Private healthcare giant Mediclinic rejects £3.4bn offer from consortium June 9, 2022 Private hospital operator Mediclinic has rejected a £3.4bn takeover approach from a consortium including billionaire luxury goods tycoon Johann Rupert. In an update on the London Stock Exchange, the Mediclinic board confirmed that it received an unsolicited and conditional proposal from a consortium on 26 May 2022. The consortium consisted of South African investment firm [...]
Apollo and Reliance Industries join forces to make binding bid of up to £6bn for chemist Boots June 9, 2022 Private equity firm Apollo and Indian conglomerate Reliance Industries have made a binding bid for high street chemist Boots, it has been reported. According to the Financial Times, the offer values the company at between £5bn and £6bn, two sources familiar with the deal told the newspaper. US owner Walgreens Boots Alliance had been looking [...]
Moscow will cover Russian oil tankers hit by UK and EU insurance ban, Putin ally says June 8, 2022 Vladimir Putin’s right-hand man has said Moscow will cover Russian oil tankers to ensure they are able to continue making deliveries, if they are unable to get insurance due to Western sanctions. Speaking via messenger platform Telegram, former Russian president and key Putin ally Dmitry Medvedev said the Kremlin will cover uninsured ships, through assurances [...]
EY to capitalise on booming private equity market via $1bn investment over the next four years June 8, 2022 EY today set out plans to capitalise on the $5trn private equity (PE) market, with a view to bolstering its PE offerings by investing $1bn (£800m) into its business over the next four years. The Big Four accountancy firm said it aims to solidify its “leading market position” by investing the $1bn sum into expanding [...]
Soonicorn to unicorn: Euan Blair’s apprenticeship outfit Multiverse hits $1bn valuation after new funding round June 8, 2022 Multiverse, the professional apprenticeship start-up founded by Euan Blair, has hit a valuation of $1.7bn (£1.3bn) after completing a $220m (£175m) series D funding round. The round – co-led by StepStone Group and returning investors Lightspeed and General Catalyst – doubles the London-based firm’s valuation from just eight months ago, and will be used in [...]
Female founders face greater risk of equity dilution than men June 8, 2022 Female founders are significantly more vulnerable to the dilutive effects of equity funding than their male counterparts, according to new research from JP Morgan, which shows women, on average, give away much larger stakes in their businesses than men. The UK’s 10,647 female led businesses raised a record £5.05bn in equity investment in 2021, whilst [...]
MPs call for lower taxes as UK marks latest annual Tax Freedom Day since the early-1980s June 7, 2022 MPs have called on the UK government to cut the burden on UK taxpayers after new figures showed working people spent a higher proportion of their incomes on taxes than at any other point since the early-1980s. The calls come after the Adam Smith Institute (ASI) published new figures, for Tax Freedom Day, showing UK [...]
Trust in an online watch auction platform June 7, 2022 | Sponsored The pre-owned watch market is hot now, but the process is old fashioned, as traditional auction houses can be slow at securing a deal. Although watch dealers can be quicker, they want a healthier margin, and listing with an unsophisticated online marketplace is risky and time-consuming. Watch Collecting aims to change that, offering a ‘free [...]
Invest in a precious collectable car or bike June 7, 2022 | Sponsored How about driving a 1961 Mercedes-Benz — or the vintage car of your dreams — around town? Collecting Cars has plenty of quality cars to choose from. A global online marketplace that specialises in collectable cars and bikes, it has bidders in more than 100 countries and more than 100,000 registered users. Since its launch [...]
Use a regulatory technology software platform June 7, 2022 | Sponsored A cloud-first strategy for many organisations means that software as a service is becoming as important as in-office tools. AIM Digital Solutions has developed dataBelt (part of its dataEstate software suite), a regulatory technology software platform that blends key developments in the IT industry, with data discovery and management at its core. Developments include robotic [...]