London Stock Exchange and Deutsche Boerse deal: City grandees question proposed merger amid criticisms from UK MPs and German politicians March 28, 2016 City grandees are questioning the proposed merger between the London Stock Exchange Group and Deutsche Boerse, joining politicians in both the UK and Germany who have raised red flags over the deal. Former UK trade minister and Standard Chartered chairman Lord Mervyn Davies told the Financial Times over the weekend that a government “public interest [...]
Global M&A activity tumbles 25 per cent as UK loses its appeal with EU referendum looming March 24, 2016 The UK appears to be losing its mergers and acquisitions (M&A) appeal in 2016. UK-targeted M&A activity has fallen 39 per cent year on year in the first quarter to $45.9bn (£32.6bn), according to a global report from Dealogic. The fall in UK-targeted M&A has been linked to the looming EU referendum and a weakened pound. Read more: EU [...]
Moody’s downgrade for Sysco after US company’s acquisition of London-based food supplier Brakes March 23, 2016 Moody's has downgraded Sysco, citing the US company's acquisition of London-based food supplier Brakes for $3.1bn (£2.2bn). The ratings agency also believes Sysco will use Brakes as a platform to make further acquisitions in Europe in the near future. Sysco's long-term rating has been downgraded from A2 to A3 and short-term from Prime-1 to Prime-2, [...]
“Riskier” European M&A market may mean sellers have to lower prices and heighten risk appetites this year March 23, 2016 Sellers may have to lower their prices and heighten risk appetites in this year's European mergers and acquisitions (M&A) market, according to a new report. Law firm CMS's eighth annual M&A Study found 2015 was a record year for European activity, as was the case across the globe, with more than $5 trillion of deals tracked. But 2016 is “already [...]
MPs call for London Stock Exchange executives to face parliamentary scrutiny over Deutsche Boerse merger: “Are we handing over control to the Germans?” March 23, 2016 MPs have called for London Stock Exchange executives to be called before parliament to answer questions about its proposed merger with Deutsche Boerse. Details of the “merger of equals” were announced last week by the companies. If it goes through, LSE shareholders will own 45.6 per cent of the new company. Shareholders of the Frankfurt-based exchange Deutsche Boerse will [...]
Chinese and Silicon Valley deals set to keep M&A activity high in fintech, e-commerce and other tech industries March 23, 2016 A mergers and acquisitions (M&A) advisory firm has predicted a bright future for activity in the fintech, automotive technology and e-commerce industries. In a series of reports, Hampleton Partners has found M&A activity in these areas has been “growing substantially” over the last 30 months. And movement from China and Silicon Valley is predicted to keep [...]
Apple rules out Imagination Technologies takeover “at this time” after holding talks with UK chip design company March 22, 2016 Apple has decided not to go ahead with an offer for Imagination Technologies after holding talks with the company over a potential takeover. The US technology giant said in a statement: "From time to time, Apple talks with companies about potential acquisitions. "We had some discussions with Imagination, but we do not plan to make [...]
Micro Focus share price rises after UK company announces $540m deal to acquire US firm Serena Software March 22, 2016 UK software company Micro Focus has announced a $540m (£379m) deal to acquire US firm Serena Software. Privately-owned Serena Software is headquartered in California, but is managed from Hillsboro, Oregon, and St Albans in the UK. It also operates in 10 other countries. Serena reported revenues of $176.2m in the year to 31 January 2015 and adjusted [...]
UK M&A activity experiencing a “major pause” due to looming EU referendum, market volatility and weakening pound March 22, 2016 The looming EU referendum, market volatility and the weakening of the pound have contributed to a fall in UK M&A activity, new research has found. Foreign spending on British acquisitions has dipped by nearly a third so far this year, according to Deloitte. Between 1 January and 8 March foreign buyers spent $24.4bn (£17.1bn) on acquiring British [...]
Marriott International and Starwood Hotels & Resorts Worldwide sign off amended merger agreement, with Starwood shareholders now standing to gain a better cash deal March 21, 2016 Hospitality giants Marriott International and Starwood Hotels & Resorts Worldwide today revealed that they had signed off on an amendment to their merger agreement. The new deal revises the value of Starwood shares to $13.6bn (£9.5bn) in total, which is $79.53 per share or $85.36 per share after consideration from separate transaction involving Interval Leisure Group is taken into [...]