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Aerospace and Defense

Defense budgets are not declining as sharply as some had feared, but companies are scrambling to ensure continued earnings growth. Get exclusive insight into the defense sector from the Reuters Aerospace and Defense Summit.  Full Coverage 

    SocGen says board never discussed bid offer

    PARIS
    Wed Jan 30, 2008 12:03pm EST

    PARIS (Reuters) - French bank Societe Generale said that a board meeting held on Wednesday never discussed the subject of a takeover bid for SocGen.

    "The topic was not on the agenda of the board," said a spokeswoman for the bank.

    SocGen shares were up 5.4 percent in late afternoon trade after French newspaper Le Figaro carried out a report by news agency AFP which said that SocGen chairman Daniel Bouton was "open to a friendly offer."

    The SocGen spokeswoman said the report was "without foundation."

    (Reporting by Yann Le Guernigou, Sudip Kar-Gupta)


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