Business Services Industry
Daily Mail, London, Market Report.
Knight Ridder/Tribune Business News, August, 2002
By Geoff Foster, Daily Mail, London Knight Ridder/Tribune Business News
Aug. 29--It has been touch and go, but Cazenove and Merrill Lynch have by all accounts pulled it off. Cookson's joint brokers have earned their hefty corporate fees by persuading investors holding more than 75 percent of the struggling electrical component's stock to take up their rights at 25 pence.
The UKpound 278 million issue closed early yesterday and the rump quickly placed u or promised u with other institutional clients.
Cookson, which desperately needs the cash to pay down its burgeoning UKpound 750 million debt, looked dead in the water last month when it slumped to a low of 19 pence. Caz & Co has pulled more than one rabbit out of the hat, but at a...
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