Packaging firm DS Smith sells plastics division to US private equity firm Olympus Partners in $585m deal March 6, 2019 Packaging company DS Smith has sold its plastics division to US private equity firm Olympus Partners for $585m (£445m). The sale is part of the London-headquartered firm’s strategy to shift towards sustainable packaging, the company announced in a trading update today. Read more: Rupert Soames joins board at DS Smith The move will address investor concerns [...]
Bauer Media acquires ten regional radio stations amid competition probe March 5, 2019 Bauer Media has snapped up a further ten regional radio stations as it faces a competition probe into its spate of acquisitions earlier in the year. The media giant today said it has bought UKRD Group, which owns stations across Yorkshire, East Anglia, the south and the south west of England. Read more: Bauer Media [...]
Domestic M&A deal value reaches decade high in 2018 despite Brexit uncertainty March 5, 2019 Domestic merger and acquisition (M&A) value hit a ten-year high in 2018 despite Brexit uncertainty, according to the latest data. Acquisitions of UK companies by other UK firms rose from £18.8bn in 2017 to £26.5bn last year, the highest value since deals reached £36.5bn in 2008, research from the Office for National Statistics (ONS) found. [...]
Nasdaq improves offer for Norwegian stock exchange Oslo Bors as bidding battle intensifies March 4, 2019 Nasdaq has boosted its offer for Norwegian stock exchange Oslo Bors as it seeks to outbid rival Euronext. The US exchange said today it had increased its offer from 152 Norwegian kroner to 158 Norwegian kroner, valuing the business at roughly 6.8bn Norwegian krone (£600m). The move matches an offer from European rival Euronext which [...]
Brexit uncertainty sparks public to private takeover trend February 27, 2019 Brexit uncertainty has sparked private equity fund interest in UK take-private transactions, new research shows. Of the 42 firm offers for UK public companies last year 31 per cent were made by private equity, analysis by investment bank Jefferies shows. Read more: Why tech startups are snubbing IPOs Public to private deals completed in 2018 [...]
Credit check service Experian abandons £275m Clearscore merger after watchdog investigation February 27, 2019 Experian has backed down over its £275m merger with credit rating checker rival Clearscore after a watchdog warned it could harm competition in the sector. The firm said it did not believe the Competition and Markets Authority (CMA) would approve the acquisition of the rival and has decided to abandon the proposal. Read more: Experian reports [...]
Private equity player KKR reportedly circling Asda following Sainsbury’s deal setback February 24, 2019 US private equity house KKR is reportedly mulling a bid for Asda after a ruling last week by the competition regulator that could stymie its proposed tie-up with fellow big four supermarket Sainsbury’s. The Competition and Markets Authority (CMA) said last week that a deal between the two supermarkets could lead to "a substantial lessening [...]
Flybe completes sale to Virgin-led consortium after dramatic last-minute challenger bid February 21, 2019 Struggling regional airline Flybe has completed the sale of its assets to a consortium of buyers led by Virgin Atlantic. Flybe confirmed it has sold its assets and operations for £2.8m to Connect Airways, an investor group consisting of Virgin Atlantic, Stobart and hedge fund Cyrus Capital. The deal comes just days after it emerged [...]
UK bags Europe’s M&A top spot with $247bn of deals in 2018 as TMT mergers grow February 19, 2019 The UK enjoyed the highest value of M&A deals in Europe last year as telecoms and media takeovers spiked. High value purchases like Comcast’s $39bn purchase of Sky pushed mergers involving UK companies to $247bn in 2018, data compiled by law firm Clifford Chance found. Read more: Watchdog delays final report on Sainsbury's-Asda merger Both domestic and [...]
Berry Global gets deadline to hijack Apollo’s RPC Group takeover February 19, 2019 Berry Global, the US firm trying to hijack an agreed £3.3bn takeover of plastic packaging giant RPC Group, has been given a 13 March deadline to announce a concrete intention to make a counter offer. RPC accepted an offer in January by private equity firm Apollo Global Management after months of negotiations. But Berry, another [...]