Singapore Exchange agrees £77.6m deal for London’s Baltic Exchange August 4, 2016 The Singapore Exchange has agreed a £77.6m takeover deal for the London-based Baltic Exchange. The £160.41 per share offer has been agreed after months of exclusive discussions between the companies. The Singapore Exchange said in a statement that, as part of the deal, Baltic shareholders will also receive at least £18.80 in cash as a final dividend. [...]
Stock exchange makes commitment to London amid merger HQ doubts August 4, 2016 The London Stock Exchange has insisted the City will remain the home of its joint headquarters with Deutsche Boerse under the terms of their £21bn deal. Any changes to the location of the merged entity’s holding company, the London location of which was thrown into doubt after the UK’s Brexit vote, could not be made before the [...]
Twitter’s share price takes flight on buyout rumours August 3, 2016 Shares in micro-blogging site Twitter have jumped today on rumours former Microsoft boss Steve Ballmer and Saudi investor Prince Al-Waleed Bin-Talal could make a buyout offer for the company. Shares are up by over eight per cent in New York, climbing to $17.72 after falling as low as $15.77 in July. Twitter shares hit an all time low of [...]
ITV talked up as post-Brexit vote foreign takeover target August 3, 2016 Downton Abbey broadcaster ITV is being talked up as a foreign takeover target in the aftermath of the UK’s Brexit vote. The company, which currently has a market capitalisation of £7.8bn, has been linked by analysts with moves from the US and Europe. Alex DeGroote, a media analyst at Peel Hunt, told City A.M.: “It certainly [...]
US rival pulled out of London Stock Exchange bid because it expected Brexit vote August 3, 2016 The owner of the New York Stock Exchange pulled out of a bid for the London Stock Exchange because it was anticipating a Brexit vote, the company has revealed. The Intercontinental Exchange (ICE) announced it would not be making a bid for the LSE, which is currently in the process of merging with German exchange [...]
Here’s the windfall City advisers are in for from the ARM Softbank mega-deal August 3, 2016 A handful of top City firms will land a windfall share of the multi-million pound pot of cash being splashed on advisers to one of the biggest tech deals of the year. More than £100m is being spent on advisers to Softbank's acquisition of ARM in a £24.3bn mega-deal agreed in June. Big name banks such as Goldman Sachs and Lazard are [...]
UK’s Brexit vote expected to have global impact with fall in M&A deals August 3, 2016 The UK’s Brexit vote is expected to hit global mergers and acquisitions (M&A) activity, a new study has found. Seven in 10 global dealmakers believe that while it remains uncertain when and how the UK will leave the EU, the number of global transactions will fall overall. And 67 per cent believe that Britain leaving the [...]
Bookmaker William Hill snaps up gaming software firm Grand Parade to keep up with digital shift August 2, 2016 William Hill has made moves to catch up with the gambling industry's shift to digital with the £13.6m acquisition of digital gaming software firm Grand Parades. Recently a huge amount of merger and acquisition activity has swept through the gambling sector. Paddy Power and Betfair came together in a £5bn tie-up, while Gala Coral and Ladbrokes merged in a £2.2bn [...]
The billion-dollar Tesla SolarCity merger is (El)on August 1, 2016 Green energy firm SolarCity has accepted a $2.6bn all-stock takeover deal from Elon Musk's Tesla. Both companies' stocks dipped on the news, with SolarCity's closing down 7.4 per cent to $24.72, while Tesla's share closed down two per cent at $230.01. SolarCity's stock also took a five per cent dive this morning after it snuck out a downgrade in its full-year [...]
Verizon is buying this Irish GPS company for $2.4bn August 1, 2016 Verizon's buying spree hasn't ended with Yahoo. Verizon has now made a cash offer for Irish GPS vehicle tracking company Fleetmatics for $2.4bn (£1.8bn). The US telecoms giant is looking to expand into internet connected devices as it grows its business away from its core mobile market. Fleetmatics' shares leaped by 39 per cent to $59.69 following the announcement, though investors sent Verizon shares down by 0.1 [...]