Virgin Money will bid for the Rock October 24, 2011 VIRGIN Money will submit a second round bid for nationalised bank Northern Rock today, billionaire investor Wilbur Ross, who is a major shareholder of Virgin Money, has said. “We are big investors in Virgin Money, Richard Branson’s company, and we are backing Virgin in their bid for Northern Rock,” the chairman and chief executive of [...]
Plus Markets investor revolt may oust chair October 24, 2011 SMALL-CAP stock market Plus Markets was told to kick out its chairman by its second-biggest shareholder yesterday, in a revolt after years of poor returns at the company. Arab investor Amara Dhari, the company’s second-biggest shareholder, told Plus to call a general meeting to discuss replacing chairman Giles Vardey with Plus’s ex-boss Simon Brickles, who [...]
Parseq board backs takeover October 24, 2011 ONLINE banking specialist Parseq has backed a takeover bid led by the company’s chief executive Rami Cassis. The board said it supports the £33.8m offer, which is backed by Nova Capital and HarbourVest Partners, for the privately held firm. Independent director Richard Last said: “As a private company with a strong parent, Parseq will benefit [...]
DDD announces a Sony tie-up October 24, 2011 DDD Group yesterday announced it has signed a licensing agreement with Sony to use its TriDef technology in the new range of Vaio S-Series laptops. The 3D graphics company says the technology will automatically convert 2D games into 3D when users have the requisite hardware. It says the partnership marks the first time that 2D [...]
Thomas on growth track after Apax’s $680m sale October 24, 2011 THOMAS the Tank Engine is set to travel further into new markets after parent company Hit Entertainment was sold to US toy giant Mattel for $680m (£425m). Private equity house Apax Partners yesterday agreed to sell the firm to Mattel, best known for its Barbie and Fisher-Price brands. A deal, worth up to $1.5bn, was first [...]
Beam tipped for buyout by a global rival October 24, 2011 JUST three weeks after listing as an independent company, the maker of Jim Beam bourbon whisky has been tipped as a potential takeover target by rivals such as Diageo or France’s Pernod-Ricard. Beam listed as a pure-play drinks firm on 4 October after being spun out of Fortune Brands, but is seen as an attractive [...]
Fuller’s splashes out to boost London portfolio October 24, 2011 FULLER, Smith & Turner is paying £16m for five pubs as it moves to boost its estate in time for the Olympics next summer. Fuller’s is buying The Wellington at Waterloo, The Pavilion End and Bluu in the City, The Hand & Flower in Kensington Olympia and the Red Lion Hotel in Wendover, Bucks The [...]
National Grid sells Onstream October 24, 2011 NATIONAL GRID said yesterday it has sold its metering division to Macquarie Bank, in a deal worth £275m. Utility Metering Services, known as Onstream, joins Macquarie’s portfolio of UK assets, which also includes the M6 toll road. It was set up by National Grid in 2001 and covers more than 4m gas meters across the UK, [...]
Tate & Lyle faces closure of plant October 24, 2011 THE HISTORIC Tate & Lyle sugar refinery in east London may be forced to close, as its American owners are hit by new import tariffs imposed by the European Commission. ASR, which bought the 133-year oldplant in Silvertown from Tate & Lyle last year and licensed its brand name, has so far had to pay [...]
Keystone on target to top oil estimates October 24, 2011 GULF Keystone Petroleum said yesterday it expects to shortly increase its oil reserves estimates at one of its exploration fields in Kurdistan. It told investors in a market update that the Shaikan field project held between five and 10 per cent more oil than originally thought, having examined new 3D data. Previous estimates had put [...]
