Nippon Sheet Glass/Pilkington: Frequent Speculation

Date: 7 January 2003
Source: Yahoo

Date: 7 January 2003

Nippon Sheet Glass Co. Ltd. (J.NSG) Monday denied a U.K. press report saying that it planned to bid for Pilkington PLC (U.

PIL), a spokesman for the Japanese company said Monday.

The spokesman, contacted in Tokyo, said "there is no truth to the report," published in The Sunday Times of London, which said a planned deal valued the U.K. company at GBP1 billion.

The newspaper also said Nippon Sheet Glass - Pilkington's largest shareholder with a 20.4% stake - had informally approached a Pilkington director last month with an offer of more than 80 pence a share.

Pilkington officials weren't immediately available for comment on the report.

But analysts were skeptical that a deal was in the works, with several doubting that Nippon Sheet had the resources to bid at such a premium to the current share price.

One analyst said Pilkington is often the subject of takeover talk and that the idea of a takeover by Nippon Glass has been floated previously.

Pilkington shares were up 3.7% around 0950 GMT Monday at 62.75 pence.

600450 Nippon Sheet Glass/Pilkington: Frequent Speculation glassonweb.com

See more news about:

Others also read

MORE...

Southwall Technologies Secures New Bank Loan and Equity Financing Agreement Led by Needham & Company
Southwall Technologies Inc. (Nasdaq:SWTX), a global developer, manufacturer and marketer of thin-film coatings for the electronic display, automotive glass and architectural markets, today announced that on Dec. 18, 2003, it secured an agreement for a new bank loan guarantee and equity financing package of up to $7.5 million from Needham & Company, Inc., its affiliates and Dolphin Asset Management.
Emirates Glass wins major deals
Local quality glass producer Emirates Glass Limited has won contracts to supply 68,000 square metres of its high quality EmiCool glass to five major projects in Dubai.
Micro-Tek Canada, Inc. and Co-Ventures in Glass Containers, Ltd.
Co-Ventures in Glass Containers (CVIGC, Ltd.) of Tampa, Florida, USA and Micro-Tek Canada, Inc. Of Toronto, Canada are excited to announce the beginning of a long term joint venture to combine their extensive experiences and resources to offer the Glass Container Industry globally a best value alternative for all their outsourcing needs in manufacturing, operations and technical assistance agreements, specifically targeted to the smaller manufacturers who have found the larger service companies to be cost and profit prohibitive.The principals of the two companies have found a global need for smaller glass companies who require excellent technical resources to properly compete within the industry without the high costs of employing their own staffs or outsourcing their requirements to the larger service companies whose own operating costs and overhead are substantial.
Autoglass maker dumps dumping charges
China's largest automobile glass maker Fuyao Glass Industry Group Co, Ltd, won its case against the dumping ruling of the US Department of Commerce (DOC).
History of Glass Wine Bottles
When did the wine industry start using glass bottles, and how did they settle on their current size of 750ml? For the answer to these questions, you have to go back in time - back thousands of years to when wine was first cultivated and enjoyed.
Praxair's Specialty Gases Plant Attains New ISO 9000 Standard
Praxair, Inc. (NYSE: PX) today announced that its subsidiary Praxair Canada Inc.'s specialty gases plant in Paris, Ontario, Canada, is one of Praxair's first specialty gases plants in North America to complete the upgrade to ISO 9001:2000, the latest ISO 9000 standard for quality.

Add new comment