Informa launches rights issue following US takeover deal approval October 11, 2016 Informa’s share price was lowered by eight per cent this morning as part of a rights issue. Informa’s issuance comes shortly after the company received shareholder approval for the acquisition of US business Penton Information Services for £1.2bn. [stockChart code="INF" date="2016-10-11 09:28"] Read more: British information business Informa announces £1.2bn takeover of US rival After [...]
CMS merges with two rivals in deal to create sixth largest UK law firm October 10, 2016 Partners at three City law firms have voted in favour of combining their businesses in a deal that will create the sixth largest UK law firm and the sixth largest global law network. CMS UK, Nabarro and Olswang will merge in a deal that is anticipated to complete on 1 May 2017. Partners of Nabarro [...]
The board of SVG is now considering two sale options with a third waiting in the wings October 10, 2016 A bidding war for SVG Capital (SVG) has ignited after HarbourVest upped its offer in an attempt to challenge the board's previously preferred option. SVG is in detailed discussions with a group of investors led by Goldman Sachs and the Canadian Pension Plan Investment Board (CPPIB), who came in with an eleventh hour offer to purchase the [...]
Macquarie in box-seat as government prepares for total exit of Green Investment Bank October 9, 2016 The government has ignored calls for it to retain a stake in the Green Investment Bank (GIB) after it emerged that Macquarie Bank was in the final throes of agreeing a multi-billion pound deal to purchase all of the state-owned entity. The Australian-based infrastructure investor has been given preferred bidder status and while there had been hopes [...]
William Hill bets on Amaya’s online credentials in £5bn merger talks October 9, 2016 William Hill could be the latest arrival to the the betting industry's merger party, after confirming it was in talks with Canadian online gambling group Amaya. The two are hashing out a prospective all-share merger, which would create a £5bn betting giant. Negotiations are at an early stage but it is understood that a deal [...]
What a difference three and a half weeks makes? Tracking HabourVest’s hostile takeover attempt of SVG Capital October 6, 2016 It has been a strange three and a half weeks for chief executive Lynn Fordham and her board at SVG Capital (SVG). Sources close to the company said that SVG's board was only informed of HarbourVest's hostile takeover bid late in the evening on 11 September and in the weeks that followed the US-giant quickly gathered sufficient shareholder backing for its takeover offer. [...]
It looks like Twitter takeover talks are cooling October 6, 2016 Twitter shares have tumbled after reports of several of the biggest firms' interest in snapping up the stalled social network have cooled. Twitter shares rocketed yesterday after reports bids will be submitted as soon as this week, but the stock tumbled as much as 16 per cent in morning trading in New York following fresh reports two major [...]
SVG is selling its assets to Goldman now October 6, 2016 SVG Capital has abandoned plans to sell half of its assets to two private equity firms and wind itself down, and has instead backed a bid for its entire investment portfolio from a consortium of Goldman Sachs and Canada Pension Plan Investment Board funds. The FTSE-250 firm has been scrambling to find alternatives to a £1bn [...]
HarbourVest’s takeover of SVG Capital hit by withdrawal of support October 5, 2016 Two key institutional investors have withdrawn their support of HabourVest’s hostile £1bn takeover attempt of SVG Capital (SVG). Legal & General and Aviva – who own 4.5 and 2.8 per cent stakes in SVG respectively – had previously signed non-binding letters of intent to support the US-fund’s offer. Hours earlier, SVG’s board redoubled its efforts [...]
Twitter shares are flying on these latest takeover reports October 5, 2016 Twitter shares have taken off again after fresh reports emerged on the progress of potential sale of a the struggling social network. Shares shot up more than four per cent touching as high a $24.83 in early trading in New York, after it was reported that bids for the company could begin as soon as this week. [...]