London Stock Exchange to buy €278.5m stake in Euroclear January 30, 2019 The London Stock Exchange (LSE) has expanded its reach in Europe with an agreement today to acquire a nearly five per cent stake in clearing house Euroclear. The LSE said today it will buy an aggregate 4.92 per cent stake in Euroclear’s share capital for €278.5m (£241.9 million). Brussels-based Euroclear provides settlement, custody and collateral management [...]
US-China trade war greater threat to M&A deals than Brexit, survey finds January 29, 2019 The trade war between the US and China is a greater risk to merger and acquisition (M&A) activity this year than Brexit, according to research published today. A total of 50 per cent of senior global M&A professionals viewed the trade tensions, rising tariffs and potential subsequent erosion of global GDP as the biggest emerging business [...]
City broker Shore Capital closes in on deal to buy rival Stockdale Securities January 27, 2019 City stockbroker Shore Capital Markets is set to complete a deal to buy rival Stockdale Securities in the next few weeks. The firms are in advanced talks for Shore Capital to purchase Stockdale for an undisclosed multi-million pound figure, Sky News reported, creating the second largest broker to clients on London’s Aim market. Sky News [...]
Private equity buyout deals soar more than 50 per cent in pre-Brexit rush January 24, 2019 Private equity buyout deals were up more than 50 per cent in the fourth quarter of last year driven by the pressure to complete agreements ahead of Brexit. Analysis of UK mid-market activity showed that the figure was 56 per cent higher that the fourth quarter of 2017, and activity levels hit a 10-year high. [...]
Santander cancels appointment of Orcel over compensation January 15, 2019 Banco Santander stunned the banking world this evening by announcing the reversal of its decision to appoint Andrea Orcel as its new chief executive because of the cost of compensating him for leaving his previous role. The bank had announced the high profile appointment of Orcel, former head of investment banking at UBS, in September. [...]
Budget airline Flybe shares nosedive despite revised bid from Virgin-led consortium January 15, 2019 Flybe shares nosedived again this morning as shareholders reacted to news they will not get a vote on a revised bid for the business from a Virgin-led consortium. Virgin Atlantic, Stobart Group and US private equity firm Cyrus Capital tabled a £2.8m bid for Flybe Limited and Flybe.com today after Friday’s £2.2m offer for the whole [...]
Activist shareholders step up pressure on UK boards January 13, 2019 Shareholder activism increased sharply in the UK last year as investors launched campaigns at 25 companies, spending $7.35bn (£5.72bn) on shares. Elliott Advisors was the most prolific activist investor, launching 22 new campaigns worldwide, according to research by the investment bank Lazard. Elliott led a campaign that prompted UK retailer Whitbread to offload Costa Coffee to Coca-Cola [...]
Rathbones Brothers inflows up after Speirs & Jeffrey acquisition January 10, 2019 Funds under management at Rathbone Brothers investment management were up 13.9 per cent per cent last year after being boosted by the acquisition of wealth manager Speirs & Jeffrey. Funds hit £38.5bn at the end of December last year, up from £33.8bn the previous year, including £6.4bn of funds related to the acquisition. However, in the [...]
UK tipped to remain attractive location for M&A in 2019 after deal value surged in 2018 January 9, 2019 The UK has been tipped to remain one of the most popular locations for M&A in 2019 after the value of deals with a UK target in 2018 surged 40 per cent to £413bn. Research published today by Willis Towers Watson and Cass Business School showed that globally 2018 was the worst year for shareholder [...]
UK M&A value soars by more than a quarter in 2018 as number of mega-deals increases January 3, 2019 The value of merger and acquisitions involving UK companies soared by more than a quarter last year as the number of mega-deals surged. Deal activity reached a three year high in 2018, while M&A activity involving UK firms hit £359.9bn which is 28 per cent more than the value recorded in 2017, according to data [...]