CMA probe throws £16bn Adobe and Figma tie-up into doubt June 30, 2023 The UK’s competition watchdog has said it may move to block Adobe’s acquisition of design platform Figma unless they can resolve anti-trust concerns. In a summary of the decision, the Competition and Markets Authority (CMA) said the merger of the two companies gives rise to “a realistic prospect of a substantial lessening of competition”. Leading [...]
Fast-growing logistics outfit Shift to pick up pieces of Tuffnells June 25, 2023 An up and coming logistics firm is understood to have snapped up pieces of delivery giant Tuffnells Parcel Express, following its collapse earlier this month placing 2,000 jobs at risk. Shift, which was launched five years ago by 29 year old Jacob Corlett has acquired the brand and intellectual property of the British delivery service, [...]
Vodafone and Three announce long-awaited £15bn UK mega merger June 14, 2023 Vodafone and CK Hutchinson, owner of Three, have announced their long-awaited UK merger today. The new group ‘MergeCo’, now the UK’s biggest mobile operator, was revealed this morning and is valued at £15bn, according to Sky News’ Mark Kleinman. MergeCo is 51 per cent Vodafone owned and 49 per cent CK Hutchinson owned. Vodafone chief [...]
US competition watchdog follows UK and blocks Microsoft’s $68bn Activision swoop June 13, 2023 America’s competition watchdog, the Federal Trade Commission (FTC) has moved again to prevent Microsoft from acquiring Call Of Duty maker Activision Blizzard. The US regulator asked a court to temporarily block the $68.7bn (£54.7bn) merger, which it believes could significantly reduce competition in the market. In December, the FTC issued an initial legal complaint, saying, [...]
Private equity giant CVC drawing up bid for Center Parcs June 5, 2023 Global private equity firm CVC Capital Partners is reportedly drawing up an offer to buy Center Parcs after its current owner Brookfield put the holiday resort chain up for sale last month.
‘Feeding time’: Why one retail group is on the hunt for distressed operators June 4, 2023 A business group which rescued upmarket chocolatier Montezuma from collapse has said it is looking to continue on its acquisition spree – noting that the current tough trading climate is “feeding time” for stronger players in the market. “In recent years, there have been so many distressed businesses that we have been able to pick [...]
European insurance M&A deals hit record high as investors shrugged off recession and interest rate fears March 22, 2023 The market for M&A deals involving European insurance companies surged in 2022, as private equity funds continued to drive the market forwards, despite the headwinds facing the global economy. The boom saw investors shrug off rising interest rates to complete a record 435 M&A deals in 2022, up from 285 in 2020 and 379 in [...]
Insurance sector deal-making hits decade high but 2023 outlook remains shaky February 26, 2023 Insurance sector M&A deals surged to a 10-year high in 2022, as the end of Covid-19 drove an uptick in deal-making activity. Insurance companies completed 449 M&A deals last year, marking the highest number of deals for a decade, new data from Clyde & Co shows. The surge in deals, from 418 in 2021 to [...]
Big Four look to hire London’s laid-off bankers to bolster their M&A teams February 6, 2023 The Big Four accounting firms – Deloitte, EY, KPMG and PwC – are seeking to hire laid-off bankers to bolster the ranks of their M&A advisory arms in the City. Top execs told City A.M. the world’s biggest professional services firms are seeking to capitalise on the downturn in big M&A deals by poaching talent [...]
Size matters: Womble Bond Dickinson merger with BDB Pitmans canned as it ‘would be more like a takeover acquisition’ February 1, 2023 Womble Bond Dickinson and BDB Pitmans have scrapped plans for a merger, the firms confirmed today, as analysts suggested the relative size of the former would mean a merger would, in reality, be more like a takeover. The law firms, who first entered talks in Autumn 2022, said in a joint statement they had “decided [...]