AMP rejects Allied Signal's takeover bid of $10 billion

Article Abstract:

AMP Inc. of Harrisburg, PA, a leading maker of electronics equipment, has refused Morristown, NJ-based Allied Signal Inc.'s $10 billion offer for the company. The company rejected the offer because it was too low. Allied Signal, which makes aerospace and automotive products, said that it will try to take over AMP by appealing to shareholders and bringing the case to court. The company has also launched "poison pill" defenses against hostile bids and promised to eliminate divisions, close plants and cut its work force to become more profitable.

Comment:

Has been rejected by AMP on its $10 billion offer

New Jersey, Pennsylvania

Still feeding an Internet frenzy; the gains are less tasty, but financiers are keeping the investors ravenous

Article Abstract:

The astounding gains in market capitalization that have occurred as investors bid up the stocks of Internet companies are slowing down. Investors are using financial analysis to differentiate between new Internet companies that justify high stock prices and those which are merely trying to capitalize on the trend without having a legitimate business plan. Investment bankers, who have decried certain IPOs as being based merely on greed, are, at the same time, rushing to bring new IPOs to the market before the investor demand drops further.

On-Line Information Services, Videotex & Teletext, Telegraph & other communications, Security brokers and dealers, Securities Brokerage, Economic aspects, Internet, Stockbrokers, Forecasts and trends, Online services, Internet services, Influence, Securities industry, Market trend/market analysis, Securities, Going public (Securities), Initial public offerings, Electronic trading (Securities), Online securities trading

Allied Signal in $9.8 billion hostile bid in electronics

Article Abstract:

AMP Inc., an electronics connectors maker, has not responded to Allied Signals' $9.8 billion unsolicited bid. Industry analysts said that AMP, which recently announced the closure of a Pennsylvania factory, would be an appropriate acquisition for Allied Signals, a maker of aerospace and automotive products. The hostile takeover offer was referred to AMP's board for consideration after Allied made several overtures to AMP management. Allied, in a defensive move, filed a court petition to keep to keep its bid alive.

Comment:

Has offered a $9.8 bil unsolicited bid to AMP Inc.

Company Planning/Goals