IN BRIEF (Page 16)
Bid backed
Privately owned Hedley Group, which has a stake in Australian retailer Coles Group Ltd has given its backing to Wesfarmers Ltd's A$19.7 billion ($16.08 billion) takeover bid for Coles.
Hedley Group, a property developer, said late on Sunday it agreed to vote its 17.9 million Coles shares in support of Perth-based Wesfarmers' proposed deal.
All-time high
Singapore's index rose 1.62 percent yesterday to set a new record close for the third day in a row, led by SingTel, after a strong US jobs report eased concerns over the health of the world's largest economy.
The Straits Times Index hit an all-time intraday high of 3,400.62, crossing the 3,400-level for the first time.
Decision day
The board of digital camera and medical equipment maker Pentax Corp will decide on its response to a tender offer from Hoya Corp at a meeting today, its president Fumio Urano (above) said yesterday.
Hoya said on Friday it was set to make a tender offer for Pentax instead of using a share swap, to appease shareholders unhappy about the merger ratio.
Back on track?
Japan's Isuzu Motors Ltd is considering resuming truck production in the United States after a five-year gap by building a plant in Alabama.
Isuzu has bought land in the US state for a truck assembly plant, the spokesman said.
Agencies
(China Daily 04/10/2007 page16)
