takeover Speculation

Saks Shares Soar on Takeover Rumors

Saks shares have spiked on takeover speculation. Reports say a private equity consortium with U.S. and U.K. players is interested in buying the retailer and could offer some $1.7 billion for it.

SSL, Maker of Durex Condoms, OKs $3.9 Billion Takeover Bid

SSL International Plc, the company which makes Durex condoms as well as Scholl foot care products, said its board is recommending a 2.54 billion pound ($3.9 billion) takeover offer from Reckitt Benckiser PLC. Reckitt Benckiser said the offer represents a 33% premium over SSL%u2019s July 20 share price, according to The Associated Press. The bid values the company at 1,163 pence a share plus a final dividend for last year of eight pence.

Abu Dhabi Considering Investing in BP, Crown Prince Says

Sheikh Mohammed bin Zayed Al Nahyan, crown prince of Abu Dhabi, says the emirate is considering investing in BP Plc (BP), Bloomberg News reported "We are still thinking about it," the crown prince told Bloomberg News when asked about buying a stake in the oil giant. "We have been partners with BP for years."

BP's Hayward in Middle East; Investment Rumors Fly

Embattled BP CEO Tony Hayward traveled to Abu Dhabi to meet business partners, with rumors flying that the company is seeking to raise funds to help the company pay for the clean up operation in the Gulf of Mexico. Hayward arrived in the Emirati capital on Tuesday and plans to stay "a couple of days", company spokesman Andrew Gowers told The Associated Press. Gowers declined to comment on whether or not Hayward would be meeting with investment funds.