PRESS DIGEST – Financial Times – Aug 24

The Financial Times

HP LOCKS HORNS WITH DELL OVER DATA GROUP

Hewlett-Packard (HPQ.N: ) has sparked a bidding war with
long-time rival Dell (DELL.O: ) as it launched a $1.6 billion
counter-bid for data storage company 3Par (PAR.N: ).
http://www.ft.com/cms/s/2/0e77d746-aeb3-11df-9f31-00144feabdc0.html

HSBC GIVEN TWO WEEKS TO LAUNCH NEDBANK OFFER

HSBC (HSBA.L: ) has two weeks to make an offer for a
controlling stake in South Africa’s fourth-largest bank,
Nedbank, in a move that would help the UK bank benefit from ties
between Asia and Africa.
http://www.ft.com/cms/s/2/0e77d746-aeb3-11df-9f31-00144feabdc0.html

POTASH IN TALKS TO BLOCK BHP HOSTILE BID

Canada’s PotashCorp, the fertiliser producer, said it was
talking to a “large universe” of counter-bidders, but did not
name the suitors that could rival BHP’s (BHP.AX: ) offer of $139
per share.
http://www.ft.com/cms/s/0/bdb138d4-aea3-11df-9f31-00144feabdc0.html

BP LISTED 390 PROBLEMS ON GULF RIG

An internal BP (BP.L: ) audit has found 390 overdue
maintenance problems on the Deepwater Horizon rig that were
unresolved when the oil giant authorised its use on a well that
caused the Gulf of Mexico oil spill.
http://www.ft.com/cms/s/0/bdb138d4-aea3-11df-9f31-00144feabdc0.html
VIRGIN ATLANTIC LOOKS TO AVERT PILOTS’ STRIKE

Virgin Atlantic [VA.UL] could face the first strike in its
26-year history over a row with pilots over how many days off
they are entitled to each year.
http://www.ft.com/cms/s/0/779ed680-aee9-11df-8e45-00144feabdc0.html

TPG PLANS LAUNCH OF RENMINBI FUND

TPG [TPG.UL] has joined the queue of Western private equity
groups trying to raise renminbi-denominated funds from Chinese
investors that will enable them to carry out local currency
investments across the country.
(Summary compiled by Reuters)

PRESS DIGEST – Financial Times – Aug 24