Struggling mattress start-ups Eve Sleep and Simba confirm merger talks August 12, 2019 Mattress start-ups Eve Sleep and Simba confirmed today they are in talks to merge. The two businesses have struggled recently with Woodford-backed Eve suffering a share crash after investors were offered shares at a steep discount during a £15m funding round in December. Read more: Eve Sleep shares plummet after investors buy in for a [...]
Thomas Cook shares plunge on fresh funding talks as it nears Fosun tie-up August 12, 2019 Thomas Cook shares plummeted this morning as investors digested the news the tour operator is in advanced discussions with bond holders for a £150m cash injection, on top of the £750m rescue deal it is already working on with lead investor Fosun, which would nearly wipe out shareholders. The company’s market value dropped 17 per [...]
Scrapped: Guy Hands ‘pulls out of takeover plans’ for German Cartonplast August 8, 2019 Private equity magnate Guy Hands is said to have abandoned takeover plans for a European packaging business. His firm, Terra Firma Capital Partners, has withdrawn from negotiations to buy German packaging company Cartonplast, according to Sky News. The withdrawal raises questions about the ability of one of the most prominent British financiers to land fresh [...]
Cobham founding family says takeover ‘against national interest’ August 4, 2019 The founding family of British defence firm Cobham has asked the government to intervene in the £4bn takeover of the company by US private equity giant Advent International. Lady Nadine Cobham has reportedly written to defence secretary Ben Wallace and business secretary Andrea Leadsom urging them to block the deal, saying the takeover could threaten [...]
Satellite firm Inmarsat ditches dividend ahead of $3.4bn private equity takeover August 1, 2019 Satellite company Inmarsat ditched its dividend today despite narrowing losses. The UK firm said it was not declaring an interim dividend, having declared a dividend of eight cents per share in the same period last year. The company said it was cutting its dividend in the light of the announcement of its proposed $3.4bn (£2.8bn) [...]
Hammerson makes £423m sale but retail troubles take a chunk out of income July 29, 2019 Hammerson this morning announced it has sold a 75 per cent stake in Parisian shopping centre Italie Deux for £423m. The retail property giant said the deal with Axa Investment Managers brought it to more than 90 per cent of its annual £500m disposal target. Hammerson also released its half-year results this morning. It reported [...]
FTSE 250-listed Cobham’s share price soars as it agrees £4bn deal to escape the public eye July 25, 2019 Engineering firm Cobham’s shares rocketed this morning as it agreed to a £4bn take-private deal by private equity giant Advent International. Shareholders stand to receive 165p per share in the acquisition, a premium of 34.4 per cent on yesterday’s close price of 122.75p. Read more: Defence contractor Cobham finally reinstates its dividend David Lockwood, the [...]
Symantec shares plummet as Broadcom deal talks ‘break down’ July 15, 2019 Symantec shares have plummeted in pre market trading after reports negotiations over a possible takeover by chip-making giant Broadcom had broken down. The US-listed firm’s stock fell 14 per cent before markets opened this afternoon. Symantec shares had surged earlier this month after it emerged Broadcom was close to acquiring the security software company. But [...]
Thomas Cook: How did it end up like this? July 12, 2019 Companies in the travel industry have endured a turbulent year – and none more than Thomas Cook. Read more: Thomas Cook shares plunge to record low as investors face being wiped out The embattled firm this morning said it is closing in on a bailout deal which would see Chinese firm Fosun give it £750m [...]
Thomas Cook shares hit record low amid £750m takeover talks with Fosun July 12, 2019 Thomas Cook’s shares sunk to their lowest price ever this morning as it confirmed it is in advanced talks with Fosun over a proposed £750m deal which would give the Chinese firm majority ownership over its tour operator business. Read more: Thomas Cook engages in Fosun talks to save company The deal would also give [...]