A round-up of today's other stories in brief
Carlsberg set for campaign of acquisition
Carlsberg, the Danish brewer, yesterday signalled it was readying itself to make acquisitions after the foundation that controls it said it planned to change its charter.
The surprise move follows weeks of market speculation about a possible takeover bid for UK brewer Scottish & Newcastle, with which Carlsberg has a joint venture in Russia.
Although no bid for S&N has emerged, analysts believe that Carlsberg is preparing itself to respond in the event the UK brewer is formally approached.
Carlsberg said it had asked the Danish ministry of justice for approval to amend a section in its charter that states the Carlsberg Foundation (a charitable foundation that controls the brewer) must always hold at least 51 per cent of its shares. - (Financial Times service)
Waterford plans to raise €100m
Luxury goods group Waterford Wedgwood yesterday announced the details of its proposed €100 million fundraising, saying the price of each preference share will be €10. Under the terms of the offer, which was first announced earlier this month, each existing shareholder will be entitled to purchase one preference share for every 535 ordinary shares they already own. All preference shareholders will also receive warrants on the basis of 57 warrants for every preference share subscribed.
In a statement to the stock exchange yesterday, Waterford said it would be sending details of the offer and placing to shareholders next week and that it had called an extraordinary general meeting for May 24th to enable shareholders to approve the proposal. It is also seeking approval to conduct a similar exercise at another point in the future.
Kerry in 200,000 share buy-back
Food group Kerry yesterday announced the successful buy-back of 200,000 shares.
The highest price paid for the shares, which will now be cancelled, was €21.90. Yesterday the shares closed at €22.25.
Call for social responsibility
The Institute for Certified Public Accountants (CPA) in Ireland has called on the corporate community to "step up" its commitment to social and environmental responsibility.
Addressing the CPA annual business lecture on Thursday, CPA president Brendan Allen said corporate responsibilities extend beyond annual charitable donations.
Corporate responsibility is an issue for all businesses, rather than just multinationals and large financial institutions, Mr Allen said.
"Social and environmental considerations must be included alongside the financial bottom line analysis in every organisation."
Dundrum centre wins award
Dundrum Town Centre in south Co Dublin has been named the 2007 European Shopping Centre of the Year by the International Council of Shopping Centres (ICSC). The shopping centre has now been automatically shortlisted for the world award, which will be announced in Arizona in August.
First Active branches out
First Active is to expand its retail network, with seven new stores planned for 2007. The first new store has just opened in Ashbourne, Co Meath. Other locations will include Oranmore, Co Galway, and Ardkeen, Co Waterford.
