How global dealmaking fell to a 10-year low in 2022 – and why executives aren’t worried January 31, 2023 The value of mergers and acquisitions (M&A) globally dropped 36 per cent last year to a 10-year low but executives remain confident for dealmaking in 2023, a new report from Bain shows. The report, which was released today, shows that M&A, particularly mega-deals worth more than $10bn, slumped from June 2022 after five months of [...]
Howden’s revenues jump 60 per cent as insurance broker looks to capitalise on ‘very turbulent’ market January 30, 2023 Insurance broker Howden today posted “record” results for 2022, reporting a 60 per cent increase in revenue, with its chief executive adding that the firm was primed to further profit from the economic uncertainty heading into 2023. The insurance broker’s chief executive David Howden told City A.M. has said the London firm is primed to [...]
Is this the end of law firm IPOs? January 30, 2023 British law firms have traditionally stayed away from public markets. Yet following a series of IPOs over the past eight years, there are now six UK law firms listed on the stock exchange. Gateley became the first UK law firm to launch an IPO in 2015 after floating on London’s alternative investment market (AIM). In [...]
Murdoch cancels proposal to reunite Fox and News Corp as shareholders lack confidence January 25, 2023 Rupert Murdoch has abandoned an attempt to reunite Fox and News Corp after shareholders expressed their lack of confidence in the merger. An announcement by News Corp yesterday said Murdoch had retracted his proposal to “explore a potential combination of News Corp and Fox Corporation” in a letter to Fox and News Corp. The billionaire [...]
Standard Chartered mulls sale of £3bn aviation arm days after First Abu Dhabi Bank drops takeover bid January 11, 2023 Standard Chartered is considering selling its £3bn aviation finance business, the bank said today. Standard Chartered’s aviation business, which is based in Ireland, accounts for around two per cent of its total income. The business owns and manages over 120 aircraft, leasing them to over 30 of airlines around the world, according to Airfinance Journal’s [...]
What lies ahead for M&A in 2023 in EMEA? January 4, 2023 | City Talk This past year has been a bit different from the prior year for M&A. After a record year in 2021, EMEA M&A saw a downshift in momentum in 2022. Both deal volumes and values in EMEA fell in the first three quarters of 2022 compared to the same time last year: there were 8,279 deals [...]
Serica to acquire Tailwind in £367m deal December 20, 2022 Serica Energy has announced it will buy the entire share capital of fellow North Sea oil firm Tailwind Energy Investment for a combined £367m. Natural gas producer Serica Energy will provide a £58.7 million cash payment and will issue over 111m ordinary shares representing as much as 28.9 per cent of its share capital. The [...]
Birketts strikes merger deal with Batchelors Solicitors amid forecasts of upcoming M&A boom November 28, 2022 UK law firm Birketts has struck a deal to merge with its London rival Batchelors Solicitors amid forecasts of a surge in consolidation in the UK’s legal sector. The deal will see the two firms join forces in a merger that is set to combine their long-standing social housing practices to create a market-leading team. [...]
M&A Purchasing Power: A US Shopping Spree in Europe? November 9, 2022 | City Talk The US dollar has gained strength over the last few months. And the euro fell below parity with it in July. And the pound… well, let’s not get started. For international organizations with dollar-denominated debts, conditions have become more expensive over the course of this year. Conversely, for US consumers, a stronger dollar will lead [...]
MySale board urges shareholders to back Frasers’ offer despite acknowledging bid undervalues firm October 12, 2022 The board of MySale has urged shareholders to accept Frasers’ bid even though the company acknowledges the offer “undervalues” the business. The Sports Direct owner Frasers would expect to own 504,113,926 MySale Shares or more than 48 per cent of the voting rights, if the deal went through. Last month, MySale shareholders rejected a 2p-per-share [...]