Teachers group wins C$52 bln race for BCE

(Reuters) - It said that was a 40 percent premium over what it called the "undisturbed share price," or the price before BCE put itself up for sale. BCE shares closed at C$40.34 on the Toronto Stock Exchange on Friday.




"The all-cash transaction is valued at C$51.7 billion, including C$16.9 billion of debt, preferred equity and minority interests," BCE said, adding that it expected the deal to close in the first quarter of next year.


Read more at Reuters.com Mergers News

Independent News & Media says H1 revenue up 3 pct

(Reuters) - Irish newspaper publisher Independent News & Media said on Friday it expected first-half group revenue to be about 3 percent higher than a year earlier.

The company said in a trading statement that circulation revenue was expected to have risen 2 percent in the six months to the end of June while advertising revenue was set to come in 5 percent higher year on year.


Read more at Reuters Africa

Asian Currencies: Philippine Peso Posts Quarterly Gain on Overseas Funds

(Bloomberg) -- The Philippine peso had a fourth
quarterly gain on speculation workers abroad sent back more
remittances and overseas funds bought the nation's stocks.

The peso was the second-best performer of 10 of the most-
traded Asia currencies this quarter as the Philippine Stock
Exchange Index reached a record high. Money sent home by
Filipinos working abroad exceeded $1 billion for a 12th month in
April. The figures are issued with a lag and may rise in May and
June as funds are remitted for the start of the school year.


Read more at Bloomberg Currencies News

Everlast says Sports Direct raises offer

(Reuters) - Earlier, New York-based investment firm Hidary Group raised
its bid for the company to $31.25 a share from $26.50 following
Sports Direct's offer on Thursday.





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CME has room to boost its CBOT offer -- Bernstein

(Reuters) - "As a result, the CME could still increase its offer by
about $1.25 billion ," the report said.




CME, the largest U.S. futures exchange, has a clearing
arrangement with CBOT that runs through January 2009.


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Theravance says GlaxoSmithKline not to exercise call right

(Reuters) - The right was granted to GSK as part of a 2004 strategic alliance, the biopharmaceutical company said in a statement.






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US STOCKS-Wall Street slips on credit concerns

(Reuters) - NEW YORK, June 29 - U.S. stocks fell on Friday,
as banks and brokers retreated on concerns about the impact of
tightening credit on takeovers and the subprime mortgage
industry.




Early gains evaporated as oil rose to $71 a barrel and
investors booked profits before the quarter's end and the July
4th holiday week. That offset data pointing to moderating
inflation and economic growth.


Read more at Reuters.com Bonds News