VENTURE CAPITAL POST

Canadian dairy company Saputo Inc was one step ahead of clinching the win to take over Warrnambool Cheese and Butter Factory Co Holdings Ltd, when the former's revised bid received the recommendation of the latter's board of directors.

The proposed takeover by Community Health Systems Inc of Health Management Associates Inc will proceed as planned after the latter's board of directors had given its approval.

Cooper had sought the jurisdiction of the Delaware Supreme Court to rule on the order by Delaware Chancery Court Judge Sam Glasscock III finding no fault on Apollo for the delayed merger.

The latest takeover bid was submitted by BNP Paribas SA for BGZ Bank in the Polish market that had seen mega million takeover deals in its banking industry.

In a letter to presiding judge Sam Glasscock III, Apollo Tyres lawyer sought the dismissal of the case filed against them by Cooper Tire & Rubber Co.

Elliot Management is holding out for a higher valuation of its shareholdings in Kabel Deutschland in the takeover bid by Vodafone Group Plc.

The European Union approved Aegean Airlines' takeover of Olympic Air.

A Reuters report said that the USD2.5 billion takeover proposal of Cooper Tire and Rubber Co by Apollo Tyres Ltd would be awaiting shareholder approval.

According to a Reuters report, a struggling Alitalia would be closing shop soon if it won't be getting the cash it needs to implement Alitalia CEO Gabriele Del Torchio's long-term plans.

According to sources who told the Wall Street Journal, family-run Wing Hang Bank Ltd may get takeover bids from Australia & New Zealand Banking Group Ltd and United Overseas Bank Ltd of Singapore.

Analysts said Rockwood Holdings Inc had poised itself to be an attractive takeover target as it had sold USD4 billion of its businesses this year.

Analysts thought that Tokyo Electron Ltd's takeover was unusual move in an industry norm where local companies were rarely open to mergers or takeovers by their foreign rivals.

Safeway, the grocery chain, received information as to the significant accumulation of shares of stock by an unnamed individual, requiring the company to protect itself from a hostile takeover.

Analysts predicted that Multimedia tracker Rentrak Corp. would be a potential target among companies who require ratings analysis on consumer digital content habits.

KPN's negotiations with America Movil regarding the EUR7.2 billion or USD9.58 million bid remained to be over.