Carillion fallout pushes UK M&A deals to all-time lows – but values have risen December 2, 2014 A dry summer for UK mergers and acquisitions, in which Carillion gave up its £2.1bn attempt to to buy Balfour Beatty, has helped to ensure volumes remained at historic lows. The number of deals involving UK companies fell to 67 in the third quarter of 2014, according to figures from the Office of National Statistics released [...]
Sky recruits Lazard bank advisers to explore mobile push as BT confirms takeover talks with O2 and EE December 1, 2014 Sky has appointed advisers, including investment bank Lazard, to examine its UK mobile options, City A.M. understands. The move, first reported by the Financial Times, comes as the telecoms sector has lit up with deal talk over the past week since BT confirmed its takeover talks with O2 and EE to enter the mobile [...]
Canary Wharf owner Songbird keeps Rothschild as Qatari takeover bid adviser despite conflicts spat December 1, 2014 Canary Wharf owner Songbird yesterday categorically refused to drop Rothschild as its adviser on a takeover bid, despite claims that there is a conflict of interest at play. The Qatar Investment Authority (QIA) wants to increase its stake in Songbird and the Canary Wharf Group in a full takeover bid. Its representatives have [...]
Split BT and Openreach: £10bn takeover talks with O2 and EE raise competition concerns for Vodafone and TalkTalk November 26, 2014 BT’s biggest rivals voiced competition concerns last night as the former state monopoly continued £10bn takeover talks with the owners of mobile networks O2 and EE. Vodafone and TalkTalk would both call on the regulator to ensure greater separation between BT and its infrastructure arm Openreach, even going so far as to push for the [...]
Friends Life and Aviva started merger talks months ago November 26, 2014 Insurance firm Aviva has been in talks about a potential merger with Friends Life for a number of months, City A.M. understands. Discussions began when Aviva chief executive Mark Wilson contacted his opposite number at Friends Life, Andy Briggs. But it was only on Friday when Aviva was forced to confirm the talks due to [...]
Finsbury Food Group share price rises after bumper £56m takeover of rival baker Fletchers November 26, 2014 Cake and bread-maker Finsbury Food Group said revenues grew to £57.3m during the four months to 27 September, showing organic growth of 3.9 per cent in the period. The trading statement came ahead of Finsbury’s annual shareholder meeting yesterday, where all the group’s resolutions were passed, and follows its £56m takeover of rival bakeries group [...]
Aviva merger target Friends Life eyed up deal with closed insurance group Phoenix November 25, 2014 Friends Life, which is in merger talks with Aviva, has held informal talks with Phoenix, the closed insurance group, about a possible deal in the past few months, City A.M. understands. News of the talks between the two groups, which are not ongoing and did not reach any conclusion, come as Aviva struggles to convince [...]
Pfizer will be let loose on AstraZeneca again tomorrow – but is another takeover bid likely? November 25, 2014 From tomorrow, Pfizer will once more be able to make a take-over bid for AstraZeneca, after a “final rejection” in May meant it could not approach the UK pharmaceutical firm for six months. The offer was worth £55 per share, valuing AstraZeneca at approximately £69bn. But it was not accepted, on the ground that [...]
Bayer share price up as pharmaceutical company looks to sell peripheral units to fund Zoetis takeover November 24, 2014 The German chemical and pharmaceutical company Bayer is considering selling its $2.5bn (£1.6bn) diabetes device business. The company is working with Credit Suisse on the sale with firms such as Cinven, EQT Partners AB and Triton Advisors possibly lining up bids. Bayer also wants to float its plastics unit on the stock market, according to [...]
Petrofac slump weighs on FTSE amid M&A flurry – London Report November 24, 2014 BRITAIN’S top share index edged lower yesterday, weighed down by a slump in Petrofac after it predicted low net profits, but M&A talk kept it near a two-month high. Smith & Nephew and Friends Life were said to be likely subjects for bids, and BT confirmed it might expand into mobile communications. The benchmark FTSE [...]