Megabrew bubbly on ice: City faces nervous wait on SABMiller shareholder vote result September 23, 2016 The drinks could be flowing at SABMiller next week. The FTSE 100-listed beer giant agreed to be acquired by AB InBev last November for £44 per share, or £71bn, in one of the biggest deals of a bumper year for global mergers and acquisitions activity. After years of speculation in the City, the so-called Megabrew [...]
Rival European exchange warns London Stock Exchange-Deutsche Boerse merger would create a “virtual monopoly” September 21, 2016 The merger of the London Stock Exchange and Deutsche Boerse would create a “virtual monopoly”, the boss of a rival European exchange company has claimed. Euronext chief executive Stephane Boujnah said the fusion would create a company 10 times larger than his in second place. Read more: Rival exchange eyes from LSE merger "opportunities" as [...]
The UK is second in the world for tech startup exits September 21, 2016 More tech startups in the UK went public or were acquired than in any other country in the world behind only the US at the start of the year, new research reveals. The high-profile acquisitions of Swiftkey by Microsoft and Magic Pony by Twitter helped send tech merger and acquisition (M&A) surging across Europe. Read more: Why companies like [...]
Schroders backs private equity firm’s management as it fends off hostile approach September 20, 2016 Schroders has given its backing to private equity company SVG Capital’s management team as it attempts to fend off a £1bn-plus hostile takeover approach from the US firm HarbourVest. The fund manager last week reduced its shareholding in SVG to 11.35 per cent but said this was to meet cashflow obligations and confirmed its “ongoing support [...]
“Chicken King” Ranjit Boparan gobbles up turkey business Bernard Matthews September 20, 2016 Ranjit Boparan has this evening completed the takeover of turkey producer Bernard Matthews. Boparan, who has earned the name “Chicken King”, also confirmed in a statement that 2,000 jobs at Europe’s largest turkey company will be retained. It first emerged that Bernard Matthews’ private equity owner, Rutland Partners, was seeking to sell the company in [...]
Middle East investment vehicle buys 23 per cent stake in UK broker September 20, 2016 A Middle Eastern investment vehicle today took a 23.1 per cent stake in broker WH Ireland. Kuwaiti European Holding Group (KEH), the vehicle of the Al-Humaidi family, this morning announced it had paid £8.45m for more than 6m shares at 140p, a 39 per cent premium on last week’s closing price. WH Ireland’s share price rocketed [...]
Research identifies what makes a company an attractive acquisition target September 20, 2016 Underperforming public companies have become increasingly attractive acquisition targets in recent years, according to research out today. Intralinks and the Cass Business School have published a study, based on data spanning 23 years and 34,000 firms worth at least $50m (£38m), seeking to determine what features make a company an attractive target. The researchers examined six [...]
Influential MP calls for pensions probe into sale of turkey business September 19, 2016 Frank Field, who chairs the influential Work and Pensions Select Committee, has called on the Pensions Regulator to probe the takeover of turkey producer Bernard Matthews by Ranjit Boparan. The Labour MP is concerned that the deal will see Bernard Matthews’ retirement scheme absorbed by industry-funded lifeboat, the Pension Protection Fund (PPF). Read more: Turkey [...]
Takeaway.com IPO: Is Europe about to get its next tech unicorn? September 19, 2016 Dutch dot-com startup Takeaway.com could be on the verge of becoming Europe's latest tech unicorn. The firm issued more details this morning about its long-awaited float on Amsterdam's Euronext exchange, with the company set to flirt with a €1bn price tag. Takeaway.com, founded in 1999, said its shares will go public on 30 September – Euronext's first IPO [...]
Online retailer Hut Group set to announce Ideal acquisition September 18, 2016 Online retailer Hut Group is poised to announce the takeover of an American dieting and sports nutrition company. The digital retailer is expected to announce the deal for Ideal Shape in the coming days, Sky News reported. Read more: The Hut Group eyes acquisitions after securing £210m loan Hut Group reported group sales of £334m, [...]