Number of private equity takeovers of UK businesses falls 12 per cent September 16, 2019 The number of private equity acquisitions of UK businesses has fallen 12 per cent this year, from 311 in 2017/18 to 274 in 2018/19, according to data from law firm Mayer Brown. The firm’s corporate co-head Perry Yam said private equity fund managers were delaying investments pending the outcome of Brexit. However, the value of [...]
Sajid Javid could block Hong Kong bid for London Stock Exchange September 13, 2019 Chancellor Sajid Javid is set to decide on whether or not to block a £32bn bid from Hong Kong for the London Stock Exchange as a government intervention appears imminent. Javid is reportedly mulling whether to step in on public interest grounds, citing national security and financial stability risks after the Hong Kong Stock Exchange [...]
Analysis: Could HKEX’s shock £32bn grab for London Stock Exchange actually succeed? September 11, 2019 Talk about a blockbuster day in the City. Investors expecting a quiet morning were caught off guard when the London Stock Exchange received a shock £32bn offer from Hong Kong Exchanges and Clearing (HKEX). Read more: Hong Kong bourse makes audacious £32bn offer for London Stock Exchange The bid, which puts the LSE’s own £20bn acquisition [...]
Cobham shareholder comes out against £4bn takeover deal by US private equity firm September 10, 2019 The furore surrounding aerospace stalwart Cobham’s controversial £4bn takeover by a US private equity group shifted up a gear today, as one of its top shareholders rebuffed the plan. Sanderson Asset Management, an investment firm operating out of London and Chicago, which is Cobham’s 11th largest shareholder, has written to the FTSE 250 company’s founding [...]
Eddie Stobart says it has received buyout interest from Dbay Advisors September 9, 2019 Troubled trucking company Eddie Stobart said today it had received a preliminary approach about a possible acquisition by its third-largest shareholder Dbay Advisors. Last month Eddie Stobart suspended its shares and announced its chief executive Alex Laffey was standing down with immediate effect after it discovered a multi-million pound accounting error. Read more: Eddie Stobart [...]
Second shareholder adviser backs Cobham £4bn private equity takeover September 5, 2019 Another influential shareholder adviser Glass Lewis has recommended Cobham shareholders back the company’s £4bn takeover by Advent International, after Institutional Shareholder Services (ISS) said the same two days ago. Glass Lewis is the second-most prominent advisory service in the world behind ISS, and has told shareholders to choose the “‘bird in the hand’, in this [...]
Brexit bargains: Foreign buyers snap up UK companies in M&A frenzy September 3, 2019 The value of foreign takeover deals in the UK have jumped over the last quarter, nearly doubling on the previous three-month period after several notable mergers were inked in the City. Read more: UK M&A deal values more than halve amid global tensions Inward mergers and acquisitions, whereby an overseas company acquires a UK firm, [...]
Daily Mail-owner DMGT sells energy data business for $364m August 26, 2019 Daily-Mail owner DMGT said today it has agreed to sell its energy information business in a $364m (£297m) deal. DMGT said it had agreed to sell Genscape to Nasdaq-listed data analytics provider Verisk. Genscape will become part of Verisk’s Wood Mackenzie business which focuses on short-term energy data and analytics. DMGT said it expected the [...]
Hasbro swoops on Peppa Pig-maker Entertainment One in $4bn deal August 22, 2019 US toy giant Hasbro is set to snap up London-listed Peppa Pig-maker Entertainment One in a $4bn (£3.3bn) deal. The two companies said tonight they had agreed an all-cash deal with Entertainment One shareholders to receive £5.60 in cash for each share. The deal marks a 31 per cent premium to Entertainment One’s 30-day average [...]
Thyssenkrupp pushes back against EU’s steel merger block August 22, 2019 Thyssenkrupp has filed a complaint against regulators after they blocked a joint venture with Tata Steel earlier in the summer. The German steel making giant is disputing the antitrust decision by the European Commission to veto its plans to forge Europe’s second-biggest steelmaker over fears it would reduce competition. Read more: Thyssenkrupp issues another profit [...]