Financial news on February 27, 2006
Business and Financial news
Alcan , the Canadian aluminum producer, said it would sell its plastic bottle operations in North America to Ball Corp. for $180 million. Alcan said the the deal was part of its “continued strategy of focusing resources on markets where we enjoy scale and leadership positions.” Ball is already a major supplier of plastic bottles, […] Read more..
General Electric Co. has filed with regulators to sell its 18 percent stake of onetime subsidiary Genworth Financial in a secondary offering, and it should get a much higher price this time around. When the insurance provider first went public in May 2004, Genworth fetched $19.50 a share. Since then, the stock has climbed more […] Read more..
Suez SA and Gaz de France SA plan to merge in a one-for-one stock swap to create the world’s second-largest power and gas company, and fend off a hostile bid for Suez from Italy’s Enel SpA. Shares of Suez fell as much as 7 percent today. Its shares are down 4.4 percent, or 1.49 euros, […] Read more..
KT&G Corp. rejected a bid from U.S. investors Carl Icahn and Warren Lichtenstein that valued the tobacco maker at $10 billion, raising the prospect of the nation’s biggest hostile takeover battle. The last unwelcome bid by a foreign investor in South Korea, Asia’s third-largest economy, failed in 1997. Go to Article from Bloomberg News » […] Read more..
Rosneft President Sergei Bogdanchikov is courting investors to build the Russian state oil company’s $20 billion initial public stock offering into the main event on the world’s emerging markets this year. Go to Article from Reuters » Read more..
Texas Pacific Group, one of the world’s biggest private equity groups, plans a push into Asia amid signs that Newbridge Capital, its Asian affiliate, is too small to compete with global rivals for increasingly large deals. TPG wanted to deploy significantly more capital in Asia by using its new $10 billion to $12 billion buyout […] Read more..
Values are reported in US Dollars
|Walt Disney & Co.||DIS||28.00||28.49||27.98||28.38||14.9M|
|Johnson & Johnson||JNJ||57.96||58.55||57.83||57.91||7.01M|
|Procter & Gamble||PG||61.68||61.89||61.35||61.35||6.72M|
|International Business Machines||IBM||80.00||80.89||79.95||80.63||3.79M|
|Wells Fargo & Co.||WFC||64.56||64.94||64.35||64.49||3.06M|
Exchange Rates of February 27, 2006
|US Dollar||Japanese Yen||1 USD = 116.170 JPY||1 JPY = 0.009 USD|
|US Dollar||Canadian Dollar||1 USD = 1.141 CAD||1 CAD = 0.877 USD|
|US Dollar||Swiss Franc||1 USD = 1.323 CHF||1 CHF = 0.756 USD|
|US Dollar||Chinese Yuan||1 USD = 8.039 CNY||1 CNY = 0.124 USD|
|Euro||Japanese Yen||1 EUR = 137.610 JPY||1 JPY = 0.007 EUR|
|Euro||Pound Sterling||1 EUR = 0.681 GBP||1 GBP = 1.469 EUR|
|Euro||Australian Dollar||1 EUR = 1.606 AUD||1 AUD = 0.623 EUR|
|Euro||Canadian Dollar||1 EUR = 1.351 CAD||1 CAD = 0.740 EUR|
|Euro||Swiss Franc||1 EUR = 1.567 CHF||1 CHF = 0.638 EUR|
|Pound Sterling||Australian Dollar||1 GBP = 2.359 AUD||1 AUD = 0.424 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 1.984 CAD||1 CAD = 0.504 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 2.301 CHF||1 CHF = 0.435 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 0.841 CAD||1 CAD = 1.189 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 0.975 CHF||1 CHF = 1.026 AUD|