Vroom vroom: Private equity house announces second acquisition in two days December 14, 2016 A private equity group has announced its second acquisition in two days, today taking a majority stake in a British vehicle hire company. Equistone Partners Europe has bought TOM Vehicle Rental, investing alongside management and the company founder-owner. Read more: Majority steak acquired: Is this the meatiest private equity deal of 2016? TOM was founded in 1991 [...]
EXCLUSIVE: Punch Taverns at centre of takeover battle as entrepreneur bids 185p per share December 14, 2016 Punch Taverns is set to become the focus of a bid battle between Heineken and Alan McIntosh, a wealthy entrepreneur who was one of the company's founders. McIntosh has bid 185p a share for the pub company, City A.M. revealed today. Heineken has made an approach of 174p a share for the company. Punch Taverns issued a statement saying: The [...]
More pressure on Fox-Sky deal as pensions lobby group wades in December 13, 2016 Rupert Murdoch’s proposed Sky takeover came under further scrutiny today as a pensions lobby group stressed the need for an appropriate premium to be paid for the business. Murdoch’s 21st Century Fox is expected to make a firm £10.75-per-share cash bid for the 61 per cent of Sky it does not already own before the end [...]
You’re the Bayer for us: Monsanto shareholders give nod to $66bn German takeover December 13, 2016 One of the biggest deals announced in 2016 came a step closer to completion today. Shareholders of US seeds company Monsanto gave their backing to a $66bn (£52bn) takeover by German chemicals firm Bayer. Read more: Monsanto tries to dispel seeds of doubt over Bayer tie-up as losses narrow Monsanto said that on a preliminary [...]
The meatiest deal of 2016? Private equity firm buys majority steak in Dutch butcher December 13, 2016 A European private equity group has announced a meaty new acquisition. Equistone Partners Europe has bought a majority stake in Group of Butchers alongside the Dutch firm’s current management. Founded in 1997 under the name Dutch Grill Specialities and headquartered in Tilburg, Group of Butchers is a producer of high-end meat products sold at supermarkets [...]
Private equity giant Advent to sell remaining stake in Equiniti December 12, 2016 Private equity giant Advent International is expected to announce the sale of its remaining stake in investor services firm Equiniti tomorrow morning. The share registrar floated on the London Stock Exchange in October 2015 and Advent is in the process of selling its remaining eight per cent stake through an accelerated bookbuild. Read more: TGI Friday: [...]
Fox set to make formal cash bid for Sky this week amid scrutiny from investors and politicians December 12, 2016 Rupert Murdoch’s 21st Century Fox is set to push ahead with a formal £10.75-per-share cash offer for Sky this week amid discontent from certain shareholders and politicians. The bid, to increase Fox’s shareholding in Sky from 39 per cent to 100 per cent, values the broadcaster at around £18.5bn. Sky shareholder Standard Life, which has a [...]
EU regulator set to focus on derivatives clearing in exchange merger probe December 12, 2016 EU competition regulators probing the London Stock Exchange’s (LSE) merger with Deutsche Boerse are set to narrow their focus on derivatives clearing this week. And, with the European Commission’s statement of objections due in the coming days, City A.M. understands the LSE is seeking to push through the sale of its French clearing business, LCH [...]
Another British tech firm has been bought by a foreign company December 12, 2016 Shares in e2v, the British tech firm which supplies imaging sensors that help the Hubble space telescope and the Mars Curiosity Rover take pictures, have jumped almost 50 per cent after agreeing a £620m sale to US-based Teledyne. In the latest example of a US firm being snapped up by a foreign company, the conglomerate [...]
Standard Life adds to pressure on Sky to demand more from Murdoch’s Fox December 12, 2016 Sky is coming under increasing pressure to push for a higher takeover bid from Rupert Murdoch’s 21st Century Fox. The two companies said at the end of last week that they had reached a deal in principle at £10.75 per share for Fox to acquire the 61 per cent of Sky it does not currently [...]