UK could lose £250bn in potential M&A deals after Brexit July 25, 2016 Brexit could cost the UK economy hundreds of billions in lost M&A activity over the rest of the decade, as firms hold off wheeling and dealing in the aftermath of the EU referendum. Research for lawyers Baker and McKenzie said a long-drawn out negotiation and prolonged business uncertainty could result in activity shrinking by one-third by [...]
William Hill’s share price jumps as 888 and Rank Group team up for joint bid July 25, 2016 William Hill's share price jumped 10 per cent as markets opened this morning after gaming groups 888 and Rank confirmed they have teamed up to mount a joint bid for high street rival William Hill. Rank's share price rose around three per cent at the open to 249p, while 888's stock was also up around three per [...]
Softbank’s bid for UK chip designer Arm Holdings under the spotlight July 25, 2016 A bumper earnings report from chip designer Arm Holdings is expected to shine a spotlight on the £24.3bn takeover bid from Japanese telecoms group Softbank. Arm will report its second quarter results on Wednesday and it’s projected to record a 20 per cent jump in revenue to £275.5m, while pre-tax profits are thought to have climbed [...]
Sainsbury’s gets blessing from competition watchdog for Argos takeover July 22, 2016 Sainsbury’s proposed acquisition of Home Retail Group has been given clearance by the Competition and Markets Authority (CMA). The body said this morning that it would not be referring the deal for further investigation. J Sainsbury agreed a cash and shares deal, then worth £1.4bn, for the Argos owner in April. Read more: Sainsbury's remains committed [...]
SABMiller reports revenue growth as it prepares for AB InBev takeover July 21, 2016 Drinks maker SABMiller has reported a two per cent rise in net producer revenue for the three months to 30 June, despite challenging trading in Africa hitting sales. On a reported basis, net producer revenue dropped four per cent. The group said this was "due to the adverse translational impact on our results of the [...]
Deutsche Boerse now “very confident” of winning shareholder approval for merger July 21, 2016 Deutsche Boerse has taken another step towards winning shareholder approval for its merger with the London Stock Exchange. The German exchange yesterday reported it had won 55.5 per cent approval for the deal. Last week, the company lowered the acceptance threshold from 75 per cent to 60 per cent. Read more: Deutsche Boerse lowers shareholder [...]
SoftBank and ChemChina drive Asia Pacific region to record M&A levels July 20, 2016 SoftBank’s £24.3bn offer for UK-based Arm has helped 2016 become a record year for outbound M&A activity from the Asia Pacific (APAC) region. Some $202.5bn worth of deals have been announced so far this year – already beating the whole figure for 2015, $187.1bn, which was a record year. Read more: Another boost for post-Brexit [...]
Smooth move: Unilever hopes to sharpen up its business with takeover of razor startup Dollar Shave Club July 20, 2016 Consumer goods giant Unilever has expanded its men's grooming offerings by snapping up the US-based razor startup Dollar Shave Club. The financial terms of the deal have not been disclosed, though sources told Fortune Unilever paid $1bn (£760m) for the razor subscription company. Unilever said in a statement Dollar Shave Club's chief executive Michael Dubin will [...]
How shareholders feel about Bayer’s “determined” pursuit of Monsanto July 20, 2016 The share price of German drugs and chemical giant Bayer has been virtually untouched after Monsanto rejected its improved takeover offer. And shareholders appear to have mixed views on the company’s pursuit of the US seeds company. Last week, Bayer improved its offer for Monsanto from $122 (£93) per share to $125, equalling around $64bn. [...]
Monsanto knocks back “financially inadequate” Bayer offer… again July 19, 2016 Monsanto has knocked back Bayer’s improved takeover offer, describing it as “financially inadequate and insufficient”. But the US seeds company said that it “remains open to continued and constructive conversations with Bayer and other parties”. Read more: We can't Bayer it: Henderson attacks German's Monsanto takeover pursuit The German company improved its offer from $122 [...]