Aer Lingus rejects latest takeover bid from British Airways owner International Consolidated Airlines January 10, 2015 Once again, Irish airline Aer Lingus has rejected a takeover offer from International Consolidated Airlines (IAG). The holding company, which was set up by Willie Walsh and owns British Airways, upped its takeover offer to €2.40 (£1.88) a share at the end of December. Previously, IAG had made a bid of €2.30 a [...]
BGC Partners urges GFI shareholders to reject CME bid as it warns founder is “actively sabotaging” takeover offer January 9, 2015 US-based brokerage BGC Partners has written a letter to GFI Group shareholders asking them to reject a rival bid for the company, adding add that its attempt to buy the rival group has been "actively sabotaged" by its management. The letter recommended shareholders turn down a bid by CME Group, pointing out its own "fully [...]
XL Group secures takeover of Lloyd’s of London insurer Catlin January 9, 2015 US insurer XL Group has secured its acquisition of Lloyd's of London insurer Catlin, making it one of the world's largest ten insurers. XL said it had agreed to pay 388p in cash for each Catlin share and its remaining stock in the £2.7bn deal. The Bermuda-based insurer's shareholders will own about 13 per cent [...]
Glasgow Rangers rebuff takeover approach from US tycoon Robert Sarver January 6, 2015 Rangers have rejected an £18m takeover approach from American financier and owner of Phoenix Suns basketball team Robert Sarver. The club said the offer, which included placing 100m shares at 18 pence, did not "adequately value a controlling interest in the company". Rangers admitted they would need "further funding before the end of January" and was [...]
Takeovers kick off with Rangers bid – Editor’s Letter January 5, 2015 Football is a funny old game, and a funny old business too. Yesterday, just as one Glasgow Rangers director made the club a £500,000 emergency loan to keep it in business, the famous old institution became one of the first companies of this New Year to become subject to a City takeover bid. The [...]
Smith & Nephew share price soars 8pc on Stryker takeover reports December 24, 2014 Shares in medical equipment group Smith & Nephew surged eight per cent this morning, valuing the business at £10.4bn on the back of reports of a possible takeover by US group Stryker. Stryker, a US surgical implants manufacturer, denied it has any intention to buy the company back in May. However, Last month, it was [...]
American Apparel approached on takeover December 22, 2014 FASHION retailer American Apparel yesterday confirmed it had received a takeover offer of between $1.30 and $1.40 per share. At $1.40 per share the company is valued at $267m (£171m). It comes just a week after the company let go of chief executive Dov Charney.
Mergers and acquisitions reach highest volumes since the financial crisis December 22, 2014 This year, mergers and acquisitions climbed to their greatest volumes since the height of the financial crisis. Worldwide, the takeover deals amounted to $3.34tn in value – a 47 per cent increase compared with 2013. The last time they amounted to more than this was in 2007. According to the Financial Times, the [...]
Aer Lingus rejects takeover bid by British Airways owner IAG December 18, 2014 Aer Lingus has rejected a takeover bid by International Consolidated Airlines Group (IAG), the latter said in a statement to the London Stock Exchange today. It confirmed an earlier report it had made a takeover bid for the company. IAG, the company behind British Airways and Spanish flag carrier Iberia, also said there was no certainty of [...]
Catlin share price soars 10 per cent on £2.5bn takeover approach from XL Group December 17, 2014 Shares in insurer Catlin whizzed up 10 per cent today after the group said it is in talks with XL Group over a possible takeover which would value it at $3.9bn (£2.5bn). XL Group would pay 410 pence per share in cash and 0.130 share for each Catlin shares, the Lloyds of London insurer said [...]