Energy M&A powers into the record books: Deal activity jumps by over a third in 2017 February 13, 2017 Energy and power M&A activity is at an all-time high at the start of 2017, with nearly $66bn (£53bn) of deals announced this year. Deal activity is 36 per cent higher in the sector compared with the same period last year and the best start to a calendar year since records began in the 1980s, according to Thomson [...]
The Only Way is Ethics: L’Oreal and the mission-led challenge February 10, 2017 Barely a decade after its purchase of ethical retail flagbearer, The Body Shop, L’Oreal has announced its intention to sell the company. With profits sharply decreasing by 38 per cent in the year ending 31 December 2016, the business has faced increased competition from mainstream and ethical competitors, such as Lush, leaving some customers alienated [...]
Lurpak container maker aims to spread business globally with £500m US takeover February 9, 2017 UK packaging firm RPC Group’s shares dropped six per cent today after it announced a $640m (£511m) US acquisition. RPC, which makes containers for the likes of Lurpak butter, Philadelphia cheese and Dulux paint, has agreed to buy plastic food-packaging products firm Letica Group. Read more: RSA shares rise at the open as it disposes [...]
Locals lose out as Severn Trent’s Dee Valley Water takeover gets the go-ahead from the High Court February 8, 2017 Locals' attempts to thwart the takeover of a Welsh water company have failed after Severn Trent's bid to pick up Dee Valley Water has been given the go-ahead in the High Court. The court decided the £84m deal by the FTSE 100 firm, initially agreed on back in November, could go ahead. However, it adjourned until 10 [...]
London Stock Exchange and Deutsche Boerse confident European regulators will wave through £21bn mega merger February 8, 2017 The London Stock Exchange (LSE) moved one step closer to its £21bn mega-merger with German exchange Deutsche Boerse yesterday, formally submitting concessions to competition regulators in Brussels. The offer goes little beyond the LSE’s sale of its French clearing unit LCH SA to Euronext. However, both exchanges are confident the submission will be enough to [...]
Ascential buy: FTSE 250 media company behind Cannes Lions festival buys $69m US firm February 7, 2017 Ascential, the FTSE 250-listed media company formerly known as Emap, has agreed to buy US advisory and business services group MediaLink. The company behind the Cannes Lions advertising festival has agreed an initial cash consideration for MediaLink of $69m (£55m) plus future earnouts. The target company, which was founded in 2003 and has four offices [...]
Advisers on London Stock Exchange-Deutsche Boerse deal could rake in up to £305m February 7, 2017 The London Stock Exchange and Deutsche Boerse could pay up to £305m between them to bankers, lawyers, accountants and PRs working on their merger. The top-end estimate was revised up today from £234m in light of an extended probe by the European Commission into the deal. Credit Suisse analysts noted today: We believe merger related [...]
Deutsche Boerse board expresses “full confidence” in chief executive Carsten Kengeter amid insider trading probe February 7, 2017 Deutsche Boerse chief executive Carsten Kengeter has the “full confidence” of his board amid an insider trading probe relating to the company’s merger with the London Stock Exchange. The company’s supervisory board met yesterday to discuss the allegations against Kengeter “thoroughly and intensely”, Deutsche Boerse said. Read more: Spotlight falls on LSE-Deutsche Boerse merger: Who knew [...]
Heineken closes in on Punch Taverns as its investment vehicle buys 28 per cent stake February 6, 2017 Heineken has moved a step closer to completing its acquisition of Punch Taverns after its investment vehicle bought a significant stake in the British pub chain group. The Dutch brewer announced today that Vine Acquisitions, the vehicle it shares with partner Patron Capital, built up its share in the company to 28.5 per cent on Friday [...]
Government kicks off next stage of £12bn student loanbook sell-off February 6, 2017 The government formally kicked off the next stage of its bid to sell £12bn-worth of student loans today. City A.M. revealed bankers from Barclays had been appointed to advise on the deal last month. Read more: Bankers appointed by government for latest student loans sell-off push The sale, which is being structured as a securitisation, is being [...]