Andrew Tinkler aims to offer rival resolution at crunch Eddie Stobart shareholder vote December 1, 2019 Former Stobart Group boss Andrew Tinkler is aiming to offer Eddie Stobart shareholders a rival funding package to vote on at the struggling trucking firm’s general meeting on Friday. Eddie Stobart’s board has recommended an offer from fund Dbay which would provide an emergency £55m high-interest loan to the haulier in exchange for a 51 [...]
Hedgies in High Court bid to force up Inmarsat takeover price December 1, 2019 The buyout group looking to take British satellite company Inmarsat private is facing a legal challenge from hedge funds that could scupper the deal at the 11th hour. At a hearing on Tuesday hedge funds led by Oaktree Capital will press the High Court to block the approval of the so-called scheme of arrangement, one [...]
Silver Lake pours $500m into Man City owner to break sports group valuation record November 27, 2019 Private equity giant Silver Lake has made a $500m (£389m) investment into Manchester City Football Club’s owners. The cash influx means Abu Dhabi’s City Football Group is now worth $4.8bn, the firms said today, breaking the valuation record for a sports organisation. Read more: Mourinho’s changes spark Spurs comeback to seal last 16 The deal [...]
Broker Finncap reports jump in first half turnover thanks to M&A boost November 25, 2019 Finncap has reported a jump in turnover for the first half amid “very testing market conditions”, with the broker boosted by strong performance of its M&A division. The figures The company reported a jump in turnover of just over 56 per cent in the six months to 30 September. Turnover hit £14.2m during the period, [...]
Ex-Stobart boss courts City heavyweights to back Eddie Stobart rescue bid November 18, 2019 Former Stobart boss Andrew Tinkler is reportedly lining up heavyweight City support for his proposed financing package for struggling haulier Eddie Stobart. City A.M. revealed yesterday that Tinkler was putting together a £75m financing package for the ailing firm and had the backing of 11.8 per cent shareholder the Stobart Group. “Shareholders do take my [...]
Eddie Stobart: Andrew Tinkler says Stobart Group supportive of his proposal to rescue struggling haulier November 17, 2019 Former Stobart Group chief executive Andrew Tinkler said the Stobart Group is supportive of his proposal to save struggling haulier Eddie Stobart, despite the bad blood between the pair. Tinkler told City A.M. that he was putting together a £50m package to save the business and said existing shareholders could raise up to £25m on [...]
Terra Firma on brink of £160m care home deal with Barchester Healthcare November 14, 2019 A portfolio of care homes that private equity boss Guy Hands secured after a fierce legal battle is on the cusp of being sold for £160m. The 24 sites which are owned by Hands’ Terra Firma Capital Partners are close to being sold to care home operator Barchester Healthcare, Sky News reported. The deal would [...]
Luke Johnson hires bankers for Gail’s Bakery sale November 6, 2019 Serial entrepreneur Luke Johnson has reportedly appointed bankers to explore a sale of Gail’s Bakery. Johnson has appointed bankers at Nomura to oversee the sale of Gail’s parent company Bread Holdings, Sky News reported. A sale process is expected to be launched in the next few months with a price tag of £150m, the report [...]
Investment bank in talks for £500m Neil Woodford healthcare portfolio November 4, 2019 A consortium led by a boutique life sciences investment bank is in talks to acquire £500m of healthcare assets bought by former star fund manager Neil Woodford. A WG partners-led consortium is the frontrunner to buy the stakes in roughly 15 companies held by Woodford Investment Management, Sky News reported. The potential deal follows Woodford’s [...]
Fiat Chrysler and Peugeot owner PSA have agreed a merger which could reshape the car industry October 31, 2019 Fiat Chrysler (FCA) and Peugeot owner PSA have agreed to go after a merger which would create a €180bn (£155bn) revenue automotive industry titan. PSA and FCA said they had decided to “work towards” a deal which would give shareholders in each company 50 per cent ownership of the new firm, creating the fourth-largest car [...]