Abu Dhabi’s Advanced Technology Investment Co (ATIC ) is offering $2.68 a share in cash to buy Chartered Semiconductor, valuing the firm at just over $2.6 billion.
ATIC which is owned by Abu Dhabi sovereign wealth fund paid US$2.1 billion for 55.6% of a joint venture with Advanced Micro Devices (AMD), creating Globalfoundries.
Advanced Technology Investment Co., owned by the government of Abu Dhabi, plans to acquire Singapore-based Chartered Semiconductor Manufacturing Ltd. for US$1.8 billion ($2.6 billion) in cash.
ATIC will pay US$1.86 ($2.68) a share for Chartered, a 14% premium to the company’s 30 trading-day volume weighted average price, ATIC said in a statement posted online.
Chartered makes chips used in Microsoft Corp.’s Xbox 360 game console and raised US$300 million in April by selling shares to existing investors. The company has eliminated workers and cut overtime to reduce costs.
Tickets for December’s FIFA Club World Cup UAE football tournament will reportedly be available from as little as Dh10. Arabian Business has quoted organisers confirming that ticket prices would range from Dh10 to Category 4 tickets to Dh300 for Category 1 tickets for the Abu Dhabi events.
Darkness has fallen and the staff have been sent home, but out on Saadiyat Island Gary Player is prowling his signature golf course as vigorously as he used to prowl the fairways of Augusta National. It is April of this year and the South African has flown into Abu Dhabi to assess the progress
A baby crocodile caused panic on a flight from Abu Dhabi to Cairo when it escaped from a passenger’s luggage, Egyptian airport officials say.
Passengers screamed as the crocodile, measuring about 30cm (1ft), made its way down the cabin before eventually being captured by crew members.
All passengers on the Egypt Air flight were questioned about the reptile, but none admitted taking it on board.
The crocodile was handed to local authorities when the plane landed.
Reports said it will be donated to a local zoo.</p
This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
• ‘We made offer but never heard back from Kia Joorabchian’
• Manchester United manager admits striker was hero to fans
Sir Alex Ferguson tonight said the reason Carlos Tevez was no longer at Old Trafford was that the striker was not worth the £25m fee his adviser, Kia Joorabchian, had been demanding. The split between the Argentina striker and his former manager has been bitter, with Tevez accusing Ferguson and the club of refusing to speak to him about extending his two-year loan, which expired last month.
“We made contact with Carlos,” Ferguson retorted. “We sent him texts and spoke to him when he was in Argentina. Our chief executive, David Gill, made an offer to Kia Joorabchian and we spoke to Tevez before we played Inter Milan [in March] and told him we had spoken to Kia but we never heard back.
“In my opinion, I don’t think he was worth £25m. He was popular with the supporters. The fans quite rightly have their heroes and I was happy to go along with the deal as long as it was the right one but, quite simply, he is not worth £25m.”
• Digger: City spree just a present from Abu Dhabi
• Ferguson: Owen may only play every 10 days
• Owen on target again in repeat friendly win
That Tevez has gone from the world champions to a side that finished ninth in the Premier League is, say sources at United, proof that money is the main motivating force for those players who have joined Manchester City. However despite an outlay of £200m under the manager, Mark Hughes, Ferguson doubts City will achieve their aim of breaking into the Champions League positions.
“Well, you just name their best team and then ask where it would go and you would have to say that they would struggle to get into the top four. It is understandable they should go for John Terry, given the money they have got. They have made their intentions known, so if I were in City’s shoes with all that money, I would have a go at doing that myself. He has the experience and he is captain of England.”
About every other Friday for most of the past year, John Sexton, the president of New York University, would duck away from his offices above Washington Square to teach a small seminar class on the American separation of church and state. Sext…
