Royal Mail’s European subsidiary nets second big deal of recent months October 4, 2016 Postal giant Royal Mail has ventured into the US market by buying a next day delivery company in a deal that will cost the former state-owned company $90m (£70m). Golden State Overnight Delivery Service Inc (GSO) which operates in principally in California, was bought by Royal Mail through its European subsidiary General Logistics Systems (GLS). Read more: Royal Mail's pension scheme under [...]
Deal-making at investment banks is set to hit a 10-year high October 4, 2016 Investment banks are eyeing up a bumper year of deal-making as activity in the money markets is set to hit its highest level in a decade. The volumes of cash flowing through investment houses in the shape of debt and capital market (DCM) activity hit $5.2 trillion (£4.1 trillion) in the first nine months of [...]
Bupa giving dentistry chain Oasis a check up as preliminary talks for a bid get underway October 3, 2016 Private healthcare group Bupa is weighing a takeover bid for dentistry chain Oasis. Oasis, currently owned by private equity firm Bridgepoint, could be worth in the region of £500m, though reports of its value vary. Bupa has held preliminary talks with Oasis Healthcare's management and shareholders about a deal, it was first reported by Sky News. Discussions are said to [...]
Love at first sight for EliteSingles October 3, 2016 The parent company of the premium dating service EliteSingles, Affinitas GmbH, made the first move and acquired French dating site Attractive World. Attractive World is the number one dating service in France and also operates in Belgium, Luxembourg and Switzerland. More than 2m singles have applied to the site since its creation in 2007. During [...]
Bass Pro Shops to snap up Cabela’s in a deal worth $5.5bn October 3, 2016 US fishing and hunting equipment chain Cabela's has agreed to sell itself to another outdoor industry firm Bass Pro Shops in a deal valued at $5.5bn (£4.28bn). Bass Pro Shops' offer of $65.50 per share represents a 19.2 per cent premium to Cabela's close on Friday. This news helped shares in Cabela's hit their highest level in more than [...]
It’s all coming up roses as Baring Asia buys Cath Kidston October 3, 2016 Cath Kidston, the brand which put such English country staples as cabbage roses and polka dots in kitchens across the UK, is about to take on a decidedly Asian flavour, after Baring Asia took a controlling stake. Reports suggested Baring has bought a stake owned by US private equity firm TA Associates, giving it a majority shareholding. [...]
EU restarts anti-competition investigation into the Dow Chemical-DuPont merger October 3, 2016 EU competition regulators restarted their investigation into the $130bn (£101bn) merger of US chemicals giant Dow Chemical and DuPoint after the companies provided key data. The EU Commission added it will now decide whether to approval the mega-deal by 6 February, however this deadline could be pushed back again. Commission spokesman, Ricardo Cardoso, confirmed in an email to Reuters that the [...]
Janus Capital is merging with Henderson Global Investors to create a $320bn giant October 3, 2016 Shares in Henderson Global Investors shot up more than 18 per cent to 274p in early trading after it unveiled plans to merge with Janus Capital, the asset manager bond king Bill Gross famously ditched Pimco for. In a statement today Janus said it was merging with Henderson Global Investors to create a giant asset manager with [...]
Why would anyone choose a career in private equity anymore? October 2, 2016 Fear of risk is changing private equity for the worse, MVision chief executive Mounir Guen tells Billy Bambrough "Why would a brilliant young person go into private equity anymore?” asks private equity veteran and boss of industry advisory firm MVision, Mounir Guen, known almost exclusively by the nickname Moose. “Why not become a tech entrepreneur and [...]
Private equity giants eye bid for part of Priory hospitals empire October 2, 2016 Private equity giants, including former Phones4U owner BC Partners, are finalising bids for 19 hospitals being offloaded by US healthcare giant Acadia. The deal could raise as much as £300m for Acadia Healthcare, which bought the Priory hospital for £1.5bn in January. Acadia’s purchase of Priory – best known for treating celebrities including super model [...]