Bovis Homes urged to pursue deal with Redrow over Galliford Try by top 10 investor Royal London Asset Management March 19, 2017 Bovis Homes has been urged to ditch Galliford Try merger talks for fellow rival Redrow by one of its top 10 investors. The suggestion by Royal London Asset Management, which owns a 3.5 per cent stake in Bovis, came as it emerged that Redrow is considering a revised offer. Read more: This is what analysts [...]
Bank of England steps up to push along Co-op Bank rescue plans, amid worries buyers might be shying away from the struggling lender March 19, 2017 The Bank of England's regulatory team has begun making plans of its own for Co-op Bank, as they become increasingly impatient with the troubled lender's sale. The Co-op Bank, which is currently 20 per cent owned by the wider Co-operative Group, revealed last month it was looking for a buyer for the whole of the business. [...]
Wood Group’s chief exec says regulators must consider the fact North Sea oil has moved on March 19, 2017 The chief executive of Wood Group said its £5bn merger with Amec Foster Wheeler will not be bad for the North Sea oil sector. Last Monday Wood Group announced it had agreed a deal with Amec in the hope of generating cost savings of more than £100m. Read more: UK oil services companies in £5bn merger deal The [...]
Behind the Panmure Gordon takeover deal: Bob Diamond buyside shuns big banks for unknown entity Hopton Advisers March 19, 2017 Although the £15.5m Panmure Gordon takeover is small, the deal is also a high-profile one for the City of London. It’s not every day the former chief executive of Barclays, Bob Diamond, launches a takeover bid for a City institution like Panmure. Therefore, some will have been surprised by the names of the advisers working [...]
Deutsche Bank kicks off its €8bn rights issue on Tuesday as German lender attempts to bolster its capital March 19, 2017 Deutsche Bank announced today it is due to press go on its €8bn (£6.9bn) rights issue on Tuesday, as the German banking giant tries to shore up its capital. The Frankfurt-headquartered lender announced a slew of plans to improve its capital position earlier this month, including, in addition to the rights issue, holding onto its Postbank division, streamlining [...]
Mergermarket appoints EY advisers to sell its life sciences arm for £20m March 19, 2017 Data giant Mergermarket Group is mulling a £20m sale of its life sciences arm Infinata. The group, which publishes financial news website Dealreporter and runs data services like Debtwire, has appointed EY to advise on the deal, the Sunday Times reported. The sale is expected to conclude within weeks. Private equity giant BC Partners, which owns [...]
Unilever is exploring a £6bn sale of spreads brands such as Flora and Stork after Kraft Heinz deal collapse March 19, 2017 Unilever is exploring the sale of some of its most iconic brands after coming under shareholder pressure over a $143bn takeover bid from Kraft Heinz. Paul Polman, the FTSE 100 firm’s chief executive, is drawing up cost-cutting and restructuring plans, which could lead to the sale of its margarine and spreads business. The division, comprising [...]
Apple’s British design chief Jonny Ive invests in tech accessory startup that counts Victoria Beckham and Beyonce among customers March 19, 2017 A London-based phone case startup, that counts Victoria Beckham and Beyonce as customers, has attracted investment from Apple's British design chief Sir Jonathan Ive. Chaos, a fashion consultancy run by Charlotte Stockdale and Katie Lyall, has launched a tech accessory division which includes products like a £185 personalised initial case and a £170 phone cover that has [...]
Theresa May is taking business support for granted says Tim Farron March 19, 2017 Lib Dem leader Tim Farron has accused Prime Minister Theresa May of taking her party's support from the business community "for granted", and issued a stark warning to Conservative MPs to "defect or resign". Speaking at the Lib Dem's spring conference in York, Farron said that May had "hung out to dry her own backers in British [...]
Nicola Sturgeon says that Single Market membership is “the minimum” for Scotland March 19, 2017 Scottish first minister Nicola Sturgeon has vowed to secure Scotland's membership in Europe's Single Market after last week declaring she would seek a referendum on independence. Last Monday, Sturgeon announced she would call on MSPs to back a motion demanding a vote on remaining within the UK by Spring 2019. Downing Street has already slapped down the [...]