Investec looks to M&A expansion as investment bank gets its Guy January 14, 2015 SOUTH African specialist banking and asset management group Investec yesterday added to its investment banking business with the appointment of veteran M&A adviser Guy Gillett. Working closely with head of consumer Gary Levin, Gillett is charged with strengthening Investec’s M&A offering, particularly focusing on private companies and private equity clients. Gillett joins from Ternion Capital, [...]
Onex looks to resuscitate UK’s Survitec with $680m takeover January 12, 2015 CANADIAN private equity firm Onex yesterday agreed to buy British marine, defence and aerospace survival equipment manufacturer Survitec from US buyout counterpart Warburg Pincus for $680m (£450m). The deal is expected to be completed in the first quarter of 2015. Onex Partners IV will make an investment of approximately $320m for most of the equity [...]
Rangers rejects Phoenix Suns owner Robert Sarver’s revised £20m takeover bid January 12, 2015 Robert Sarver, the American financier and owner of the Phoenix Suns basketball franchise, has once again been disappointed by Rangers. In a statement this morning, the club rejected Sarver's revised offer of £20m for a majority stake in the Glasgow outfit. Rangers believes the offer wouldn't carry the support of the majority of the company's [...]
Shire to acquire NPS Pharma in $5.2bn merger January 11, 2015 UK company Shire is to aquire with NPS Pharmaceuticals, according to a statement by the companies. The two have entered into a merger agreement, with Shire buying all outstanding NPS shares for $46 (£30.48) each, with the total said to be at $5.2bn. According to the statement, Shire will look to accelerate NPS Pharma’s innovative [...]
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 [...]