At 02:05 AM 9/10/98 -0600, you wrote:
>
>Date: Wed, 9 Sep 1998 23:21:44 EDT
>From: MGMagnette@aol.com
>Subject: Evil Dr. Joesph Lucas now US citizen!
>
Pretty strnge 'acquisition, if you ask me -- Lucas 'acquired' Varity, but,
pretty soon the company will:
1. Be called Varity
2. Have HQ in what was the Varity HQ
3. CEO is (I think) former Varity CEO
Any wonder why UK investors think the merger was half-empty? Anyway, Lucas
has licensed it's name on some products for a while. They dont make
batteries any more, they sold the lighting division (bulbs) to Magnetti
Marelli (I think).
Companies can be listed on more than one stock exchange -- so the argument
on investor relations looks a bit weak. Big companies can borrow
internationally, so I think that argument is weak. What is left?
All I can think is that the Lucas board surrendered for some unaccountable
reason.
Unless they felt that they could not make profits in Europe, so had to sell
in the US and a stronger US presence would make this easier - but even
than, no manufacturing, engineering or marketing will move, so what is the
advantage, except, if perhaps the CEO wants to live in the US?
Regards,
Simon (former Lucas employee, as are my wife, mother and father-in-law)
>
---
Simon Matthews MailTo:simon_matthews@avanticorp.com
'57 MGA
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