Oil price volatility holding back “inevitable” M&A in industry, new survey of executives finds April 12, 2016 Oil price volatility is holding back mergers and acquisitions (M&A) activity in the industry, according to a new report. With falling energy prices, distressed sales and bankruptcies in the oil and gas sector, M&A levels are widely predicted to increase. But research by law firm Clyde and Co has shown that the "inevitable" wave of activity has [...]
Merged London Stock Exchange group could “under no circumstances” be based in UK if nation votes for Brexit, says Frankfurt politician as Tory MP slams German “desire to take over” April 12, 2016 The political row over the proposed merger between the London Stock Exchange and Deutsche Boerse has escalated. A German member of parliament told City A.M. that the merged company could "under no circumstances" be based in the London rather than Frankfurt if the UK votes for a so-called Brexit. Ulrich Caspar, a member of parliament for [...]
UK is top targeted European country for M&A deals from emerging markets April 11, 2016 The UK was the number one European target for inbound deals from emerging markets in the second half of last year, according to a new report. During the six-month period, UK companies were involved in 45 inbound, completed deals, up nearly 30 per cent on the first half of the year, KPMG's cross border deals tracker [...]
M&A boom of 2015 may not be over yet: Law firm report adds to Goldman Sachs optimism April 11, 2016 A law firm's report has joined Goldman Sachs in suggesting the mergers and acquisitions (M&A) boom of 2015 may not be over yet. Baker & McKenzie's quarterly cross-border M&A index, released later this week, reports that cross-border M&A has accelerated in the first quarter by eight per cent year on year, with 1,147 deals worth [...]
Wealth management firm Courtiers sets sights on three acquisitions as it aims to take assets under management total to more than £1bn April 11, 2016 Wealth management firm Courtiers has set its sights on three acquisitions to take its total assets under management to £800m. It has agreed a deal for JRH Asset Management, which has around £62m in funds under management. And two more deals, both of which are subject to non-disclosure agreements, are also in the pipeline. Read more: [...]
London Stock Exchange-Deutsche Boerse merger under pressure from Germany, where politicians are worried about Brexit and company being based in UK April 11, 2016 The proposed merger of Deutsche Boerse and the London Stock Exchange is facing increasing political scrutiny – with German politicians now voicing their concerns. Members of the country's ruling Christian Democrats have questioned the wisdom and fairness of the merged organisation being based in the UK – especially if the nation votes for a so-called Brexit. [...]
Goldman Sachs sees M&A “room to run” in 2016, despite global activity dropping after record 2015 April 11, 2016 Goldman Sachs sees "room to run" in mergers and acquisitions (M&A) this year, despite global activity dropping 20 per cent so far in 2016. In a letter to shareholders, chief executive Lloyd Blankfein wrote that equity markets are showing signs of “sustained stabilisation”. And he said Goldman Sachs sees “consolidation opportunities" in industrials, energy, mining, food, media and [...]
The Daily Mail is considering a Yahoo bid – but what’s up for grabs? April 11, 2016 A surprise bidder has emerged in the race for Yahoo's web business. Joining the likes of US giants Google and Verizon and Time Inc, who have all reportedly put their hat in the ring, is the UK's very own Daily Mail. The newspaper's parent company Daily Mail and General Trust Group (DMGT) is in discussion [...]
M&A: Willis Towers Watson merger believed to be able to survive inversion rule changes unscathed April 10, 2016 The announced changes to the US inversion rules will not turn one of the insurance industry's most high-profile mergers on its head, the firm involved announced late last week. Willis Towers Watson, which was formed out of the successful merger of Towers Watson and Willis Group Holdings in January, issued a statement remarking that it did [...]
Marriott and Starwood share prices rise as shareholders approve $12.4bn takeover – bringing the creation of the world’s largest hotel chain one step closer April 8, 2016 Shareholders have approved the $12.4bn (£8.8bn) takeover of Starwood Hotels by Marriott International – meaning the creation of the world's largest hotel chain has just come a step closer. In joint statement today, the pair said shareholders of both companies had approved the merger – with 97 per cent of Marriott shareholders and 95 per [...]