GVC down but not out in duel for Bwin.party August 28, 2015 888’S lead position in the battle for online gaming giant Bwin.party was thrown into doubt yesterday when the takeover target asked rival bidder GVC to finalise its best offer. Sportingbet owner GVC appeared to have fallen out of the running after Bwin.party accepted a £900m cash and share deal from 888 in July. But GVC [...]
Is your company about to merge? Let this 8-point plan for employees guide you on what to do next August 27, 2015 As Betfair and Paddy Power announce plans to merge, in a deal that would create one of the world's biggest online betting and gaming companies, what should you do if you’re in the employee waiting room – ready to be called in and delivered your fate? 1) Don’t panic – mergers happen all the time [...]
Deal crowns UK as betting M&A hotspot August 27, 2015 THE UK has become the biggest hub for gambling M&A this year in the wake of yesterday’s deal, new figures show. About $6.8bn (£4.4bn) of UK tie-ups have been announced so far this year, according to Dealogic, putting it ahead of its biggest rival the US, which has seen a 65 per cent slump in [...]
Monsanto gives up on £30 billion takeover bid for Swiss rivals Syngenta August 27, 2015 All Summer flings end in heartbreak – especially courtships worth $46bn (£30bn). Seed giant Monsanto yesterday threw in the towel on its four-month courtship of Swiss rival Syngenta after failing to attract the group with a takeover proposal. The New York-listed group, led by boss Hugh Grant, tried to win Syngenta round with a sweetened [...]
Profits grow at Gala Coral as merger looms August 21, 2015 Gala Coral yesterday revealed it grew strongly in the third quarter despite taking a £13m hit from taxes and regulation. The betting company, which owns a range of businesses from bookmakers to bingo halls, grew revenues from £288.7m to £305m in the 12 weeks to 4 July this year, while gross profits grew £8.1m from [...]
Global M&A activity goes above $3trn for the year – and healthcare takes the crown August 18, 2015 The total value of global mergers and acquisitions has surpassed $3trn (£1.9trn) for 2015, according to figures released by Dealogic. It is the fastest this point has been reached since 2007, when total activity went above $3trn on 23 July. In 2014 the point was not passed until November. The deal that pushed [...]
German car part firm accelerates $500m merger August 18, 2015 GERMAN industrial filter maker Mann + Hummel has agreed to buy US peer Affinia to boost its annual sales by more than a third to $1bn (£640m) and gain access to the US market for heavy-duty and hydraulic filters. Privately-held Mann + Hummel said it would not disclose the terms, but a regulatory filing by [...]
Cargill feeds its salmon tank in €1.35bn EWOS takeover from Altor and Bain Capital August 18, 2015 Privately owned agribusiness giant Cargill yesterday announced it is buying Ewos, an aquaculture firm, for €1.35bn (£960m). The purchase of the Scandinavian firm marks Cargill’s entry in the salmon feed market. Ewos currently manufactures over 1.2m tonnes of salmon feed, about one-third of the total market, for a global client base. Sarena Lin, president of [...]
Accounting giant EY swoops on Silicon Roundabout firm Seren August 18, 2015 Business advisory firm EY yesterday announced it is buying Seren, a digital design consultancy based in Silicon Roundabout. Seren chief executive Ben Langdon will continue as boss of what will now be EY-Seren. Seren co-founders Catriona Campbell and Terry Heath will become senior advisers to EY in the UK and EY-Seren. Langdon said: “Seren and [...]
Bowled over: Competition regulator topples merger or Original Bowling Company and Bowlplex August 17, 2015 Is the Competition and Markets Authority (CMA) about to force a split? The regulator has toppled plans for a merger between The Original Bowling Company and Bowlplex over concerns it would lead to less competition in the sector. Well. We're bowled over… The CMA said it had looked at six local areas where the pair [...]