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Family Business Roundup: News Corp, Goya Foods, and Henkel

By Michael Finnigan

News Corp bid for Wireless Group finalised

The bid by Rupert Murdoch's News Corp to take over Irish new media company Wireless Group has received backing from more than 92% of Wireless shareholders.

According to a joint statement, the cash offer, announced in June and valuing Wireless at £220 million ($289 million), will stay open to remaining shareholders until further notice.

“Shareholders are strongly recommended to accept the offer as the cancellation of listing would significantly reduce the liquidity and marketability of any Wireless shares not acquired by News Corp,” the statement said.  

The Murdoch family controls almost 40% of News Corp voting shares, while owning just 12%, with annual revenues of $8.63 billion.

Goya Foods reveals 80th anniversary sponsorship deal

Goya Foods, the largest Hispanic-owned food company in the United States, has revealed it will sponsor the 2016 New York International Salsa Congress (NYISC) as part of its 80th anniversary celebrations.

"Goya is proud to support the NYISC, an exciting cultural event held in a city that has been so loyal to our brand for so many years," Rafael Toro, director of public relations at Goya Foods, said.

"As we celebrate our 80th anniversary, aligning ourselves with the NYISC and its goal to preserve our cultural roots magnifies the gratitude that Goya feels toward the communities that have been with us for all these decades."

Goya Foods, headquartered in New Jersey, has doubled in size since 2000, growing in line with the US's increasing Hispanic population. The firm reported revenues of $1.3 billion in 2012.

Henkel shares at record high on emerging market success

German consumer goods maker Henkel AG & Company, led by the Henkel family since 1876, raised its profit margin forecast for the year on strong demand from emerging markets, driving its shares to a record high.

According to a statement, the Dusselforf-headquartered firm now expects an EBIT increase of more than 16.5%, thanks to strong emerging markets demand, particularly in Latin America and eastern Europe.

Henkel, currently chaired by fifth-gen Simone Bagel-Trah, also benefited from lower input costs and marketing expenses as well as an improved global distribution chain.

The group concluded that slowing growth in China was worse than expected where organic sales only increased by 0.4%. Its 2015 revenues were €18 billion ($20.35 billion).