AT&T confirms $85bn takeover of Time Warner October 23, 2016 US telecoms giant AT&T is to buy entertainment behemoth Time Warner in an $85bn (£69.5bn) takeover, it was confirmed this morning. The deal will be a combined cash-and-share offer which will see Time Warner investors given $107.50 per share – half in AT&T stock and half in cash. That is a thirty per cent premium on the $80 Time Warner shares were [...]
Burberry share price jumps over five per cent on reports of interest from US designer Coach October 21, 2016 Burberry's share price jumped six per cent this afternoon on reports that US designer Coach is interested in merging with the British designer. Financial blog Betaville reported that Coach has engaged investment advisory firm Evercore to work with the two companies on a potential tie-up. According to a source cited by Betaville, senior executives from Coach [...]
If the US election was being fought on M&A grounds, there would be a landslide October 21, 2016 Dealmakers will be closely watching the results of the US presidential election next month – a lot might hinge on the outcome. A survey of 1,600 global dealmakers found 56 per cent believed that Donald Trump would have a negative impact on mergers and acquisitions (M&A) activity. But they’re not too worried: just 15 per [...]
Brussels regulator expected to push back London Stock Exchange merger decision October 21, 2016 Brussels regulators is set to extend the length of their investigation into the London Stock-Exchange’s merger with Deutsche Boerse. The European Commission is expected to announce today that a final decision will be made on 6 March – pushed back from 13 February. Read more: London Stock Exchange beats expectations as it seeks to push through deal [...]
Time Out Group buys London events company YPlan October 21, 2016 Time Out Group has announced the acquisition of London-based events and ticket booking company YPlan. YPlan is a "mobile-first" events discovery and booking platform, with a roster of big name backers, including Ashton Kutcher, Pharrell Williams and Stephen Fry. Time Out said that, combined with its high-quality curated content, the addition of YPlan will "enable the company's [...]
Shares in British American Tobacco jump after a $47bn offer to merge with Reynolds October 21, 2016 Shares in British American Tobacco (BAT) rose more than four per cent by lunchtime after it offered to fully acquire Reynolds American in a $47bn (£38.4bn) deal. London-listed BAT already owns 42.2 per cent of Reynolds, but shares rose to 4,999.75p after it offered to acquire the remaining 57.8 per cent at $56.50 per share, representing a 20 per [...]
Private equity house says Avio-derci to Italian space business October 20, 2016 Private equity house Cinven has announced the sale of its space launcher and propulsion company. Ten years after Cinven acquired Avio from Carlyle, alongside Finmeccanica as a minority shareholder, for €2.57bn (£2.3bn), the firm has agreed a sale to Space2 and Leonardo-Finmeccanica together with Avio’s management. Read more: Private equity firms backed to capitalise on [...]
London Stock Exchange beats expectations as it seeks to push through Deutsche Boerse merger October 20, 2016 The London Stock Exchange Group has reported growing income in its third quarter, beating expectations, as it seeks to push through its merger with Deutsche Boerse. The figures In an interim management statement, the LSE said revenue from continuing operations was up 15 per cent to £376.2m for the three months to 30 September. Read more: [...]
Private equity firms backed to capitalise on Brexit opportunities October 20, 2016 Private equity houses have been backed to capitalise on uncertainty over the UK’s Brexit vote with new investments. A Boston Consulting Group (BCG) report out today highlights a number of areas private equity (PE) should be focusing on after the EU referendum result. And one of the report’s authors, Antoon Schneider, a senior partner at [...]
Pass the popcorn: Competition watchdog considers AMC takeover of Odeon cinemas October 19, 2016 The Competition and Markets Authority (CMA) has launched an inquiry into AMC Theatres’ acquisition of Odeon. AMC agreed a £921m deal to buy Odeon from private equity group Terra Firma Capital Partners in July. Read more: AMC Theatres set to buy Odeon cinema chain in £921m deal The CMA today announced the launch of an [...]