Dell to buy EMC Corporation in $67bn merger – the biggest tech deal in history October 12, 2015 The rumours were right: Dell had got something really big up its sleeve. The giant just unveiled the biggest tech deal in history, after agreeing to a $67bn acquisition of data storage maker EMC. The offer EMC has agreed to is worth $33.15 a share, of which $24.05 in cash plus tracking stock in EMC's holding [...]
Georgia Healthcare plans to raise £65m in London IPO October 12, 2015 Tblisi-based medical insurer Georgia Healthcare has announced plans to raise $100m (£65m) by listing its ordinary shares on the London Stock Exchange (LSE). The healthcare service and medical insurance provider – Georgia's largest – is a subsidiary of the Bank of Georgia, which has been listed on London's blue-chip index since 2006. Read more: London pharma flotations are rising [...]
Glencore share price dips as miner confirms asset sales in Chile and Australia to shrink debt pile and weather commodities rout October 12, 2015 Embattled mining and trading giant Glencore is selling off assets in Australia and Chile, in a move to diminish its mountain of debt. The company confirmed it will sell its wholly-owned Cobar copper mine in Australia and Lomas Bayas copper mine in Chile, after it flagged early this morning it will announce proposed sales of assets in the regions. The company [...]
Russian commodities firms Eurasia Drilling Company, Uralkali PJSC and Polyus Gold are fleeing London’s stock markets October 12, 2015 Russians are flocking to leave the London stock exchange as commodities companies take a hammering. Eurasia Drilling Company, Russia's largest driller, confirmed this morning its managers would buy out the company and de-list it from the London Stock Exchange, for an increased price of $11.75 a share. If the deal goes ahead, and is approved by two-thirds [...]
The share price of London-listed Internet of Things company Telit has risen 500 per cent since 2012 October 12, 2015 If you needed more proof that the Internet of Things is a booming trend among investors, this is it. Telit communications, a stock listed on London’s junior market, has soared 500 per cent since 2012, Bloomberg reports, as investors are flocked to cash in on the growing sector. The company’s shares are up 37 per cent this [...]
RACE: Ferrari speeds off the starting grid as Fiat Chrysler launches IPO October 12, 2015 The flotation of luxury car maker Ferrari sped off the starting grid with a throaty roar this morning, as Fiat Chrysler, its parent company, announced the launch of its IPO. The company, which owns 90 per cent of Ferrari, said it will sell a nine per cent stake in the company at somewhere between $48 and [...]
Royal Bank of Scotland is rebranding (but you may not notice) October 12, 2015 What better way for banks to distance themselves from a disastrous decade of bailouts and the Libor scandals than a rebrand. Now Royal Bank of Scotland, or RBS as we know it on the high street, is taking a big step forward by, er, changing those three letters from upper case to lower case. Literally, "decapitalising", as the [...]
YouGov revenues jump as pollster’s strong US growth continues October 12, 2015 Pollsters may not be the flavour of the month among politicos after their wholesale failure to predict the outcome of the General Election – but that doesn't seem to have stopped YouGov… The figures The pollster's momentum continued unabated in 2015: today it reported a 13 per cent jump in revenue to £76.1m in the year to the end [...]
Junior market feels the effects of China slowdown and commodities rout as IPOs and M&A plunge October 12, 2015 IPO and M&A activity on AIM have plummeted to the lowest levels since the recession, as jitters over China deter investors. In the last quarter there were just three mergers, down from 13 in the same period in 2014, and 20 in 2010. There was a similar drop in IPOs: just seven companies floated on the [...]
Volkswagen emissions scandal latest: VW’s UK managing director Paul Willis will be grilled by MPs on Monday about the impact to the UK car industry October 11, 2015 Volkswagen UK's managing director Paul Willis is due to face MPs on the Transport Select Committee on Monday to answer questions on how the company’s external investigation is going and how it intends to rectify the damage the emissions scandal has caused. The Society of Motor Manufacturers and Traders' chief executive Mike Hawes will also be questioned [...]