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Carphone Warehouse and Dixons Retail extend merger talks - UPDATE

Mon, 24th Mar 2014 11:06

Carphone Warehouse and Dixons Retail have won extra time to thrash out a potential merger, but speculation has emerged that Carphone's rival Phones4u may make a counter-bid.Mobile phone retailer Carphone and Dixons, which owns electrical and computer retailers Currys and PC World, have asked Britain's Takeover Panel to extend a deadline for making an offer from end of business on Monday to 17:00 on May 19th.A joint statement from the two companies said: "Since the announcement of February 24th 2014 was made, when discussions were at a very preliminary stage, both parties have agreed that they require more time to evaluate a potential merger of the two businesses."However, Britain's Sky News has reported that Phones 4u, which has a deal with Dixons to sell mobile phones in 160 of its Currys and PC World shops, has approached Dixons about an alternative merger deal.Entrepreneur John Caudwell launched Phones4u in 1996, but private equity firm BC Partners bought it in April 2011.Dixons and Carphone Warehouse announced last month they were in talks that could lead to a merger, although it has not yet been determined whether the deal would be a 50/50 merger or a takeover by one company of the other.Shares in Carphone fell 17.2p or 5.1% to 322.1p by 15:37 in London while Dixons' shares pared earlier losses to rise 0.3p to 50.2p.PW
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4 Oct 2013 10:52

UK WINNERS & LOSERS: Carpetright Slips As Tate & Lyle Leads Blue-Chip Gainers

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4 Oct 2013 09:12

BROKER RATING CHANGES: Investec Raises Barclays To Buy

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2 Oct 2013 14:01

DIRECTOR DEALINGS: Dixons Retail UKI Chief Exercises 12.1K Share Options

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27 Sep 2013 06:27

Dixons Retail Enters Deal For Pixmania Sale To Mutares

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19 Sep 2013 08:20

Thursday broker round-up UPDATE

ASOS: Canaccord Genuity increases target price from 3400p to 6200p and upgrades to buy. Associated British Foods: Jefferies raises target price from 1650p to 1750p and retains a hold recommendation. Barclays: Alphavalue upgrades from add to buy with a target price of 344.20p. BHP Billiton: Nomura

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13 Sep 2013 17:40

Dixons seeks "Darty style" deal for its Italian problem

By James Davey BLUEWATER, England, Sept 13 (Reuters) - Dixons Retail , Europe's second-biggest electrical goods retailer, said on Friday it wanted to merge its loss-making UniEuro business in Italy in a deal similar in structure to one completed by rival Darty in March. Darty, Europe'

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9 Sep 2013 10:42

Monday broker round-up UPDATE

Associated British Foods: Panmure Gordon cuts target price from 2100p to 2075p, while leaving its buy recommendation unchanged. Investec places its target price (prev.: 1930p) under review keeping a hold recommendation. Aviva: Morgan Stanley increases target price from 403p to 445p and maintains an

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6 Sep 2013 11:25

Broker tips: Diageo, WPP, Dixons

Citigroup has upgraded its rating for Guinness and Smirnoff owner Diageo from 'neutral' to 'buy' after a slight pull-back in the shares over the last month. Citi said that the stock's current valuation "doesn't reflect the attractions of the investment case: (1) resilient growth in the current weak

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6 Sep 2013 09:16

Broker snap: Dixons core businesses undervalued, says Nomura

Nomura has maintained its 'buy' rating and 60p target price for electrical retailer Dixons, saying that the company's core businesses are undervalued by the market. Alongside its first-quarter results, Dixons announced on Thursday that it was disposing of its Pixmania division and its Turkish arm t

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6 Sep 2013 08:01

Friday broker round-up UPDATE

Antofagasta: Canaccord Genuity lowers target price from 1035p to 1020p, while leaving its buy recommendation unchanged. Ashmore Group: Canaccord Genuity downgrades from buy to hold with a target price of 380p. Associated British Foods: Societe Generale upgrades to hold with a target price of 1900p

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5 Sep 2013 15:53

FTSE 250 movers: ICAP leaps on Morgan Stanley comments

Shares in broker ICAP leapt after comments from Morgan Stanley, which predicted the company is set to benefit from growing revenues and improved cost savings, and upgraded their rating on the stock to "overweight" from "underweight". Electronics specialist Dixons Retail was a strong riser on news

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5 Sep 2013 11:27

London midday: Stocks trim gains, BoE holds rates

After a strong start for UK stocks, the FTSE 100 pared gains by lunchtime as nervousness set in ahead of a number of risk events that have the potential to spark some volatile moves on financial markets. Risk appetite was also scaled back ahead of the G20 meeting which begins in St Petersburg today

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5 Sep 2013 08:13

London open: Stocks surge ahead of BoE, ECB meetings

The FTSE 100 jumped strongly in early trading on Thursday as investor risk appetite increased ahead of policy decisions from the Bank of England (BoE) and the European Central Bank (ECB) later on. The Bank of Japan meeting overnight was "a bit of a non-event", according to Market Analyst Craig Erla

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5 Sep 2013 08:03

Thursday broker round-up UPDATE

AMEC: Nomura reduces target price from 1300p to 1230p, while reiterating its buy recommendation. Antofagasta: Exane cuts target price from 1200p to 1100p maintaining an outperform rating. Ashtead Group: JP Morgan shifts target price from 729p to 734p and keeps a neutral rating. Associated British

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5 Sep 2013 07:53

Dixons to dispose of Electroworld operations

Electrical retailer Dixons has signed a deal sell its Turkey-based ElectroWorld operations to Bimeks, an electrical specialist. Dixons will receive in the region of £2m over a two-year period for the business, with the transaction expected to complete by the end of 2013. Sebastian James, Dixons

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