Aon to buy Willis Towers Watson for nearly $30bn in insurance mega-deal March 9, 2020 Aon said today it had agreed to acquire Willis Towers Watson for nearly $30bn (£22.9bn) in an all-stock deal that will create one of the world’s largest insurance brokers. The deal between the two would create a company with a combined value of approximately $80bn. Aon confirmed last year it was in early stage talks [...]
Divestments fail to add value for six consecutive years March 3, 2020 The majority of companies that sold portions of their business last year lost shareholder value, meaning that divestments have failed to add value for six consecutive years. Six out of ten companies that divested part of their business continued to struggle to add value, according to Willis Towers Watsons Divestment Performance Monitor. Based on share [...]
Deal-makers bullish on M&A prospects for the year March 2, 2020 Deal-makers are more bullish about prospects for M&A and capital raising this year than they were at the start of 2019. According to figures from Refinitiv, 47 per cent of deal-makers anticipate M&A volume growth, with an average predicted growth of 4.7 per cent. Asian dealers are more bullish than their American and EMEA counterparts, [...]
Asda: Private equity firms race to buy majority stake March 1, 2020 Private equity firms are vying to buy a majority stake in Asda after its US owner Walmart decided to offload the supermarket following the competition watchdog’s decision to block its merger with Sainsbury’s. US buyout firm Lone Star has reportedly made an offer for a stake in the grocer, with private equity firms Apollo and [...]
London Stock Exchange’s $27bn Refinitiv deal under scrutiny in Brussels February 26, 2020 The London Stock Exchange Group’s $27bn purchase of Refinitiv has reportedly already come under intense scrutiny in Brussels, raising the prospect that EU regulators will initiate a much longer investigation into the deal than had been expected. The two companies are yet to formally notify competition regulators of the deal, which would trigger the review [...]
Countrywide and LSL confirm ‘ongoing’ merger talks February 24, 2020 Estate agent Countrywide has confirmed discussions over a reported £500m merger with rival LSL are “ongoing” after news of the possible tie-up leaked over the weekend. If Countrywide and LSL do tie the knot, they could create the UK’s biggest estate agent company with numerous brands under one umbrella. Countrywide made a brief announcement today [...]
Anglo American profit boosted as it circles Sirius Minerals February 20, 2020 Mining giant Anglo American has reported a strong set of results for 2019. The company saw a nine per cent increase in underlying EBITDA from $9.1bn (£7bn) in 2018 to $10bn at the end of 2019. Anglo American boss Mark Cutifani, said: “We continue building on the fundamental structural and operational improvements we have embedded [...]
Crispin Odey’s firm lashes out at Anglo American’s bid for Sirius February 19, 2020 Crispin Odey’s investment firm has said it will vote against any Anglo American offer for Sirius Minerals that is not designated as “final”. In an email to the management of Sirius and Anglo American, Odey Asset Management said it does not believe that Anglo’s current offer represents fair value for Sirius shareholders. It said it [...]
Struggling mining firm Sirius urged to accept takeover February 18, 2020 The boss of embattled miner Sirius minerals has told shareholders the offer from Anglo American is its only viable way forward. Chief executive Chris Fraser expressed support for the rescue despite Anglo American bidding 5.5p per share for Sirius. Each one being valued valued at 22.4p a year ago. “If the takeover does not go [...]
US private equity funds swoop on UK for cheap deals February 17, 2020 The acquisition of UK companies by US private equity funds jumped 53 per cent last year as the depressed value of UK businesses make them attractive to overseas buyers. The value of UK companies acquired by US funds hit £14.2bn last year, up from £9.3bn in 2018. Brexit and pre-election uncertainty meant UK shares went [...]