Schroders plans to support the Restaurant Group’s proposed £600m Wagamama deal November 23, 2018 Schroders, a top 10 shareholder in the Restaurant Group, has come out in support of the Frankie and Bennies owner’s acquisition of Wagamama. It comes as several major investors announced they would oppose the deal at a meeting next week, saying the £600m price tag is too steep. Schroders fund manager Andy Brough said: “The [...]
Greater government powers over takeover deals could be used for political purposes, critics warn November 21, 2018 Leading investors, trade bodies, lawyers and banks have criticised proposals to give the government greater powers to intervene in mergers and acquisitions (M&A), raising concerns that new rules could be exploited for political purposes. The proposals would give officials greater scope to scrutinise deals on security grounds. A senior minister could call-in any merger, acquisition or [...]
City veterans launch new corporate finance boutique November 19, 2018 A former board member of investment bank Zeus Capital is today launching a corporate finance boutique alongside a senior executive from Nex Exchange. The new firm, Guild Financial Advisory, will advise companies on initial public offerings (IPOs), fund raising, deals and corporate governance. Its chief executive Ross Andrews previously spent eight years with Zeus where he [...]
UK’s largest private firm Ineos agrees $1.1bn deal for boatbuilding supply business November 15, 2018 The UK’s largest privately owned firm Ineos has signed a $1.1bn (£850m) deal to buy the composite business of Ashland Global Holdings, which produces composite resins for use in boat building. Ineos, which was founded by the UK’s richest man Jim Ratcliffe, has acquired Ashland’s 20 manufacturing sites in Europe, North and South America and the [...]
Shake up at Dirty Martini as owners appoint advisers for possible sale November 11, 2018 The group that runs the Dirty Martini chain of cocktail bars confirmed today it had appointed advisers to examine a sale. CG Restaurants said it had “received a number of unsolicited approaches, which are being considered in the context of delivering best value to our shareholders.” It also said: “This may or not result in [...]
Pepsico’s Pipers deal adds to record year for US acquisitions of UK firms November 6, 2018 Pepsico swooped on premium British crisp brand Pipers today adding to a bumper year for US acquisitions of UK firms, with deals already hitting a record $87bn (£66.4bn). The value of acquisitions has surged by a whopping $57bn since last year, according to figures compiled by Dealogic. The record figure does not include the undisclosed value [...]
The Co-op could offload its insurance arm in a £300m deal November 5, 2018 The Co-op Group is reportedly in talks to sell its insurance business to underwriter Markerstudy Group in what would be a £300m deal. According to Sky News the talks between the two companies are at an advanced stage, though no decision has been taken be either side on whether to proceed with the deal. Sky [...]
RPC extends deadline again for private equity suitors November 5, 2018 FTSE 250 packaging company RPC today said it had asked regulators to extend the deadline for two potential private equity bidders to make a firm offer for the company. Plastics maker RPC had previously announced that it was in discussions with private equity firms Apollo Global Management and Bain Capital. Under takeover rules the pair [...]
TP Icap in advanced talks to buy US broker Axiom Commodity Group October 31, 2018 TP Icap is in talks to buy US energy broker Axiom Commodities Group, with a multi-million pound deal expected to be signed as soon as this week. The news that TP Icap is to acquire its smaller rival comes as the world’s largest energy broker prepares to publish its third quarter statement on Friday – the [...]
William Hill makes £242m offer for Swedish gaming company in Brexit hub move October 31, 2018 Bookmaker William Hill has today announced a recommended cash offer of £242m for Swedish gaming company Mr Green & Co as it prepares for Brexit. William Hill’s shares jumped nearly six per cent following the announcement while shares in Mr Green soared nearly 48 per cent to 68.5 Swedish krona, just short the offer price [...]