M&A comeback this year is led by mega-deals November 23, 2014 More than $2.5 trillion (£1.6 trillion) worth of mergers and acquisition (M&A) deals have been announced so far this year. The figure marks a 30 per cent increase on last year’s $1.9 trillion and is also set to be the best year for M&A deals since 2007, according to data released today by financial services [...]
Botox maker Allergan accepts $66bn Actavis takeover bid as Valeant walks November 17, 2014 Botox maker Allergan yesterday accepted a $66bn (£42bn) takeover bid from Actavis, creating one of the top 10 biggest pharmaceutical companies in the world. The takeover ended a seven-month hostile pursuit by activist investor William Ackman and Valeant Pharmaceuticals International. Dublin-based Actavis offer amounted to billions more than Canada’s Valeant was prepared to pay. Valeant [...]
Botox maker Allergan in £40bn takeover agreement with rival Actavis November 17, 2014 Botox maker Allergan is set to fall into the hands of Dublin-based rival Actavis after the two firms last night neared a landmark $62.5bn (£40bn) takeover agreement. The deal, which would be Actavis’ third big takeover in a year, is expected to be unveiled as soon as today after it offered up to $215 [...]
Halliburton takeover attempt for Baker Hughes starts to turn nasty November 16, 2014 A fight for control of a major American oil field services company appears to be brewing, as Baker Hughes has disclosed that its larger rival Halliburton has threatened to replace its entire board. The move by Halliburton came after an impasse in merger talks between the two, which, if completed, would be one of the [...]
Sky credit rating downgraded following £7bn takeover of Sky Italia and Sky Deutschland November 13, 2014 Sky’s long-term corporate credit rating has been cut following the completion of its £7bn takeover of Sky Italia and Sky Deutschland yesterday. Standard & Poor’s downgraded Sky’s credit rating from ‘BBB+’ to ‘BBB’ as it estimated the group would raise a “significant amount of debt to part-find the acquisitions”. The credit ratings agency [...]
Bwin.party looks to gamble on talks over possible £1bn takeover November 12, 2014 ONLINE gaming company Bwin.party announced yesterday it was in early talks with a number of unnamed parties concerning a potential offer for the company, which could value it at just over £1bn. The Gibraltar-headquartered firm issued the statement in response to speculation over a possible takeover. Its shares closed up 10.48 per cent at 119.1p [...]
Connect Group buys Tuffnells in £130m takeover November 12, 2014 Newspaper and magazine whole-saler Connect Group yesterday ann oun ced a nearly-£130m deal to takeover Tuffnells Parcels Express, saying that it has a “strong strategic fit” with its business. The deal consists of an initial £113.4m, funded through Connect’s ex ist ing debt facilities, and a £55m rights issue, and an additional £15.3m over [...]
Bwin.Party share price soars as it confirms takeover talks November 12, 2014 Shares in FTSE-listed Bwin.Party soared by more than 10 percent this afternoon, after the online gambling company was forced to confirm rumours it was in early acquisition talks. The statement issued to the London Stock Exchange entitled "media speculation" said: The Board of bwin.party confirms that it has entered into preliminary discussions with [...]
InterContinental share price rises after hotel group rejects Marcato report suggesting merger would see share price double November 11, 2014 Activist US hedge fund Marcato Capital Management yesterday lit a fuse under the independence of British hotels giant InterContinental Hotels Group by calling for the firm to actively seek a merger, claiming it could double its share price. The San Francisco-based Marcato also publicly released a report it had commissioned from LA-headquartered financial advisers Houlihan [...]
Songbird Estates share price falls after £1.6bn Qatari takeover bid for Canary Wharf is rejected November 7, 2014 A £1.6bn takeover offer for Songbird Estates has been rejected by the Canary Wharf owner. The offer, at 295p per share, was made by the Qatar Investment Authority (QIA) and US investor Brookfield Property Partners. The Qatari sovereign wealth fund already holds a 29 per cent stake in Songbird, whose investment portfolio is [...]