Foreign takeovers in the UK hit record levels last year as Megabrew and BG-Shell deals completed March 7, 2017 Foreign takeovers of British companies reached record levels last year as mega-deals announced during 2015 were tied up. In 2016, the Office for National Statistics (ONS) tracked 227 foreign takeovers, the highest annual number since 2011, worth £187.4bn, the highest total value since records began in 1969. These figures were boosted by AB InBev’s £79bn [...]
Mike Ashley wants you to know something about his Agent Provocateur takeover March 7, 2017 Sports Direct founder Mike Ashley's recent foray into frilly knickers may have raised eyebrows – but he wants you to know it wasn't just him who bought the lingerie retailer. In a statement today, Sports Direct clarified the £30m acquisition was made by Four Holdings, a company in which it owns a 25 per cent [...]
Standard Life-Aberdeen deal expected to spark M&A flurry in asset management industry March 6, 2017 Standard Life (SL) and Aberdeen Asset Management’s £11bn merger is expected to prompt a flurry of fund management consolidation, industry experts said yesterday. The companies’ share prices rocketed after they confirmed the terms of their deal, despite City uncertainty over plans for Keith Skeoch and Martin Gilbert to be co-chief executives. Read more: Standard Life [...]
Government cannot intervene to safeguard Vauxhall jobs, say experts March 6, 2017 The UK government is powerless to challenge or influence PSA’s merger with the owner of Vauxhall from a legal perspective, experts have said. The owner of Peugeot and Citroen revealed this morning it had reached an agreement with General Motors (GM) to merge European operations in a deal that values the combined business at €2.2bn [...]
Murdoch Empire 2.0 or socialist witch-hunt? MPs debate Fox-Sky deal as culture secretary decides whether to refer bid to Ofcom March 6, 2017 Rupert Murdoch’s 21st Century Fox is preparing to make its case to culture secretary Karen Bradley as she decides whether to submit the company’s takeover bid for Sky News to broadcast regulator Ofcom. Interested parties have until Wednesday afternoon to submit representations to Bradley. Read more: Government "minded" to scrutinise Fox takeover of Sky After [...]
Standard Life and Aberdeen Asset Management deal: How the City is reacting March 6, 2017 Standard Life and Aberdeen Asset Management have unveiled more details of their planned merger, sending shares in both groups up at the open. Standard Life's stock was up 7.24 per cent at pixel time, while Aberdeen had risen 5.73 per cent. After reports emerged over the weekend, the companies confirmed their intentions to combine this [...]
Standard Life and Aberdeen Asset Management announce merger plans March 6, 2017 Standard Life and Aberdeen Asset Management have agreed terms of a recommended all-share merger. The firms announced the plans to the Stock Exchange this morning, confirming reports of a deal over the weekend. Shares in Standard Life jumped nine per cent at the open, while Aberdeen's stock was up six per cent. Aberdeen shareholders will [...]
Agent Provocateur founder Joe Corre: My brand was “dropped like a pair of dirty knickers” March 6, 2017 Agent Provocateur co-founder Joe Corre has branded the £30m sale of the lingerie retailer “a scandal on many levels”. Corre, the son of iconic fashion designer Vivienne Westwood, said his brand was “dropped like a pair of dirty knickers”. Agent Provocateur was put up for sale by 3i in January. Last week, administrators Alix Partners sold the [...]
Brexit, Isis and attracting entrepreneurs: Just some of the challenges faced by mid-market private equity firm Livingbridge March 6, 2017 Private equity firm Livingbridge will likely be tied to its former name, Isis Equity Partners, for some time to come. In 2014, shortly before turning 20 years old, Isis chose to change its name in light of the rising prominence of its namesake terrorist organisation. “It was kind of fine [prior to 2014],” says Wol [...]
Merger between Standard Life and Aberdeen Asset Management set to create UK’s largest asset manager March 5, 2017 Standard Life and Aberdeen Asset Management are expected to announce detailed plans for their £11bn merger on Monday morning, in a move that will create the second-largest fund manager in Europe. The new £11bn company will have £660bn in combined assets under administration, making it the biggest fund manager in the UK on completion, as [...]