Gawker said to be exploring sale following Hulk Hogan lawsuit May 26, 2016 US news and gossip website Gawker Media is said to be exploring a sale after losing a court battle with wrestler Hulk Hogan. Gawker has reportedly hired investment bank Houlihan Lokey to explore options after it was ordered to pay out $140m (£95.6m) to Hogan. Read more: Media and entertainment execs want deals – and [...]
Baltic Exchange chose talks with Singapore Exchange over others because of London commitment, says chief executive May 25, 2016 The Baltic Exchange chose to enter into exclusive negotiations with the Singapore Exchange because of its interest in keeping the organisation London-based, its chief executive has said. Jeremy Penn, who is due to stand down from the Baltic Exchange this summer after more than a decade, told City A.M. the Singapore Exchange wants to use [...]
Analysts expect improved Monsanto offer – Bayer shareholders might not be too happy about it May 25, 2016 Analysts expect Bayer to make an improved offer for Monsanto. But shareholders of the German company might not be too happy about it. US seed company Monsanto rejected Bayer's $62bn (£42bn), or $122 per share, offer on Tuesday, describing it as “incomplete and financially inadequate”. Monsanto did, however, say it was “open to continued and constructive conversations”. Bayer responded [...]
Controversial former Comet owner plans bid for Fitness First, along with second private equity raising May 25, 2016 Opcapita, the buyout vehicle behind the failed turnaround of electrical retailer Comet, is in early stage talks to buy the UK operations of global gym chain Fitness First. Opcapita, headed by former banker Henry Jackson, plans to grow the gym's number of locations around the UK if the bid is successful, City A.M. understands. The acquisition vehicle is also [...]
Media and entertainment executives want deals – and they’re targeting the UK May 25, 2016 UK media and entertainment companies are attracting interest from across the world, a new international mergers and acquisitions (M&A) survey has found. The UK came ahead of the US, France, Canada and China to be named the most attractive investment destination in EY’s Capital Confidence Barometer report focusing on media and entertainment. Read more: Japanese [...]
FedEx completes “historic” €4.4bn European deal May 25, 2016 FedEx has completed its €4.4bn (£3.3bn) acquisition of TNT Express, with the company describing the deal as a “historic event”. The company said in an announcement that the transaction brings together the world’s largest air express network and an “unparalleled European road network”. Read more: FedEx delivers on revenue in third-quarter results It said the [...]
Baltic Exchange in exclusive discussions with Singapore Exchange after takeover offer May 25, 2016 The Baltic Exchange has entered into exclusive discussions with the Singapore Exchange following a takeover offer. The financial maritime hub, which is located in the heart of the City of London, was also understood to have attracted interest from the CME Group, Intercontinental Exchange and Platts. The London exchange is home to the Baltic Dry [...]
US private equity firm in early talks over stake in Formula One May 24, 2016 US private equity firm Silver Lake is in early-stage talks with CVC Capital Partners over a stake in Formula One (F1) motor racing. CVC Capital Partners, which currently has a 35 per cent stake in the sport, has been exploring a range of options for some time. The talks with Silver Lake, first reported by [...]
Cheers! EU antitrust regulators wave through Megabrew May 24, 2016 EU antitrust regulators have waved through ABInBev's £68bn takeover of SABMiller. There is however quite a large caveat in that SABMiller will have to sell almost the whole of its beer business in Europe – though it already has that in-hand. SABMiller has agreed to offload its Peroni, Grolsch and Meantime beer brands to Japan's Asahi Group and to divest [...]
Monsanto rejects Bayer’s “financially inadequate” $62bn takeover offer May 24, 2016 US seed company Monsanto has rejected Bayer’s $62bn (£42bn) takeover offer. On Tuesday, Monsanto described the German firm's bid as "incomplete and financially inadequate". Monsanto's shares grew by around three per cent to $108.99 on the news. After Bayer made its formal offer, Monsanto's shares rose by more than four per cent on last week's value. Read more: [...]