Coke makes pre-merger filing for Glaceau takeover
New York: Global soft drinks giant Coca-Cola has made a pre-merger filing with the US anti-trust regulators to acquire energy drink maker Glaceau.

Tata Group holds 30 per cent sake in Glaceau.

Coca-Cola has filed a pre-merger Hart-Scott-Rodino Act (HSR) notification with the Federal Trade Commission which is necessary for deals of significant size under anti-trust regulatory framework, which seeks to prevent merger and acquisitions that could reduce competition, lead to higher prices, lower quality of goods or services, or decreases innovation.

Tata Tea had acquired a 30 per cent stake in Glaceau for $677 million in August last year.
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Alcan rejects Alcoa's bid
New York: Alcoa's $27.6 billion takeover offer for Canadian rival Alcan has been rejected by the latter.

The U.S. aluminum company's chief financial officer Charles McLane said that Alcoa's offer was full, fair and balanced. He declined to comment on specifics of the rejection until he could review it with fellow Alcoa executives.

McLane said the merger, if it obtained the necessary regulatory approvals from the United States, Canada, Australia, the European Union and other bodies, could close by the end of the year.
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Bush wins tussle with Democrats over Iraq war funding
Washington: President George W. Bush has won the tussle against the Democrats over funding the Iraq war. Bush will get about $100 billion to fund the ongoing war in Iraq as Democratic leaders in Congress on Tuesday abandoned efforts to withdraw troops for the present. They however said they will try again in July.

Instead of setting the agenda for pullout of U.S. troops, the Democratic-run Congress and the Republican White House agreed for the first time to include conditions prodding Baghdad to make better progress toward quelling violence or risk losing around $1.3 billion in U.S. reconstruction aid.

Despite the Iraq funding deal, Democrats said the first minimum wage increase in a decade would be included. Congress has already approved tax breaks for small businesses to go along with the wage hike. Democrats will try to attach about $20 billion in domestic initiatives -- from farm aid and better health care for veterans, to health insurance for poor children and money to continue rebuilding states hit by hurricanes in 2005.
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