Ready, Aim, acquire: Junior market takeovers boosted by fall of sterling in 2016 January 3, 2017 Takeovers of companies listed on London’s junior market jumped by a fifth in 2016, new analysis out today shows. Over the year, 34 companies on the Alternative Investment Market (Aim) were snapped up, an increase from 28 in 2015, according to accountancy group UHY Hacker Young. Aim companies proved particularly attractive in the last quarter [...]
Euronext has confirmed a €510m offer for LSEG’s French clearing house January 3, 2017 The London Stock Exchange Group today took a significant step in its attempts to complete its mega-merger with Deutsche Boerse, agreeing the sale of its French clearing business. Euronext, the owner of four of Europe's largest stock exchanges, confirmed it has agreed a €510m (£434m) deal for LCH SA, which the LSEG put up for [...]
London Stock Exchange poised to announce crucial sale of French clearing arm January 2, 2017 The London Stock Exchange Group is likely to announce the sale of its French clearing arm this week, City A.M. understands. The exchange entered exclusive talks with pan-European rival Euronext shortly before Christmas and the parties are understood to be nearing a deal worth around €500m (£425m). Read more: London Stock Exchange enters exclusive talks [...]
Tullett Prebon just completed the buyout of Nex’s voice broking business December 30, 2016 Broking giant Tullett Prebon has just managed to sneak in a final deal in 2016: completion of its buyout of the voice-broking arm of Nex. In a statement this morning Tullett Prebon said it had completed its acquisition of the business under an all-share deal worth £1.28bn. The deal will give Nex shareholders a 56 per cent stake in the [...]
FTSE 100 private equity firm lands Belfast City Airport in Eiser deal December 22, 2016 FTSE 100 private equity group 3i has announced a deal to acquire Belfast City Airport. The company has agreed to buy a portfolio of assets, also including East Surrey Pipelines, from the Eiser Global Infrastructure Fund. Read more: 3i sells debt management business to InvestCorp The acquisition also includes a stake in Italian waste treatment and [...]
Deutsche Boerse boss defends London HQ of merged stock exchange amid political pressure in Germany December 21, 2016 The chief executive of Deutsche Boerse has played down the significance of the proposed UK headquarters of its merged company with the London Stock Exchange amid political pressure in Germany. The two exchange companies are seeking to tie-up their £21bn merger in the first half of next year and are currently trying to win regulatory [...]
Government set to wave through international takeover of National Grid gas network December 20, 2016 The government is set to wave through the sale of the National Grid’s gas network to an international consortium, City A.M. has learned. CIC Capital, a subsidiary of China’s sovereign wealth fund, the Qatar Investment Authority (QIA) and Australian investment bank Macquarie were among the successful bidders for a 61 per cent stake in the [...]
Good chemistry: Germany’s Linde and US firm Praxair agree terms of $65bn merger December 20, 2016 Two chemical giants are nearing a $65bn (£53bn) mega-merger. Germany’s Linde today said it had agreed a “non-binding term sheet” with US firm Praxair. Under the deal, a new holding company bearing Linde’s name would be created. But the firms said the deal would represent a “merger of equals”. It marks the second German-US mega-deal of [...]
London Stock Exchange enters into exclusive talks with Euronext over sale of French clearing business December 20, 2016 The London Stock Exchange Group has entered into exclusive discussions with rival Euronext over the sale of its French clearing business. And the deal for LCH SA, which could be crucial to the success of the London Stock Exchange’s mega-merger with Deutsche Boerse, could still be agreed this side of Christmas, City A.M. understands. The London Stock [...]
After subdued 2016, contrained by Brexit and Trump, these bankers are predicting a 2017 bounceback for UK M&A December 19, 2016 Despite mega-deals involving the London Stock Exchange, Arm Holdings, Sky and a big takeover approach from British American Tobacco (BAT), even the most optimistic M&A banker would concede it’s been a somewhat subdued year for UK deals. After a record 2015, a year in which Megabrew was finally agreed and Anglo-Dutch oil major Shell tied [...]