INTERNATIONAL
From Times Staff and Wire Reports
France Approves Offer for Perrier: French authorities cleared Swiss-based Nestle’s offer to buy mineral water group Source Perrier, allowing the takeover bid to move forward on the Paris bourse, Nestle’s partner said. The French finance ministry approved the terms of the $2.4-billion bid, investment bank Indosuez said. The government’s stamp of approval on the bid was the latest setback for Italy’s Agnelli family, which with two allies controls 49.3% of Perrier and is fending off Nestle’s advances. The government’s decision means French stock market authorities, who already have approved the offer, can open the bidding period during which Perrier stockholders can tender their shares.
