Against Go-Private Bid

December 9, 2019 admin Comments Off on Hudson’s Bay Slams ISS Report Advising Against Go-Private Bid

(Bloomberg) — Hudson’s Bay Co. disparaged a shareholder advisory firm’s report that came out against Chairman Richard Baker’s plan to take the retailer private, calling the study “flawed” and reiterating a call to support the deal.Institutional Shareholder Services Inc. on Friday urged investors to vote against Baker and his partners’ plans to take the owner of Saks Fifth Avenue private for C$1.9 billion ($1.4 billion). In a statement Monday, HBC’s special committee defended its decision to reject a higher competing offer from one of Hudson’s Bay’s biggest shareholder.The Baker offer “is the only offer available to minority shareholders and provides …read more […]

No Picture
Trading Ideas

Nokia halts legal action against Daimler with mediation offer

December 9, 2019 admin Comments Off on Nokia halts legal action against Daimler with mediation offer

Finnish telecoms equipment maker Nokia has called a temporary halt to legal action against Daimler in the hope the German carmaker will be open to mediation in their dispute over technology licensing fees. Daimler, along with Bury Technologies, Continental , Valeo and Thales-owned Gemalto had complained to the European Commission this year about fees demanded by Nokia for patents crucial to car communications. Nokia’s case in pursuit of fees from Daimler has thrown a spotlight on the wider battle between tech companies and the car industry over royalties for technologies essential for navigation systems, …read more […]

No Picture
Trading Ideas

UPDATE 1-General Motors pulls out of Russian car assembly business with Avtovaz deal

December 9, 2019 admin Comments Off on UPDATE 1-General Motors pulls out of Russian car assembly business with Avtovaz deal

Russia’s biggest automaker Avtovaz said on Monday it would buy out General Motors from their joint venture producing vehicles in Russia under the Chevrolet brand, effectively ending GM’s presence in car assembling in the country. Russia’s car market was among Europe’s top performers before the imposition of western sanctions in 2014 which, coupled with falling oil prices, sharply weakened the rouble, increased the cost of buying a car and curbed Russians’ ability to buy new vehicles. On Monday, Avtovaz signed an agreement to buy GM’s 50% stake in the venture, which sees the two companies produce the Chevrolet …read more […]