Millipore confirms evaluating vital alternatives

Krishnakali Sengupta BANGALORE Wed Feb 24, 2010 12:54pm EST Related News UPDATE 3-Millipore confirms evaluating strategic alternativesWed, Feb 24 2010Thermo Fisher in $6 billion bid for Millipore: sourceMon, Feb 22 2010UPDATE 3-Thermo Fisher in $6 bln bid for Millipore-sourceMon, Feb 22 2010 Stocks & &

BANGALORE (Reuters) - Life-sciences tool maker Millipore Corp (MIL.N) confirmed late Tuesday it was evaluating strategic alternatives, which would include pursuing a process with potential bidders to explore a merger or sale of the company, sending its shares up 5 percent.

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A source familiar with the situation told Reuters on Monday laboratory equipment maker Thermo Fisher Scientific Inc (TMO.N) offered to buy Millipore for $6 billion.

Morgan Stanley analyst Marshall Urist, who remains hopeful about completion of a transaction, said Tuesday"s announcement was of "little surprise."

Thermo Fisher"s shares dropped 2 percent on Wednesday. On the stock"s fall, Deutsche Bank analyst Ross Muken said investors feared that Millipore"s announcement makes a takeover process more competitive and might put upward pressure on the eventual deal price.

"Millipore is an extremely attractive asset with some very nice growth area, and we think the combination with Thermo Fisher makes the most sense both financially and strategically," Muken added.

Millipore shares had soared as much as 36 percent on Monday to an all-time high as analysts then viewed the takeover bid as a "major positive."

Millipore has engaged Goldman Sachs as its financial advisor and Cravath, Swaine Moore LLP as legal advisor, it said in a statement.

It has not set a definitive timetable for completion of its strategic evaluation.

The company said it does not plan to disclose developments regarding the process unless and until its board approves a specific transaction.

Millipore, which has a market capitalization of about $4 billion, makes filters and purifiers for laboratory water and other materials used in making biotechnology drugs.

Shares of Millipore were up $4.43 at $93.30, while those of Thermo Fisher were down $1.07 at $48.60 in afternoon trade on the New York Stock Exchange.

(Additional reporting by Sakthi Prasad; Editing by Kazunori Takada, Aradhana Aravindan and Maju Samuel)

Deals Inflows Outflows

Israeli shrewd person view diminished over cloned UK passports

Catherine Philp, Diplomatic Correspondent, and James Hider in Jerusalem & , : {}

A serious rift in relations between Britain and Israel opened yesterday after a criminal investigation uncovered compelling evidence that Jerusalem had cloned the UK passports used in the assassination of a senior Hamas operative in Dubai.

Britain responded by expelling a senior Israeli diplomat, believed to be the Mossad station chief in London; imposing new travel advice, warning Britons of the threat of state-sponsored identity theft in Israel; and demanding a public assurance that Israel would never misuse British passports again.

Ron Prosor, Israels Ambassador, expressed his disappointment but said he was determined to strengthen the firm foundations of the relationship between Britain and Israel. The froideur only increased, however, when it emerged that David Miliband, the Foreign Secretary, had cancelled his scheduled attendance at a reception marking the renovation of the Israeli Embassy yesterday.

Instead, Mr Miliband told the Commons of the conclusion of the investigation by the Serious Organised Crime Agency (Soca) and denounced Israels behaviour as intolerable and displaying a profound disregard for the sovereignty of the United Kingdom.

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The fact that this was done by a country which is a friend, with significant diplomatic, cultural, business and personal ties to the UK, only adds insult to injury, he added. He said he had demanded a formal assurance that the fraud would not recur from Avigdor Liebermann, the Israeli Foreign Minister. The travel advice to be issued to British citizens would depend on the answer that he received.

Diplomatic sources told The Times that the assurance would have to be public in effect, forcing Israel to admit its involvement in the fraud and, by implication, in the assassination of Mahmud al-Mabhuh on January 19.

Suspicions fell on Israels intelligence agency immediately after the killing, but they were reinforced when it emerged that all of the Western passport holders whose identities were used were also Israeli nationals. Mr Miliband said that Soca investigation had lead directly back to Israel and that no other country appeared to have been involved.

Given that this was a very sophisticated operation, in which high-quality forgeries were made, the Government judges it is highly likely that the forgeries were made by a state intelligence service, he said. Taking this, together with other inquiries, we have concluded that there are compelling reasons to believe that Israel was responsible for the misuse of the British passports.

The passports of Irish, German, French and Australian citizens were also used but those countries are yet to conclude their investigations.

Israel said that it regretted the British move to expel the Mossad representative but, while the Government in Jerusalem was measured in its response, MPs from the far Right denounced the British as untrustworthy dogs.

I think the British are behaving hypocritically, Aryeh Eldad, of the National Union, an ultra-nationalist, pro-settler party, told Sky News. Who are they to judge us on the war on terror?

Michael Ben Ari, another National Union MP, said: The British are dogs but they are not loyal to us . This is anti-Semitism disguised as anti-Zionism.

Israeli aircraft set upon Gaza after lethal space station attack

Times Online & , : {}

Israeli aircraft pounded at slightest 6 targets in the Gaza Strip early today, the day after a space station dismissed from the Palestinian enclave killed a Thai workman in Israel as Baroness Ashton of Upholland, the EUs emissary unfamiliar process chief, was on vacation the blockaded territory.

Two civilians were bleeding in one of 3 attacks on bootlegging tunnels along the limit with Egypt. The alternative targets enclosed dual open areas in Khan Younis and a steel foundry nearby Gaza City.

An Israeli troops orator reliable 6 sites had been targeted, together with dual tunnels dug nearby the Israeli limit blockade and a weapons production site, and combined "direct hits were identified."

The space station attack, from a in advance Palestinian organisation with suspected ties to al-Qaeda, was the third in twenty-four hours, but the initial lethal conflict from Gaza at Israel in some-more than a year.

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It came as Lady Ashton was on vacation UN comforts in the coastal enclave, that was tough set upon in a fight fourteen months ago when Israel launched a vital descent to try to stamp out consistent space station glow by Hamas, who order the territory, and alternative belligerent groups.

On Thursday, Silvan Shalom, Israel"s emissary Prime Minister, warned that Israel would have a clever reply to the conflict by the small well known Ansar al-Sunna group, who cruise Hamas to be as well assuage and not Islamic enough.

Israel additionally sent a minute of censure to UN Secretary General Ban Ki-moon, who is due to revisit Israel at the weekend, and the UN Security Council.

Hamas Islamists, who took carry out of the Gaza Strip in 2007, had been propelling alternative belligerent groups not to set upon Israel, voicing regard about probable Israeli retaliation.

Palestinian militants in Gaza have carried out occasionally space station and trebuchet explosve attacks on Israel given the finish of a three-week Gaza fight in Jan 2009, in that 1,400 Palestinians and thirteen Israelis were killed, customarily but causing any casualties.

The Israeli troops orator pronounced some-more than 330 rockets have been dismissed from Gaza given the war. "We will go on to action opposite any one who executes apprehension attacks opposite Israel," he said, celebration of the mass a rebuilt statement.

The ultimate air strikes took place prior to a programmed revisit by US attach� George Mitchell, who is looking to relaunch moribund assent talks in the region.

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Chester City wound up in the High Court Football League

Neil Gardner & , : {}

Chester City have currently been wound up in the High Court over an delinquent taxation bill.

The 125-year-old club, who were diminished from the Football Conference in February, due HM Revenue Customs 26,125.

Chester unsuccessful to do their last dual Blue Square Premier fixtures and were primarily suspended, afterwards thrown out of the joining last month.

An FA Spokesperson said: The FA records todays preference of the High Court in propinquity to Chester City. The circuitous up of any bar is a loss to the diversion and in sold to the supporters of that club.

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In sequence to contend a comparison football bar in the city of Chester, The FA will acquire applications if the bar wishes to reform. Any such applications will be deliberate by The FA"s Leagues Committee.

However, City Fans United, a supporters group, have vowed to begin a new bar in a reduce league. Spokesman David Evans said: "125 years of story have been out currently but that"s only the physique of the bar - the essence lives on.

"Today is the day to contend to everyone that the bar will be run in a veteran approach and be a credit to the city and to football.

"Our indication is AFC Wimbledon or AFC Telford, where a new bar has been run on a really advantageous basis. We wish to make amends for the approach the bar has been run - we see this as the shortcoming even though it wasn"t the fault."

Cardiff City and Southend United additionally appeared in the High Court currently to face winding-up proceedings.

Cardiff have been since until May 5 to solve a taxation debt to Her Majesty"s Revenue and Customs in sequence to equivocate following Chester in to liquidation.

Matthew Smith, representing HMRC, pronounced that the bar due around 1.9million and were "robbing Peter to compensate Paul" in sequence to stay afloat.

Elaine Palser, representing Cardiff, pronounced a "third party" financier would be on condition that the bar with 6million in supports and the taxation debts would be paid.

Southend were since a serve 35 days to compensate a taxation check of roughly 200,000 after Ron Martin, their chairman, managed to win an demurral and right away have until Apr fourteen to solve up.

The uneasy Shrimpers have been forced to make use of a loan from the PFA to assistance compensate the players" salary for January, definition they are right away underneath a send embargo.

They slipped in to the relegation section following Saturday"s 3-0 better by Hartlepool.

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Justice contingency be seen to be finished manners judge

David Brown: Behind The Story , : {}

The authorised moves towards leisure finished by Peter Sutcliffe have been hidden in privacy for the past fifteen months.

In Nov 2008, Mr Justice Pitchford systematic that the Yorkshire Ripper be referred to usually as P to strengthen him from critical harm.

This meant that it was unfit for the media to surprise the box involving one of Britains majority scandalous offenders. However, Mr Justice Mitting invited the media to have representations about the defendants anonymity at the High Court conference yesterday. Lawyers representing the media, headed by The Times, were to put brazen their arguments. The BBC educated the attorney Anthony Hudson.

Paul Bowman, representing Sutcliffe, pronounced that he would not aspire to the ask that his customer should keep his anonymity.

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In the event, Mr Justice Mitting compulsory small persuading to lift the sequence . The decider pronounced that it was the major element that probity should be seen to be finished and he could see no reason because the media could not surprise all listened in open court. The decider added: It is right away usual ground, this is piece of the rapist routine and contingency thus ensue in the defendants own name.

The Crown Prosecution Service had asked for stating of the conference to be behind for fourteen days but forsaken the ask after contacting kin of Sutcliffes victims to surprise them of the developments.

Losses at taxpayer-owned Lloyds bloat to 6.3bn on bad debts

Francesca Steele & , : {}

Lloyds Banking Group currently suggested a loss of �6.3 billion for last year as the bad debts swelled to �24 billion after the lender was forced to write down the worth of bad investments finished by HBOS.

Despite the loss, that compares with a �6.7 billion loss in 2008, the bank, that is 41.3 per cent owned by the British taxpayer, is approaching to compensate out about �200 million in bonuses to the staff.

The figure is far next the �1.7 billion the Royal Bank of Scotland (RBS) earmarked yesterday for bonuses since Lloyds does not have an investment promissory note division.

A mouthpiece reliable that the Lloyds reward pool would be a really small commission of the total income for 2009, that was �24.6 billion.

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Eric Daniels, the Lloyds arch senior manager who, to one side the former chairman, Sir Victor Blank, helped to drive the takeover of HBOS in 2009, has waived his annual reward for a second year.

This follows identical moves by Stephen Hester, the arch senior manager of RBS, as well as John Varley, the Barclays boss, and Bob Diamond, the president.

Mr Daniels was underneath measureless vigour in Aug last year when a little shareholders called for his departure, following Sir Victor who stepped down among annoy over the shotgun merger of HBOS.

The �24 billion in bad debts owes especially to deals finished by HBOS, that invested heavily in genuine estate and took equity in a series of skill companies that suffered high falls in the worth of their portfolios over last year.

Lloyds pronounced that it bad debts, or spoil charges, had additionally been driven by stagnation and the diseased economy.

However, the bank pronounced that it approaching them to be reduce this year and that it believed they had appearance in the initial half of 2009, with cumulative loans benefiting from improvements in the housing market. Bad debts fell by twenty-one per cent in the second 6 months of last year.

Lloyds said: "Given the stream mercantile outlook, we design to see a identical gait of half-yearly alleviation via 2010, with serve estimable reductions in 2011 and beyond."

Overall, the bank pronounced that it had finished a orthodox pre-tax distinction of �1 billion in 2009.

This total takes in to comment a organization to help the poor benefit of �11 billion after the merger of HBOS in Jan last year, reflecting the actuality that Lloyds paid for HBOS for extremely less than the book value. The banks �6.3 billion loss for 2009 excludes this organization to help the poor gain.

Lloyds lifted a jot down �13.5 billion in Oct by offered shares and managed to equivocate the Government"s Asset Protetction scheme, that was set up to defense banks from their majority poisonous loans.

The organisation pronounced that it approaching the British economy to grow by 1.8 per cent this year.

Today the revised GDP total for the fourth entertain will explain to what border the UK has emerged from recession.

In January, the total showed that the economy grew by usually 0.1 per cent in the 3 months to Dec 31.

Lloyds has emphasised the recognition as a sell bank.

However, total published yesterday by the Financial Obudsman Service indicated that Lloyds, that owns Halifax, Britains greatest debt lender, is the majority complained about bank in Britain, reception roughly a entertain of all new complaints lodged opposite monetary businesses from Jul to December.

Lloyds shares fell in early trading, down 1.95 per cent to 53.7p.

José Mourinho questions either Chelsea are a "strong" group Football The Guardian

José Mourinho will face his former bar Chelsea on Wednesday for the initial time given withdrawal Stamford Bridge in 2007. Photograph: Martin Rickett/PA.

José Mourinho has claimed that Chelsea"s strife with his Internazionale group at San Siro on Wednesday in the turn of sixteen of the Champions League is European bar football"s greatest arise of the deteriorate so far.

It is additionally the initial time Mourinho has faced Chelsea given 3 rarely successful years in assign there and he questioned the club"s jot down underneath Carlo Ancelotti. Mourinho pronounced a "strong team" would not lose 4 Premier League games as Chelsea have during the Italian"s opening deteriorate at Stamford Bridge.

With courtesy to Wednesday"s tie Mourinho said: "It"s a big game. It"s a big diversion for Inter, the a big diversion for Chelsea. It"s a big diversion additionally for Europe since I don"t see in these last 16-round matches an additional one with dual teams of these dimensions. So I think this is the genuine big diversion of this last 16."

Mourinho"s Chelsea reign finished in Sep 2007, with the bar carrying claimed each made at home honour. But notwithstanding Mourinho"s story at Stamford Bridge he pronounced there would be no additional tension on Wednesday.

He said: "Not nervous, not excited, I guarantee you. I have to see at this diversion with the tension of any Champions League game, but any additional adrenaline, proclivity or additional pressure. "

Mourinho walked out on Chelsea after a unsatisfactory begin to the 2007-08 season. But he denied additional wish would be gained from stealing them from the competition. He said: "It"s the same for me if I hit Real Madrid out or Bayern Munich. And it"s the same for them if they hit out Arsenal or Porto. I think there would be no special wish from that. If a Chelsea player is happier to kick me than to kick an additional manager, I will be really unfortunate since I don"t assimilate that. If I am happier to kick them than to kick an additional group I think they have a reason to be really unhappy. The usually thing in the diversion is that we"re all professionals and we wish to win. I wish to, they wish to win, somebody will win, somebody will lose."

Mourinho refused to singular out a match-winner in his former team. "Everybody has good potential, everyone has their strengths," he said. "If you ask Ancelotti if the risk is [Samuel] Eto"o, Diego Milito, Julio Cesar or Maicon he"ll contend the same. He will contend the representation will be full of big players and we have dual good teams."

Mourinho was clear, though, that he will do all to acquire his former employer, Roman Abramovich. Asked if he would yield the red-carpet diagnosis for Chelsea"s owners he said: "For sure. I have to content to ask him to see if he needs something from me, if he needs assistance with tickets, boxes, hotels, something, since when I go to London and alternative places he"s regularly accessible to give me support."

At the week end Mourinho distinguished eight years but better at home in joining and made at home crater competitions, following his team"s goalless pull opposite Sampdoria. The jot down was one after another notwithstanding both Inter"s executive defenders being sent off in the initial half at San Siro.

Chelsea"s 4 joining defeats underneath Ancelotti this season, meanwhile, have all come afar from home. And Mourinho did demonstrate warn at this. He said: "Of march when a group is strong, strong, clever it doesn"t lose so most matches, so most points. The Premier League is never easy, each diversion routinely is difficult, you can lose each game. But people that know the Premiership know that each diversion is difficult."