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 [...]
Afren ends takeover talks with Seplat after unsatisfactory offer February 13, 2015 Embattled oil producer Afren, which has been rocked by crumbling oil prices and corporate governance scandals, has ended talks with rival company Seplat after it failed to make an offer that's "satisfactory for all stakeholders". Seplat first made a play for Afren in December but it has since extended the deadline for it to make [...]
William Hill in £750m takeover bid for rival 888 February 10, 2015 SHARES in online bookmaker and casino 888 rocketed yesterday after it confirmed it had been approached by competitor William Hill regarding a possible takeover bid. 888’s shares jumped by 20 per cent after The Times reported William Hill has made a £750m offer in a bid to accelerate the expansion of its online gaming operations. [...]
888 holding’s share price soars amid takeover talks with rival William Hill February 10, 2015 888 Holding's share price surged amid reports it's in advanced talks with rival William Hill over a takeover bid. The betting firm's share price jumped as much as 24 per cent to 182 pence this afternoon. William Hill shares fell 1.2 per cent to 384 pence. The companies reached a preliminary agreement of 210 pence [...]
Lloyd’s of London insurer Catlin’s profits jump ahead of takeover by rival XL February 10, 2015 The figures Lloyd's of London insurer Catlin reported gross written premiums of $5.97bn (£3.92bn) for the year ending December 2014, which was up 13 per cent from $5.30bn (£3.48bn) a year earlier. It said the figure was slightly inflated by foreign currency exchange rates and an increase in the value of multiyear contracts written during 2014 in [...]
TUI on course for profit growth after merger February 10, 2015 The figures Tui Group has reported a 23.5 per cent jump in earnings before interest, tax, depreciation and amortisation in its first quarter, and a 5.4 per cent jump in revenues – in line with expectations. Hotels and resorts performed particularly well during the period, it added. The newly formed entity, forged through a merger [...]
Rexam set to back £4.3bn takeover bid by rival can-maker Ball February 8, 2015 Rexam’s board is keen to finalise a £4.3bn buyout offer from rival can-maker Ball, City A.M. understands. Bosses are thought to see the merger as the next obvious step in building the business, giving the two giants even more scale. UK-based Rexam’s share price has doubled since chief executive Graham Chipchase took the reins in [...]
Rangers board plays down Mike Ashley’s influence as it announces date to vote on Dave King takeover February 6, 2015 Rangers have called a general meeting for 4 March to vote on shareholder Dave King’s requisition to remove the board. The current Rangers board of four directors including chairman David Somers and chief executive Derek Llambias would be removed if shareholders agree to the resolution put forward by King’s requisition. Former director [...]
Proxima confirms it is in takeover talks with JKX Oil & Gas as share price rockets 57 per cent February 5, 2015 Proxima Capital Group has confirmed it is in “very early” talks with exploration group JKX Oil & Gas, after shares in the Ukraine and Russia-focused firm soared today. JKX's share price jumped more than 57 per cent shortly after midday today, and has since dropped back down slightly, although was trading up around 34 [...]
Office supplies firms to bind in mega merger February 4, 2015 LEADING US office supply firm Staples is set to acquire Office Depot in a $6.3bn (£3.4bn) deal in the hope of creating a mega corporation with the muscle to take on Wal-Mart and Amazon and giving it pro forma annual sales of approximately $39bn. The deal will see the leading US supplier of office basics [...]