Agreed Bid

Agreed Bid

A bid by a company to buy a publicly traded company with the full knowledge and consent of the target company's board of directors. That is, an agreed bid is a bid for a friendly takeover. In an agreed bid, the acquiring company generally offers a premium to the current stock price for each share.
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The agreed bid is the latest mega-deal involving billionaire Dhanin Chearavanont, whose sprawling empire includes a string of convenience stores operated under the 7-Eleven brand.
A deal is set to create a national pay TV major with over 2.3m customers.Country: , AustraliaSector: MediaTarget: Austar United Communications LimitedBuyer: FoxtelVendor: Liberty Global IncDeal size in USD: 2bnType: Corporate acquisitionStatus: TalksComment: Austar denies agreed bid price.
On July 19 Tesco extended its pounds 15-a-share, pounds 228 million including debt, agreed bid to next Wednesday, having only gained the support of shareholders representing 32.2 per cent of the garden centre operator's equity.
Premier - best known for Ambrosia creamed rice and Branston pickle - has just announced a pounds 2bn agreed bid for Hovis group RHM, which should give the group plenty of potential.
The group fell 11.5p to 308.5p, a fall of almost 4%, while Morrisons was off 3.25p at 164.75p, taking the value of its agreed bid for Safeway down to pounds 2.3bn.
Safeway has effectively ruled out an imminent agreed bid after it recently denied that it was in talks with another group.
But spokesman Steve Dibb said: "Unfortun-ately, the people behind the agreed bid have decided to withdraw.
Endemol is in the process of being taken over by Spanish conglom Telefonica, but an Endemol spokesman said the agreed bid, if it goes through, will not change the acquisition strategy of Endemol.
The figure - contained in the offer document accompanying Stanley's pounds 86.4m agreed bid for the casino operator Capital Corporation - is 3.8 per cent down on last year's equivalent, pounds 23.9m.
Fenner yesterday said it planned to raise pounds 54.1 million in a placing and open offer at 127 pence per share to fund the agreed bid for Wellington, which is based in Middlesex.
SHELL'S surprise pounds 3.5billion agreed bid for Enterprise Oil sent shares in rival energy firms rising yesterday on hopes that the move could trigger other takeovers in the industry.
The Savvis bid trumps an earlier agreed bid by Gores Technology Group after a two-day auction in New York.