Cliveden backs acquisition bid by group including Bill Gates

Article Abstract:

Cliveden PLC is backing an offer to be purchased by consortium of US investors, called Destinations Europe, for $70.1 million after rival bidders dropped their offer. The consortium seeking to acquire the luxury hotels and leisure-club operator is 10% backed by Microsoft Corp. chairman Bill Gates, while Lowe Enterprises has 25% and LF Strategic Realty Investors with 65%. Goldman Sachs, which along with Westmont Development Inc. made a bid, is to have an offer that would top the agreed bid from the consortium. However, Cliveden said it was encouraging shareholders to support the offer by Destinations Europe.

Comment:

Backs offer to be purchased by consortium Destinations Europe for $70.1 million after rival bidders dropped their offer

Siemen's plan to sell facilties to Acer collapses

Article Abstract:

Siemens AG of Germany has announced a collapse of discussions concerning a possible sale of its computer production facilities to Acer Inc. The termination of negotiations, initiated in April 1998, dealt a blow to a restructuring of the personal-computer division of Siemens. Acer of Taiwan would have made personal computers under the Siemens brand under the agreement, which would also increased its capacity by 25% and enable reduction of production costs. Siemens' spokesperson said Acer tried to change the price and payment terms of the transaction due to financial crises in Asia and Russia.

Comment:

Sees collapse of discussions concerning a possible acquisition of computer production facilities from Siemens

Electronic Computer Manufacturing, Diversified Companies, Germany, Computers & Auxiliary Equip, Facilities & equipment, Siemens AG, Acer Inc.

Goldman may top Gates consortium in bid for Cliveden

Article Abstract:

Goldman Sachs and Co., a US-based investment banking company, is believed to have plans to launch a bid for Cliveden PLC, the UK-based luxury hotel group that received a takeover bid from Destination Europe USA, a consortium of US investors that include Microsoft Chairman Bill Gates. Sources familiar to the transaction noted that Goldman Sachs already approached Cliveden through its Whitehall real estate investment arm. It is also rumored that Goldman Sachs is likely to partner with a US hotel group in making its offer for the hotel group.

Comment:

Is believed to have plans to launch bid for Cliveden PLC, a UK-based luxury hotel group

Securities Dealers, Investment Banking and Securities Dealing, New York, Goldman Sachs and Co.