Struggling Clinigen enters £1bn talks with Triton Investment Management December 3, 2021 Struggling UK pharmaceutical services company Clinigen is reportedly in talks with private equity Triton Investment Management for a takeover proposal worth £1bn. After the “non-binding indicative proposal” was announced, the company’s shares rocketed by almost 25 per cent on the London market, reaching 786.41p and then closing at 741.30p. “The board of Clinigen is in [...]
Wickes lifts profit forecast to £83m beating analyst expectations December 3, 2021 Wickes has announced it expects fully year profits to reach £83m beating the upper range of analyst forecasts at just £75m.
City Moves: Who’s switching jobs in the Square Mile today? December 3, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Akin Gump US law firm Akin Gump has hired a partner to the firm’s London office who will work closely with the private equity and corporate M&A teams. Stephen Brown, who will also work with the tax team in the [...]
RAC accuses petrol retailers of taking ‘drivers for a ride’ as prices rise despite plummeting wholesale costs December 3, 2021 RAC slammed petrol retailers today for raising prices in November despite plummeting wholesale costs on both major oil benchmarks.
Disability in the corporate world: Challenging and championing perspectives December 3, 2021 ICAS highlights the need to champion the rights and wellbeing of disabled people on International Day of Persons with Disabilities (IDPD). There are 14.1 million disabled people living in the UK. Despite protections under law, disabled people still face widespread prejudice, intentional or otherwise, across all facets of society. Statistics compiled by disability equality charity [...]
Sigh of relief in South Africa as Omicron variant appears to be ‘super mild‘ mutation with Covid death rate not jumping December 2, 2021 The WHO and Coronavirus experts are increasingly convinced the new Omicron variant is ‘super mild’ and has, so far, not led to a jump in Covid death rates anywhere in Southern Africa. The WHO is calling this morning for countries to drop travel restrictions and end the mass hysteria, and instead be cautiously optimistic as [...]
Global banking bigwigs slapped with millions in fines for FX rigging December 2, 2021 Some of the world’s largest banks were today slapped with millions of pounds in fines for their role in rigging foreign exchange markets. HSBC, Barclays, Credit Suisse and NatWest were each reprimanded by the European Commission for having employees on their books that created a cartel that spiked currency markets. HSBC was hit with the [...]
Alphawave dishes out $25m in first acquisition following London IPO December 2, 2021 Alphawave has bought telecoms firm Precise-ITC for some $25m – its first acquisition since it debuted on the London Stock Exchange earlier this year. The deal for the Canadian ethernet and optical communications company, which is expected to close in January and contribute to next year’s revenue, intends to supply Alphawave customers with integrated IP [...]
OPEC+ maintains output rises despite fears of reduced oil demand December 2, 2021 OPEC and its allies including Russia (OPEC+) are sticking to monthly oil output increases, despite fears of reduced demand following the new Omicron variant.
CD&R £7bn Morrisons takeover put on ice amid market volatility December 2, 2021 Clayton, Dubilier & Rice’s takeover of British supermarket Morrisons has been postponed to next year, as lenders push back on the massive debt package that the US private equity firm is using to finance the buyout to wait out market volatility. In what represents the UK’s biggest buyout in more than a decade at a [...]