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 [...]
Gordon Dadds agrees Ince merger to create UK’s largest listed law firm October 29, 2018 Gordon Dadds has agreed a merger with Ince to create the UK’s largest listed law firm. Following the merger, which was revealed by City AM last month, the firm will have a combined revenue of more than £110m, with 100 partners and offices in nine countries. The business, which will be renamed Ince Gordon Dadds, [...]
Finncap brushes off market negativity to launch surprise takeover of Cavendish October 24, 2018 City broker Finncap, chaired by veteran venture capitalist Jon Moulton, today confirmed it was taking over M&A sell-side advisory firm Cavendish. Finncap plans to raise £6m by floating the combined group on London's junior alternative investment market (Aim) in early December in a listing that will value it at £46m. Lord Leigh, former Conservative Party treasurer [...]
Interactive Investor set to pay £40m for Alliance Trust Savings October 22, 2018 Interactive Investor, the UK's second largest investment platform, has bought rival Alliance Trust Savings in a £40m deal. After the sale the combined business will have £35bn assets under management and the deal includes the sale of Alliance Trust's headquarters in Dundee. Read more: Investment platform AJ Bell boosts customers ahead of float London-based Interactive Investor is majority [...]
Canadian pension fund circles Gatwick as deal nears October 20, 2018 A Canadian pension fund is preparing a bid for a stake in Gatwick Airport which could be worth £3bn, Sky News reports. Canada Pension Plan Investment Board is reportedly part of a consortium in talks to buy out Global Infrastructure Partners, Gatwick’s largest shareholder, in a deal that could be valued at £3bn. Sky reports [...]
Competition watchdog launches probe into merger between Cambian and Caretech October 19, 2018 The competition watchdog has launched an inquiry into the £375m buyout of children services provider Cambian Group by social care firm Caretech. An initial enforcement order, published today, prevents the companies from taking any further steps in the merger process that could affect later stages of the investigation. The businesses must stay separate and distinct during the process [...]
London Stock Exchange delivers strong results as it boosts holding in clearing house LCH October 19, 2018 The London Stock Exchange Group (LSE) grew revenue five per cent in the third quarter it said today as it announced a further £384m investment in clearing house LCH Group Holdings. In the quarter to 30 September LSE’s total revenue grew to £464m while its total income expanded eight per cent compared to the same [...]
Fujifilm scores big win against US activist investors blocking Xerox merger October 17, 2018 Fujifilm has won a court battle in its doomed bid for Xerox after an investor blocked a merger between the two companies. A New York court overturned preliminary injunctions requested by Darwin Deason, an investor who sold his Affiliated Computer Services to Xerox for $6.4bn in 2010. Deason and activist investor Carl Icahn, who between [...]