Permira takes Mimecast private in £4.4bn all-cash deal December 7, 2021 Shares in Mimecast jumped more than 6 per cent in pre-market trading on the news that the British cybersecurity firm is being targeted by private equity firm Permira in a take-private deal valued at $5.8bn (£4.4bn). In the latest deal in what has been a very busy year for private equity interest in the tech [...]
London tie-up: Liontrust acquires Majedie Asset Management for up to £120m December 7, 2021 Liontrust Asset Management said this morning that it has agreed to acquire its London peer Majedie Asset Management, in the latest example of a trend of consolidation in the industry. FTSE 250 boutique firm Liontrust said it will pay an initial £80m for Majedie, plus an additional deferred consideration of up to £40m. Due for [...]
Grassroots ESG: Retail activist investment platform Tulipshare raises $11m December 7, 2021 Tulipshare is targeting the next generation of shareholders by tapping into their booming interest in retail investment and demand for a corporate ESG overhaul. After launching in July, the London-based startup has raised $10.8m in seed funding from investors including Eurazeo, Speedinvest and Frst, and received backing from the co-founders of friend locator app Zenly [...]
Blackrock and Vanguard rake in billions: Omicron variant makes Moderna and Pfizer shareholders more than $10bn December 6, 2021 Big pharma executives and shareholders saw their wealth skyrocket in the week after the Omicron variant was discovered, with eight top Pfizer and Moderna shareholders making a combined $10.3bn. Campaigners have accused pharma executives of “making a killing from a crisis they helped to create”, blaming “grotesque” levels of vaccine inequality for creating the conditions [...]
Six Nations stakeholder CVC hires Goldman to plot £11bn IPO December 5, 2021 London-based private equity giant CVC Capital Partners is reportedly working with Goldman Sachs to prepare to follow in Bridgepoint’s footsteps with a blockbuster stock market listing. CVC, which boasts Six Nations rugby and RAC among its portfolio, is working with the bank on a potential float that could value it at up to £11bn, the [...]
Triple whammy: SoftBank shares slide 3.5 per cent after rocky 24 hours for Didi, Arm and Grab investments December 3, 2021 Shares in Japanese conglomerate Softbank sank as much as 3.5 per cent today after three of its high-profile investments Didi, Arm and Grab were hit with setbacks in the last 24 hours. The investment giant’s shares dropped as low as 5,423 yen ($47.89) today, before settling slightly higher, but with losses of 23 per cent [...]
Abrdn ramps up digital push and seals the £1.5bn deal for Interactive Investor December 2, 2021 FTSE 100 asset manager abrdn has finalised its £1.5bn takeover of Interactive Investor, the UK’s second-largest fund supermarket, in its third major digital investment this year. In a deal that adds Interactive Investor’s over 400,000 customers and assets under administration of around £55bn to its portfolio, abdrn will acquire 100 per cent of the platform’s [...]
What are bull and bear markets? December 1, 2021 | City Talk TLDR Bull market 👍 Bear market 👎 The terms “bull” and “bear” can be used to describe the behaviour and condition of financial markets or individual assets, reflecting substantial trends of 20% either upwards or downwards respectively, typically over a sustained period of time. They are also terms that reflect the sentiment of investors. Investors being [...]
The long view: Cathie Wood’s ARK nabs 1m Twitter shares as Dorsey steps down December 1, 2021 Cathie Wood, the well-known U.S. investor and founder of ARK Investment Management, loaded up on 1m Twitter shares on Tuesday as the social media giant’s stocks hit a 12-month low in the wake of founder Jack Dorsey’s decision to step down as CEO. AEK Investment Management, which already has one of the biggest shareholdings in [...]
Peel Hunt revenue and profit sink from pandemic highs in its maiden results December 1, 2021 Peel Hunt, the London broker for mid and small-cap companies, said its revenue dropped by almost a quarter in the six months to 28 September, immediately prior to its £280m listing on London’s AIM market at the end of that month. Revenue sank 23.4 per cent to £71.4m, down from £93.2m in the same period [...]