UK mergers and acquisitions fall to lowest total since 1987 March 3, 2015 Last year was officially the year of the failed merger. According to new data from the ONS, there were fewer mergers and acquisitions involving UK companies in 2014 than in any year since 1987, when ONS records begin. The figures There were 20 completed acquisitions of UK companies by foreign businesses in the fourth quarter [...]
Three flat ahead of O2 takeover February 26, 2015 BRITAIN’S smallest mobile network operator Three yesterday posted flat revenue growth of just one per cent to £2.05bn for 2014. The network, owned by Hong Kong investment group Hutchison Whampoa, said its total active customer base rose six per cent to 8.41m as it added 478,000 customers during the year. Hutchison Whampoa is currently preparing [...]
Holcim posts strong final quarter as Lafarge merger stays on track February 23, 2015 CEMENT group Holcim reported a positive final quarter of 2014, although overall the firm posted a 3.1 per cent reduction in sales during 2014 – blaming unfavourable currency conditions for having a 5.2 per cent impact on the drop. Operating profit fell by 1.7 per cent to 2.3bn Swiss francs (£1.6bn). The firm stated that [...]
Lipton Rogers and Axa takeover Pinnacle tower for £220m February 19, 2015 Developer Lipton Rogers and fund manager Axa have agreed to takeover the stalled Pinnacle tower development in London’s Square Mile. The pair bid around £220m to buy the site located on 22-24 Bishopsgate in the heart of the city. It has been dormant since 2011 when its developer ran out of funding. [...]
Can you believe it? Rexam share price jumps as board recommends takeover offer by Ball Corp February 19, 2015 The board of Rexam – supplier of quality can to the like of Red Bull and Carlsberg – has recommended a takeover by US rival Ball Corp. The offer comprises 407p in cash and 0.04568 of a new share in Ball, representing in aggregate 628p per Rexam ordinary share. It's thought to value Rexam at [...]
Insurance sector to be hit by M&A fever as Fairfax buys Brit February 17, 2015 Analysts said yesterday that Brit’s acquisition by Canadian firm Fairfax Financial Holdings could be the precursor to other deals set to sweep the insurance market. Shares in Brit jumped by 11.23 per cent following the news that Fairfax had made an offer of £1.22bn that has been agreed by private equity owners CVC and Apollo, [...]
Sports Direct shares drop with M&A chief’s sudden exit February 17, 2015 SPORTS Direct’s share price fell more than four per cent in morning trading yesterday after it emerged that its mergers and acquisitions boss Jeff Blue was leaving the retailer. Blue, a former Merril Lynch banker, was hired two years ago to spearhead takeover deals for Mike Ashley’s high street giant. He was also standing in [...]
Sports Direct shares drop as M&A boss departs February 17, 2015 Sports Direct's share price was down more than four per cent this morning after it emerged that its mergers and acquisitions boss Jeff Blue is leaving the company. Blue, a former Merril Lynch banker, was hired two years ago to spearhead takeover deals for Mike Ashley's high street behemoth. He was also standing in [...]
888 snuffs out William Hill takeover talks February 16, 2015 ONLINE gambling company 888 yesterday said negotiations over its mooted £720m takeover by rival William Hill had ceased after a key stakeholder vetoed the deal. 888, which saw its stock surge 20 per cent last week after the talks were made public, said it had discussed a recommended offer from William Hill worth 200p plus [...]
Aer Lingus names Stephen Kavanagh new chief executive amid IAG takeover bid February 16, 2015 A new chief executive will take over the pilot's seat at Aer Lingus as the budget airline negotiates a potential takeover by British Airways owner IAG. Stephen Kavanagh has been handed the top job, replacing outgoing Christoph Mueller who disembarks the Irish airline at the end of February to board beleaguered carrier Malaysia Airlines as [...]