W.H. Smith to buy Internet bookshop for $15.4 million

Article Abstract:

W.H. Smith Group PLC, a British retailer, will acquire bookshop.co.uk PLC, for $15.4 million in cash or stock, in the hopes of carving a niche in the fast-rising segment of electronic bookselling. The transaction gives each bookshop.co.uk share a price of 265 pence, or $4.33, giving the company a value of 8.8 million pound sterling. Shareholders of the Internet bookshop also have the alternative to trade eight new W.H. Smith shares for every 17 shares of bookshop.co.uk. Aside from allowing W.H. Smith to enter the promising market of Internet bookselling, the acquisition also gives the company a chance to expand its electronic operations to music and videos.

Comment:

Will buy bookshop.co.uk PLC for $15.4 mil in cash or stock in hopes of carving a niche in the field of Internet bookselling

Retail Trade, Book Stores, Bookstores, WH Smith Group PLC, Bookshop.co.uk PLC

BT launches low-cost online service

Article Abstract:

British Telecommunications PLC (BT) formally launched BT Click+, its low-cost Internet access service to UK residents. The pay-as-you-go online service, which was launched almost simultaneously with BT's free e-mail service, requires no registration process, and monthly charges. However, the new online service charges users with one penny (1.7 cents) for every minute used, in addition to local call rates for the service. BT's new online service comes a week after telecommunications firm Energis PLC and consumer electronics chain Dixons Group PLC rolled out an entirely free Internet service dubbed as Freeserve.

Comment:

Formally launches BT Click+, its low-cost Internet access service, to UK residents

Services introduction, British Telecommunications PLC

Williams confirms it held Tyco talks, but says they ended

Article Abstract:

Williams PLC of the United Kingdom disclosed that its preliminary negotiations to be purchased by Tyco International Inc. of Hamilton, Bermuda, were ended. Williams, a manufacturer of fire-protection and security equipment, in effect confirmed rumors that there were talks regarding its possible purchase by Tyco International. Williams' stock prices also increased as a result of speculations in the market that the firm will be taken over by Tyco International.

Comment:

Ends preliminary negotiations to purchase Williams

Foreign operations, Other Communications Equipment Manufacturing, Intercom, Signal & Alarm Eqp, Bermuda, Fire Alarm Systems, Telecommunications equipment, Williams PLC, Tyco International Inc.