Biotech BenevolentAI to make £1.3bn market debut in Europe’s biggest Spac deal December 6, 2021 British biotech BenevolentAI has today agreed to go public at a €1.5 billion (£1.3bn) valuation in Amsterdam via Europe’s largest-ever merger via a special acquisition company (Spac). BenevolentAI’s deal with Odyssey, a blank cheque company founded by dealmaker brothers Michael and Yoel Zaoui, will allow it to raise €390 million (£332 million) ahead of its [...]
Deliveroo shares sink to record lows amid fears of EU gig economy crackdown December 6, 2021 Shares in Deliveroo slumped as much as 9.6 per cent this morning following reports of the European Commission’s proposed labour rule changes that would influence rider remuneration. European rivals Just Eat and Delivery Hero also fell around 6 per cent on fears that the strict new rules could hamper their profitability. It comes just days [...]
Canadian biotech Ondine picks London and floats in £104m IPO December 6, 2021 London’s life sciences assets have been boosted this morning as Canadian-headquartered Ondine Biomedical made its debut on the Aim market at a valuation of £104m. Ondine raised around £23m prior to the listing, and it plans to use the IPO funds to roll out its first product, a “photo-disinfection liquid treatment” that is says destroys [...]
London Stock Exchange shares jump on news it will acquire Quantile for £274m December 6, 2021 Shares in London Stock Exchange Group (LSEG) rose 1.3 per cent this morning, after the bourse said it has agreed to buy Quantile Group, in a bid to strengthen the risk management solutions it offers traders. In a statement released today, the UK’s stock exchange said it would pay as much as £274m for Quantile, [...]
Franco Manca owner Fulham Shore toasts doubled revenue December 6, 2021 The company behind pizza chain Franco Manca and The Real Greek saw its revenues jump 103 per cent in the first six months of its financial year to £39.5m, up from £19.9m a year earlier. Its half year sales were also 10 per cent ahead of its £36m revenues in the same period in 2019, [...]
Steal the deal: Discovery in talks with BT Sports to derail sale to DAZN December 5, 2021 US media giant Discovery is in talks with BT Sports over a potential partnership deal that would derail months of talks with sports streaming service DAZN over a £600m outright sale. As talks between DAZN and the telecoms group have become mired over commercial details, Discovery has entered the mix with an alternative offer for [...]
Pfizer accused of funding anti-AstraZeneca information December 5, 2021 US drugmaker Pfizer, the world’s dominant Covid vaccine maker, has been accused of funding educational presentations that said its UK rival AstraZeneca was ineffective and even dangerous for some members of the population. A Channel 4 Dispatches investigation due to be broadcast this week says it has “uncovered evidence” that Pfizer funded a number of [...]
Six Nations stakeholder CVC hires Goldman to plot £11bn IPO December 5, 2021 London-based private equity giant CVC Capital Partners is reportedly working with Goldman Sachs to prepare to follow in Bridgepoint’s footsteps with a blockbuster stock market listing. CVC, which boasts Six Nations rugby and RAC among its portfolio, is working with the bank on a potential float that could value it at up to £11bn, the [...]
Triple whammy: SoftBank shares slide 3.5 per cent after rocky 24 hours for Didi, Arm and Grab investments December 3, 2021 Shares in Japanese conglomerate Softbank sank as much as 3.5 per cent today after three of its high-profile investments Didi, Arm and Grab were hit with setbacks in the last 24 hours. The investment giant’s shares dropped as low as 5,423 yen ($47.89) today, before settling slightly higher, but with losses of 23 per cent [...]
Mind Gym appoints new finance chief as new digital offering helps wipe out losses December 3, 2021 Workplace training provider Mind Gym said it had wiped out the losses it incurred in the last year and a half, after its financials had a rocky ride due to Covid lockdowns impeding on its face-to-face offering. The group also announced the appointment of Dominic Neary – previously a finance chief at Just Eat and Moneysupermarket.com [...]