Wandle said to be consider buying rest of Plyus Gold for $2.97/share
BN 09/02 16:40 *VIVENDI WORKING ON COLLABORATION WITH TELECOM ITALIA: CEO
BN 09/02 16:40 *VIVENDI, TELECOM ITALIA EXECS HAVE BEGUN INFORMAL TALKS: CEO
BN 09/02 16:40 *VIVENDI, TELECOM ITALIA EXECS HAVE BEGUN INFORMAL TALKS: CEO
Vivendi Has Begun Informal Talks With Telecom Italia, CEO Says
2015-09-02 16:47:21.578 GMT
By Marie Mawad
(Bloomberg) -- Vivendi talking to Telecom Italia
executives, CEO Arnaud de Puyfontaine says in call with
analysts.
* Companies working on “different opportunities of
collaboration”
* NOTE: Music Boosts Vivendi’s Revenue as Bollore Prepares TV
Revamp Link
Link to Company News:{TIT IM <Equity> CN <GO>}
Link to Company News:{VIV FP <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the editor responsible for this story:
Marie Mawad at +33-1-5530-6290 or
mmawad1@bloomberg.net
2015-09-02 16:47:21.578 GMT
By Marie Mawad
(Bloomberg) -- Vivendi talking to Telecom Italia
executives, CEO Arnaud de Puyfontaine says in call with
analysts.
* Companies working on “different opportunities of
collaboration”
* NOTE: Music Boosts Vivendi’s Revenue as Bollore Prepares TV
Revamp Link
Link to Company News:{TIT IM <Equity> CN <GO>}
Link to Company News:{VIV FP <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the editor responsible for this story:
Marie Mawad at +33-1-5530-6290 or
mmawad1@bloomberg.net
Quiksilver Said to Seek Buyer as It Struggles to Stay Afloat (2)
2015-09-02 16:32:37.734 GMT
(Updates with Quiksilver’s history in 11th paragraph.)
By Lauren Coleman-Lochner, Jodi Xu Klein and Ed Hammond
(Bloomberg) -- Quiksilver Inc., the surfwear chain that has
lost more than three-quarters of its value this year, is looking
for a buyer that could help keep the company afloat, according
to people familiar with the matter.
Quiksilver has been holding discussions with potential
strategic bidders, said the people, who asked not to be
identified because the process isn’t public. The goal is a
management-led buyout, ideally outside of a bankruptcy, that
would let the company retain its stores, two of the people said.
The Huntington Beach, California-based chain replaced its
top executives in March after the company had to restate
earnings and projected disappointing sales. In June, Quiksilver
scrapped its annual earnings forecast, saying a rebound would
take longer than expected.
Quiksilver shares jumped as much as 32 percent on Wednesday
after Bloomberg News reported on the discussions, before
retreating later in the session. As of 11:53 a.m. in New York,
the stock traded at 42 cents, up less than 1 percent.
Because of its level of distress, a sale outside of a
bankruptcy could be difficult. Filing for Chapter 11 would mean
the retailer can abandon costly leases, making it easier for a
buyer to rein in costs.
Peter J. Solomon Co. is advising the company on a possible
sale, according to the people. Bloomberg News reported in July
that Quiksilver had hired the firm to seek additional financing.
FTI Consulting Inc. also is helping the retail chain with its
operations, the people said.
Authentic Brands
If a strategic buyer can’t be found, a company like
Authentic Brands Group, which owns Spyder Active Sports and
Tretorn, could be interested in the Quiksilver name, according
to one person.
Representatives for Quiksilver, Peter J. Solomon and FTI
declined to comment. Authentic Brands, based in New York, didn’t
respond to a request for comment.
Quiksilver’s woes have accumulated in recent months. It
received a warning from the New York Stock Exchange in July that
its low stock price put it at risk for being delisted.
Founded in 1969, Quiksilver sells gear like wet suits and
helmets, as well as clothing aimed at “mountain and ocean
lovers.” The company has about 700 locations, with more than
half its sales coming from outside the U.S.
Riding the Wave
Quiksilver rode the fashion trend toward surfer and
skateboarding styles in the 1990s and early 2000s, along with
names like Billabong International Ltd. and Pacific Sunwear of
California Inc. The company, which teamed up with athletes such
as surfer Kelly Slater and skater Tony Hawk, sponsored surfing
competitions around the world.
But a shift away from surfer fashion -- along with broader
pressures on the apparel industry -- took their toll. After a
period of heady expansion, Quiksilver struggled to compete with
fast-fashion retailers like H&M. Those brands lured away
Quiksilver’s teen customers with lower prices and on-trend
clothes, and the company lost its cachet with athletes.
The chain suffered a 13 percent decline in sales last year,
with its net loss widening to $309.4 million.
For Related News and Information:
Top news: TOP <GO>
Top consumer stories: RTOP <GO>
--With assistance from Lindsey Rupp in New York.
To contact the reporters on this story:
Lauren Coleman-Lochner in New York at +1-212-617-4673 or
llochner@bloomberg.net;
Jodi Xu Klein in New York at +1-212-617-1679 or
jxu205@bloomberg.net;
Ed Hammond in New York at +1-212-617-1963 or
ehammond12@bloomberg.net
To contact the editors responsible for this story:
Nick Turner at +1-212-617-6783 or
nturner7@bloomberg.net
Kevin Orland
2015-09-02 16:32:37.734 GMT
(Updates with Quiksilver’s history in 11th paragraph.)
By Lauren Coleman-Lochner, Jodi Xu Klein and Ed Hammond
(Bloomberg) -- Quiksilver Inc., the surfwear chain that has
lost more than three-quarters of its value this year, is looking
for a buyer that could help keep the company afloat, according
to people familiar with the matter.
Quiksilver has been holding discussions with potential
strategic bidders, said the people, who asked not to be
identified because the process isn’t public. The goal is a
management-led buyout, ideally outside of a bankruptcy, that
would let the company retain its stores, two of the people said.
The Huntington Beach, California-based chain replaced its
top executives in March after the company had to restate
earnings and projected disappointing sales. In June, Quiksilver
scrapped its annual earnings forecast, saying a rebound would
take longer than expected.
Quiksilver shares jumped as much as 32 percent on Wednesday
after Bloomberg News reported on the discussions, before
retreating later in the session. As of 11:53 a.m. in New York,
the stock traded at 42 cents, up less than 1 percent.
Because of its level of distress, a sale outside of a
bankruptcy could be difficult. Filing for Chapter 11 would mean
the retailer can abandon costly leases, making it easier for a
buyer to rein in costs.
Peter J. Solomon Co. is advising the company on a possible
sale, according to the people. Bloomberg News reported in July
that Quiksilver had hired the firm to seek additional financing.
FTI Consulting Inc. also is helping the retail chain with its
operations, the people said.
Authentic Brands
If a strategic buyer can’t be found, a company like
Authentic Brands Group, which owns Spyder Active Sports and
Tretorn, could be interested in the Quiksilver name, according
to one person.
Representatives for Quiksilver, Peter J. Solomon and FTI
declined to comment. Authentic Brands, based in New York, didn’t
respond to a request for comment.
Quiksilver’s woes have accumulated in recent months. It
received a warning from the New York Stock Exchange in July that
its low stock price put it at risk for being delisted.
Founded in 1969, Quiksilver sells gear like wet suits and
helmets, as well as clothing aimed at “mountain and ocean
lovers.” The company has about 700 locations, with more than
half its sales coming from outside the U.S.
Riding the Wave
Quiksilver rode the fashion trend toward surfer and
skateboarding styles in the 1990s and early 2000s, along with
names like Billabong International Ltd. and Pacific Sunwear of
California Inc. The company, which teamed up with athletes such
as surfer Kelly Slater and skater Tony Hawk, sponsored surfing
competitions around the world.
But a shift away from surfer fashion -- along with broader
pressures on the apparel industry -- took their toll. After a
period of heady expansion, Quiksilver struggled to compete with
fast-fashion retailers like H&M. Those brands lured away
Quiksilver’s teen customers with lower prices and on-trend
clothes, and the company lost its cachet with athletes.
The chain suffered a 13 percent decline in sales last year,
with its net loss widening to $309.4 million.
For Related News and Information:
Top news: TOP <GO>
Top consumer stories: RTOP <GO>
--With assistance from Lindsey Rupp in New York.
To contact the reporters on this story:
Lauren Coleman-Lochner in New York at +1-212-617-4673 or
llochner@bloomberg.net;
Jodi Xu Klein in New York at +1-212-617-1679 or
jxu205@bloomberg.net;
Ed Hammond in New York at +1-212-617-1963 or
ehammond12@bloomberg.net
To contact the editors responsible for this story:
Nick Turner at +1-212-617-6783 or
nturner7@bloomberg.net
Kevin Orland
BN 09/02 15:25 *ONTARIO TEACHERS SELLING ISS SHARES WITH UBS AS SOLE BOOKRUNNER
BFW 09/02 15:25 *ONTARIO TEACHERS SELLING ISS SHARES IN ABB: TERMS
BN 09/02 15:25 *ONTARIO TEACHERS SELLING 11 MLN SHARES, OR 5.9% STAKE IN ISS
BN 09/02 15:24 *ONTARIO TEACHERS SELLING ISS SHARES IN ABB: TERMS
BFW 09/02 15:25 *ONTARIO TEACHERS SELLING ISS SHARES IN ABB: TERMS
BN 09/02 15:25 *ONTARIO TEACHERS SELLING 11 MLN SHARES, OR 5.9% STAKE IN ISS
BN 09/02 15:24 *ONTARIO TEACHERS SELLING ISS SHARES IN ABB: TERMS
Ontario Teachers Selling 11m ISS Shares in Bookbuild: Terms
2015-09-02 15:32:34.415 GMT
By Ruth David
(Bloomberg) -- Pricing of accelerated bookbuild expected
tomorrow, will price with reference to today’s close, according
to terms obtained by Bloomberg.
* Offering is ~5.9% stake
* NOTE: Ontario Teachers’ Pension Plan Board holds 13.3%
stake, according to Bloomberg data
Link to Company News:{1885Z CN <Equity> CN <GO>}
Link to Company News:{ISS DC <Equity> CN <GO>}
Link to Company News:{UBSG VX <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the reporter on this story:
Ruth David in London at +44-20-3525-8095 or
rdavid9@bloomberg.net
To contact the editor responsible for this story:
Andrew Rummer at +44-20-3525-3722 or
arummer@bloomberg.net
2015-09-02 15:32:34.415 GMT
By Ruth David
(Bloomberg) -- Pricing of accelerated bookbuild expected
tomorrow, will price with reference to today’s close, according
to terms obtained by Bloomberg.
* Offering is ~5.9% stake
* NOTE: Ontario Teachers’ Pension Plan Board holds 13.3%
stake, according to Bloomberg data
Link to Company News:{1885Z CN <Equity> CN <GO>}
Link to Company News:{ISS DC <Equity> CN <GO>}
Link to Company News:{UBSG VX <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the reporter on this story:
Ruth David in London at +44-20-3525-8095 or
rdavid9@bloomberg.net
To contact the editor responsible for this story:
Andrew Rummer at +44-20-3525-3722 or
arummer@bloomberg.net
Hearing vague takeover chatter circulating - Rio Tinto rumored as a potential acquirer
International Paper - Hearing chatter IP has canceled out of an upcoming UBS conf
--> Rumor that IP could be interested in GPK US or SKG LN
--> GPK +1.62% SKG -0.16%
*BAXALTA SAID TO ABANDON TAKEOVER TALKS WITH DRUGMAKER ARIAD
Intrepid Potash: Cowen views mine suspension as negative for IPI shares and slightly positive for potash producing peers AGU, POT and MOS
Cowen notes that yesterday, after the close, IPI announced it received an imminent danger order which required the company's West Mine in New Mexico to shut down. The firm notes that this is IPI's largest mine and represents over 40% of production capacity. The firm is not surprised by maintenance issues given the age of IPI's mine operations and view the news as negative for IPI shares and slightly positive for potash producing peers AGU, POT and MOS.
--> No pre market indications for IPI for now
GoPro estimates trimmed at Stifel following AMBA guidance/commentary
Stifel notes that while anticipated in AMBA results (3Q revenue guide in line with consensus), Ambarella commentary around timing of wearable camera product launches strongly suggests that there is a low probability that an additional GoPro camera based on an Ambarella platform will launch before year-end. Considering both 1) the challenging anniversary of the sell-in of the HERO4 line in early 4Q a year ago and 2) the firm's impressions that the HERO+ LCD and HERO4 Session have been well received but aren't necessarily driving the category to new levels, they are taking a more conservative view on 4Q and 2016 estimates. Firm cuts FY4Q estimates from $767.2 mln and $1.04 to $710.1 mln and $0.92 (consensus of $728 mln and $0.94).
- GPRO shares are lower by 6% at 41.17 in the pre-market.