KKR pushes for Assura to ditch PHP deal amid bidding war August 8, 2025 The bidding war between private equity giant KKR and retail investor Primary Health Properties (PHP) has heated up after KKR pushed for Assura to ditch an already recommended takeover offer from the latter. KKR’s investment vehicle Bidco – which is also by fellow US private equity Stonepeak – said on Friday it has held discussions [...]
Breadmakers Hovis and Kingsmill butter up £75m merger July 26, 2025 Bread producers Hovis and Kingsmill are set for a historic merger with their owners expected to ink an agreement after months of discussion. Kingsmill, whose immediate parent Allied Bakeries is owned by London-listed Associated British Foods (ABF), and Hovis could benefit from up to £50m of annual cost savings from a merger. The proposed agreement, [...]
Why did Santander buy TSB? July 3, 2025 Santander might have hoped its takeover of TSB would make waves across the banking industry, but analysts have dubbed it a more modest splash. The deal, which is set to be worth £2.9bn when closed in 2026, will add TSB’s five million customers, £34bn in mortgages and £35bn in deposits to Santander’s portfolio as well [...]
M&A volumes jump as US bidders snap up UK tech July 2, 2025 US private equity firms are continuing to swoop for UK tech companies leading to a jump in merger and acquisition (M&A) volumes. Giants from across the Atlantic have taken a heightened interest in UK stock, which analysts pegged to the “cheap and undervalued” nature of equities. UK public M&A activity almost tripled in the first [...]
Totally Wicked: Vapes giant sold to Chinese investor June 26, 2025 Family-owned vapes retailer Totally Wicked has been sold to a Chinese investor, it has been revealed. The Lancashire-headquartered company, which was founded in 2008 by Jason Cropper, has been acquired by Wittyace UK Holding. The business is controlled by Chinese national Ying Wang and is registered in Cambridge. It is ultimately owned by Wittyace Hk Holding [...]
One twist left in the PHP and KKR bidding war for Assura June 23, 2025 The Assura bidding war between KKR and PHP looked to be sealing its final chapter on Monday – but analysts warn there could be one more twist in the saga. Assura said on Monday it had recommended its board to accept a fresh cash offer from PHP, which valued the firm at £1.79bn. The deal [...]
Direct Line bosses out ahead of £3.7bn Aviva deal after bumper bonus revolt June 23, 2025 The chief executive and chief financial officer of Direct Line are to step down when its £3.7bn sale to Aviva is complete, it has been announced. CEO Adam Winslow and CFO Jane Poole will leave their roles when the deal is finalised next month. In a statement, the company said a leadership team for Direct [...]
Getty Images’ £3bn Shutterstock merger captures watchdog’s eye June 23, 2025 The $3.7bn (£2.9bn) merger between Getty images and Shutterstock has caught the attention of the UK’s competition watchdog. The deal, which was first announced in January, has the potential to monopolise the stock image market for creative, media and advertising industries. At the time of the announcement, Getty Images said the merger was expected to [...]
Spectris agrees to £3.8bn takeover but KKR threatens bidding war June 23, 2025 Industrial group Spectris has agreed to a £3.8bn takeover by US private equity Advent but a bidding war could be brewing as KKR mulls a rival offer. The FTSE 250 firm has been valued at £37.73 per share in the deal. Shares jumped 13.5 per cent as markets opened on Monday to around 3,726. Private [...]
UK a ‘standout’ destination for deals despite economic uncertainty June 22, 2025 The UK remains a “standout” destination for dealmaking among European peers despite wider economic uncertainty, new data shows. Global law firm White & Case LLP’s M&A Explorer found the UK was the top destination for mergers and acquisitions in Europe in the first six months of the year. Some 1,207 transactions worth a total of $118.6bn [...]