| Syngenta delisting bids higher than floor price
The Syngenta delisting offer has received maximum bids at Rs 725 a share versus a floor price of about Rs 352 reports CNBC-TV18. Most bids were at Rs 725 per share as against the floor price of Rs 352. The bid price impacted by LIC, which holds 3.4%, has put in bid at Rs 720/share. The Swiss parent holds 84% and the delisting offer is for remaining 16%. Syngenta India offers crop protection solutions and offers high-value agrochemicals and seeds. For complete report watch video... .
Bidding War for Green Energy
The corporate headquarters of a state-regulated utility would seem to be an unlikely place for green tech entrepreneurs to strike gold. But as global warming worries grow and regulators require utilities to obtain more electricity from renewable sources, the industry is turning to startups to meet those mandates. And so the scene this week at PG&E (PCG) in San Francisco, where California's largest utility held a bidder's conference for companies wanting to make offers to provide between 80 and 800 megawatts of clean, green energy. Like the other investor-owned California utilities – Southern California Edison (EIX) and San Diego Gas & Electric (SRE) - PG&E must get 20 percent of its electricity from renewable sources by 2010. The quote rises to 30 percent by 2030. What's more, California regulators - laying the groundwork for the state's coming cap on greenhouse gas emissions - have barred the utilities from signing long-term contracts for the purchase of “dirty power" from out-of-state coal-fired plants.
Five bids for five franchises in Trans Tasman competition
The franchise make up for next year's trans Tasman netball competition looks to be a fait accompli, with Netball New Zealand receiving five expressions of interests for the five New Zealand places in the competition. The five likely franchises are based along similar lines to rugby's Super 14 competition. Netball North, Auckland-Waitakere and Counties Manukau have lodged a submission while Waikato and Bay of Plenty are set to make up another franchise. Wellington, Tasman, Eastern Netball and Western netball another, Canterbury the fourth and Southland and Otago the fifth franchise. Netball New Zealand chairman Don MacKinnon says he's heartened by the co-operation between the provinces to come up with the five bids and over the next two weeks Netball New Zealand will meet with the regions involved.
New-home builders try auctions, some online, as the market softens
Could something akin to eBay auctions be the next stop for new-home builders facing a glut of unsold properties? Inland builders in recent months have been cutting prices and throwing in extras such as free swimming pools to move their new houses in a slowing market. And recently, joining a national trend, some are finding success with public auctions, traditionally seen more as a way to sell artwork or rare antiques. Some of those builders are incorporating online elements into their auctions, giving Web shoppers a chance to bid in real time against the on-premises participants. .
PPR bidding for Puma
Luxury retailer Pinault-Printemps Redoute (PPR), owner of the Gucci, Yves Saint Laurent and Alexander McQueen fashion houses, has tabled a 3.6 billion offer for Puma. PPR already owns a 27% stake in PUMA, acquired from coffee millionaires Gunther and Daniela Herz. The fit between PUMA and PPR is thought to be good, with PPRs global retailing expertise offering a major springboard for PUMA, which in turn will help PPR fill a gap in its daytime fashion offer.
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