GDF-Suez merger 'a strategic goal'

Chirac wants to push ahead despite doubts over the future of the tie-up.

    Pinault has until January 9 to present
    an offer for Suez [AP]
    Merger plan
    The government has repeatedly denied a French magazine report that Chirac had agreed to support an offer by Pinault, whose family controls the retail and luxury group Pinault Printemps-Redoute.
    France's Financial Markets Authority said its regulatory panel will meet on January 9 to set a deadline by which Pinault must either present an offer for Suez or refrain from bidding for a further six months, as required by French takeover law.
    Pinault's interest in Suez has cast further doubt on GDF's acquisition of the company, weeks after the French constitutional council effectively postponed the tie-up by seven months by ruling that the government could not reduce its stake in GDF to below 50 per cent before July 1.
    Under the merger plan, announced by the French government last February, GDF would acquire Suez in a one-for-one stock swap that currently values the utilities company at $60.4bn - including a $1.32 special cash dividend to Suez holders if the deal goes through.

    SOURCE: Agencies


    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    Heron Gate mass eviction: 'We never expected this in Canada'

    Hundreds face mass eviction in Canada's capital

    About 150 homes in one of Ottawa's most diverse and affordable communities are expected to be torn down in coming months

    I remember the day … I designed the Nigerian flag

    I remember the day … I designed the Nigerian flag

    In 1959, a year before Nigeria's independence, a 23-year-old student helped colour the country's identity.