News: Hitachi Ltd (6501.T)
27 Nov 2014
MILAN - Technology firm Insigma has teamed up with another Chinese company to try to buy Finmeccanica's rail assets, two people familiar with the matter said, a move that could thwart a rival bid from Hitachi.
(Corrects eighth paragraph and third bullet point after company issues new statement removing reference to talks time-frame)
MILAN, Nov 27 - Technology firm Insigma has teamed up with another Chinese company to try to buy Finmeccanica's rail assets, two people familiar with the matter said, a move that could thwart a rival bid from Hitachi.
LONDON, Nov 19 - Dinakar Singh, founding partner of hedge fund TPG-Axon Capital, said on Wednesday he was backing Hitachi over European and U.S. rivals and saw between 30 and 50 percent upside for the stock.
Hitachi Ltd is in talks with two Philippine companies to offer information technology solutions and services, the Philippine Star newspaper reported.
MILAN - Italian industrial conglomerate Finmeccanica said on Tuesday Japan's Hitachi had submitted an offer to buy rail assets it has put on the block as part of plans to cut debt.
* Hitachi could offer around $1.7 bln for assets - Nikkei (Recasts lead, adds source, shares)
(Adds Informa, CIMB, Hitachi, CitySpring Infrastructure Trust, Abraaj Investment Management, Huayi Brothers Media, Hebei Iron and Steel Group)
* Says to book 47.5 billion yen ($410 million) special profit on parent basis in Oct-Dec on partial sale of Western Digital shares Further company coverage: (1 US dollar = 115.8200 Japanese yen)
* Finmeccanica to present new business plan in Jan (Recasts, adds details on rail disposal process, shares)
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