Ministers set to face spending watchdog scrutiny over Green Investment Bank sale February 23, 2017 Government ministers are in the glare of Whitehall spending watchdog the National Audit Office (NAO) as the Green Investment Bank privatisation drags on, City A.M. has learned. With Australian investment bank Macquarie hopeful of clinching a deal soon, the government sale has come under intense scrutiny from politicians in recent weeks. MPs, led by the Green Party’s [...]
Investors are preparing to inject more cash into the private equity industry this year February 23, 2017 Investors are planning to increase investments into the private equity this year, meaning further growth in the industry, new research out today found. Some 44 per cent of limited partners (LPs) surveyed by Rede Partners said they intend to deploy more capital this year than in 2016, a record year for fundraising volumes, while 11 per [...]
Theresa May criticised for “non-answer” to Green Investment Bank query at PMQs February 22, 2017 Theresa May was criticised today for providing a “complete non-answer” to questioning about the Green Investment Bank sale. Michelle Thomson, an independent Scottish MP and member of the Business, Energy and Industrial Strategy (BEIS) committee, asked May whether she would reconsider the sale at Prime Minister’s Questions (PMQs). The PM said she would provide a [...]
Bayer confident of finalising Monsanto deal this year after winning Trump backing February 22, 2017 German chemicals firm Bayer is confident of completing its takeover of US seeds company Monsanto this year after apparently winning blessing from US President Donald Trump. Reporting the company’s 2016 results today, Bayer chief executive Werner Baumann said the company was making “good progress” with the deal. Read more: You're the Bayer for us: Monsanto [...]
This isn’t an M&A bubble: It’s the start of an unprecedented boom February 22, 2017 After a blistering final quarter of 2016, the first few weeks of 2017 have seen dealmakers continue to mine a rich seam of M&A, with big ticket transactions including Tesco’s acquisition of Booker and Reckitt Benckiser’s bid for Mead Johnson hitting headlines in the UK, and Luxottica and Essilor’s €50bn (£42.4bn) merger among many others [...]
Germany emerges as main concern for London Stock Exchange and Deutsche Boerse as UK government appears unopposed to merger February 21, 2017 German opposition to the London Stock Exchange’s tie-up with Deutsche Boerse is fast emerging as the main area of concern for the companies, given the UK government and European Commission are seemingly on board. Deutsche Boerse’s chief executive, Carsten Kengeter, is to host local German politicians at an exclusive venue in the state of Hesse [...]
Private equity houses battle it out for £500m UK IT services firm Claranet February 21, 2017 Private equity houses Blackstone and Inflexion are battling it out for a stake in a £500m-valued British IT services company, City A.M. has learned. US-based private equity firm Abry Partners is in the process of selling Claranet, which it invested in in 2012. Read more: Private equity giant buys majority stake in London cloud tech company [...]
UK politicians to have their say on London Stock Exchange-Deutsche Boerse deal February 20, 2017 British MPs are set to crank up the pressure on the London Stock Exchange over its merger with Deutsche Boerse tomorrow. Conservative MP Sir Bill Cash has secured a parliamentary debate for tomorrow discussing the future of the London Stock Exchange and exploring whether the deal could be blocked. Read more: Deutsche Boerse boss attempts [...]
Kraft Heinz’s withdrawn Unilever bid ranks as the world’s third largest collapsed M&A deal February 20, 2017 Kraft Heinz’s scrapped $140bn (£113bn) bid for Unilever marks the third biggest M&A collapse in history, according to Thomson Reuters figures. US food giant Kraft shocked the financial world on Sunday night, withdrawing the bid just two days after details of the deal leaked. Read more: Unilever share price plunges after deal talks with Kraft [...]
Why is M&A rising? The bigger the company, the more likely it is to survive February 20, 2017 Investor sentiment is still skyrocketing as Donald Trump continues his victory lap and investors revel in the fanfare. The markets are behaving as though the White House’s as-yet-undetailed economic policies will cure all ills, from the simmering uncertainty around French, Dutch and German elections to the biggest pain for chief executives – technology disruption. The [...]