US boutique banks Perella Weinberg and Tudor, Pickering, Holt and Co announce merger November 14, 2016 Two high-profile US boutique investment banks, Perella Weinberg and Tudor, Pickering, Holt and Co (TPH), have agreed a merger. Perella, the lead adviser to Deutsche Boerse for its £21bn merger with the London Stock Exchange, said the deal is expected to close this year. Read more: LSE and Deutsche Boerse: Behind the deal The combined [...]
Johnston Press confirms late-stage discussions to sell East Anglia papers November 14, 2016 Newspaper publisher Johnston Press has confirmed it is in late-stage discussions to sell a stable of newspapers in East Anglia to a rival group. Johnston Press, which bought the i newspaper earlier this year and also publishes the Scotsman and Yorkshire Post, is in the process of selling off some of its non-core titles. Read more: [...]
UK-listed Greencore announces $750m deal for US frozen breakfast sandwich maker Peacock Foods November 14, 2016 Food supplier Greencore Group has agreed a $747.5m (£594.3m) takeover deal for Peacock Foods, a US company specialising in frozen breakfast sandwiches. Peacock, which also makes chilled meal kits for children and salad kits, generates revenues of approximately $1bn and reported adjusted earnings before interest, taxation, depreciation and amortisation (ebitda) of $72.1m in the year to [...]
Departing Baltic Exchange boss predicts bright future under new Singapore owner November 14, 2016 Amid the drama of the London Stock Exchange’s £21bn merger with Deutsche Boerse, the sale of another London-based exchange company – much smaller, but not too much younger – went through without much bother this month. Last week, the Singapore Exchange (SGX) completed its £87m acquisition of the Baltic Exchange, a City of London-based maritime marketplace and information provider. [...]
Donald Trump presidency could be a threat to record China-US M&A levels November 10, 2016 Donald Trump’s presidency could imperil China-US mergers and acquisitions (M&A) activity, which has reached record high levels this year. Overall, inbound M&A into the US is at its highest year-to-date level since 2001, valued at $401.7bn (£322bn). And 65 bids from China make up $51.1bn of this total. Read more: These are Donald Trump's policies [...]
“I’m not in the camp of ‘the world’s about to come to an end'”: FTSE 100 private equity boss backs business to succeed after Brexit and Trump votes November 10, 2016 The chief executive of FTSE 100 investment group 3i believes Donald Trump and the Republicans can be a boost for business. Asked what impact President Trump would have on the company, Simon Borrows said: “Republican administrations tend to be good for business and good for the markets. So I’m not overly concerned about the impact [...]
This is what Donald Trump’s victory means for AT&T, Time Warner and global M&A November 9, 2016 Donald Trump’s presidency represents worrying news for – well, a lot of people. But dealmakers across the world will be among them, with the Republican expected to be bad news for global mergers and acquisitions (M&A) activity. In the lead-up to the election, Trump pledged that he would not allow the biggest deal of the year – [...]
M&A activity surge predicted in betting, airline and homebuilding industries after Brexit vote November 9, 2016 The UK’s Brexit vote is likely to increase deal activity in the betting industry, among airlines and between homebuilders, new analysis out today suggests. With the outcome of the Leave vote far from decided, “the only certainty is uncertainty”, the Boston Consulting Group (BCG) report noted. But the report, “Will Brexit hurt – or help [...]
How SoftBank won “national interest” backing from Theresa May for its “game-changing” Arm takeover November 7, 2016 Even the most devout follower of the London Stock Exchange’s RNS feed may have been confused by a statement issued by SoftBank last week. The Japanese lender published the number of staff employed by British tech giant Arm, a company it acquired in a £24bn mega-deal over the summer, as at 5 September. The figure, [...]
SoftBank confirms creation of 1,700 UK jobs as part of £24bn Arm takeover November 3, 2016 Japan’s SoftBank will create more than 1,700 UK jobs at Cambridge-based electronic chip maker Arm following its £24bn takeover of the company. Under the terms of the deal, SoftBank will at least double the UK headcount of Arm within five years. Read more: UK tech investors are incredibly happy about Softbank's $100bn fund The Japanese lender [...]