Word: agnellis
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Nestle outfought Italy's Agnelli family last week in a trans-European bidding battle over Source Perrier of France -- but the victory may get the Swiss food giant into, well, hot water. Suspecting a violation of European Community competition rules, the E.C. Mergers Task Force in Brussels has opened an investigation into the $2.7 billion takeover...
...specter of a national treasure in foreign hands haunted the French last week as Swiss food conglomerate Nestle unwrapped a hostile bid to take over Source Perrier, France's bottled-water king and a company once deemed financially invulnerable. It was no solace that Italy's Agnelli group, which is bent on diversifying beyond automaker Fiat, was competing with Nestle for the rights to sell the famous little green bottles all over the world...
...involves about a dozen European food and drink manufacturers, investment firms and banks, may be the opening gambit of a Continent-wide scramble in which European and American companies will grab for the biggest possible portions in the soon-to-be- restructured European trading community. Friends have quoted Giovanni Agnelli, elder statesman of the Turin clan, as saying, "I really won't be satisfied until I have a Nestle." As the stakes get higher in Europe's food industry, the ultimate question may become who eats whom first...
Lamont University Professor Amartya K. Sen will fly to Turin in March to receive the Fiat Group's Senator Giovanni Agnelli International Prize for the Ethical Dimension in Advanced Societies...
...strategically vital field of computers, no European firm is capable of competing with America's IBM or Japan's Fujitsu. "We know very well that European companies still are a long way away from having the critical mass necessary to stand up to the competition," concedes Gianni Agnelli, chairman of Italy's Fiat. Still, some success stories show that Western Europe has not been entirely eclipsed at the high-tech end of the market, where the battle for survival will be keenest. Airbus Industrie has emerged as Boeing's main competitor in the lucrative commercial aviation sector. While...