Tyrrells buys Yarra Valley Snack Foods for global growth August 2, 2015 Upmarket crisps maker Tyrrells is speeding up its global expansion after announcing its acquisition of Melbourne-based organic snacks company Yarra Valley Snack Foods. Tyrrells launched a range of products in Australian supermarket Coles in April last year, and says the purchase will “accelerate the international growth”. It reported a net worth of over £26m last [...]
Stephen Hester’s role at risk as offer for RSA looks likely August 2, 2015 RSA boss Stephen Hester was given a hero’s welcome when he was appointed to lead the embattled insurer just over 18 months ago. However, following last week’s revelation that Zurich is mulling an offer for the group, he could be set to leave before finishing what he has started. The former Royal Bank of [...]
Intercontinental profits rise as merger talks heat up July 31, 2015 INTERCONTINENTAL Hotels Group (IHG) posted a rise in first half sales and profits yesterday as rumours of a merger between the hotelier and Starwood Hotels & Resorts re-emerged. The company, which denied the takeover talks, reported a nine per cent rise in operating profits to $337m (£216m) while revenue per available room increased by 5.1 [...]
Conservative election victory creates M&A bonanza July 30, 2015 The run-up to the election may seem like ancient history now, but there's no doubting businesses were worried about what would happen if the wrong sort of coalition, or even – gasp – Labour, came to power. Read more: Summer sizzler? Over £11bn of UK-focused takeover deals on the horizon So it's hardly surprising that in the [...]
Royal Dutch Shell share price soars as it confirms 6,500 job cuts while £47bn takeover of BG Group “progresses well” July 30, 2015 Royal Dutch Shell's share price climbed this morning after confirming it is cutting 6,500 jobs while revealing a 35 per cent drop in profits for the three months to 30 June. The figures The oil giant is struggling amid falling prices and heightened competition. Profits were down more than a third to $3.4bn for [...]
Share price of Wembley developer Quintain surges 22 per cent as it confirms £700m Lone Star offer July 29, 2015 Shares in Quintain Estates and Development, the property developer behind London’s Wembley Arena, jumped 22.4 per cent to 131p in early trading after its board recommended a takeover offer from US-based investment firm Lone Star. In an announcement to the stock exchange this morning, the company said Quintain shareholders will receive 131p in cash for [...]
Summer sizzler: Over £11bn of UK-focused takeover deals on horizon as market heats up July 28, 2015 The deals market sprang back into action yesterday, with four major takeovers unveiled after a relatively quiet month on the transactions front. Over £11bn worth of UK-focused takeovers are now on the cards, after Melrose agreed to sell portfolio company Elster for £3.3bn and pharma group Hikma bought a US drugs business for £1.7bn. GKN [...]
EE boss Olaf Swantee takes rivals to task over complaints about BT’s takeover July 27, 2015 EE boss Olaf Swantee yesterday hit back at rivals attacking a proposed £12.5bn takeover by telecoms giant BT amid fears the deal will dilute competition in the sector. “We have about 20 of our competitors who want to use lawyers to get a certain result, rather than using engineers to help them differentiate,” he said. [...]
Ladbrokes share price falls after confirming £2.3bn merger with Gala Coral July 24, 2015 Ladbrokes has confirmed it will merge with rival gambling company Gala Coral to create a bookmaking giant with a market value worth £2.3bn. Read more: Ladbrokes eyes up a quick move for Gala Coral Shares in Ladbrokes opened two per cent down on the news. With an expected 4,000 shops, Ladbrokes Gala Coral will overtake William [...]
Nikkei swoops for Financial Times as outbound Japanese M&A hits all-time record in 2015 and analysts cite Abenomics July 23, 2015 Japanese firms are casting their nets far and wide as deals activity heats up, with media giant Nikkei’s £844m swoop for the Financial Times yesterday taking the country’s outbound M&A to an all-time high in 2015. Companies from Japan have splashed nearly $53bn (£34bn) on foreign takeovers so far this year, putting them on [...]