Fresh twist as billionaire Lim attempts to gazump NESV with £320m offer October 12, 2010 ASIAN billionaire Peter Lim relaunched his bid to buy Liverpool yesterday by making a second, improved offer of £320m for the Premier League club. The bid is bigger than that of New England Sports Ventures, who have signed a deal with Liverpool’s board, pending legal challenges. Lim’s proposal also comes with an extra £40m transfer [...]
PR giant Brunswick tops table of M&A advisers October 12, 2010 BRUNSWICK has kept its position at the top of the global M&A league tables for public relations firms. The PR?giant advised on 131 deals worth a total of $224bn (£142bn) in the first three quarters of the year, according to data from Mergermarket. That gave it a clear lead of $82bn over its nearest rival [...]
Liverpool owners Hicks and Gillett “breathtakingly arrogant” in bid to prevent club’s sale October 12, 2010 EMBATTLED Liverpool owners Tom Hicks and George Gillet were accused of “breathtaking arrogance” yesterday in court for “a calculated breach of contract” designed to delay the club’s sale. Richard Snowden QC, for Royal Bank of Scotland, argued that the American pair tried to sack board members and replace them without the necessary authority, in order [...]
Small-caps and mid-caps see deals return October 12, 2010 MERGER and acquisition (M&A) deals in the small and mid-cap markets saw significant positive growth during the first nine months of the year, according to Reuters data published yesterday. It said mid-cap M&A deals worth up to $500m totalled $489.9bn (£309.6bn) in the first nine months of 2010 – a 35.5 per cent increase on [...]
Partner profit rises at Magic Circle law firm October 12, 2010 Profits per equity partner (PEP) at “Magic Circle” law firm Clifford Chance rose to £933,000 last year, according to the firm’s accounts, after the firm cut more than 40 top end partners. The amount of profits divided by the number of partners soared by 25 per cent from the previous year, when PEP came to [...]
England lose winning habit October 12, 2010 ENGLAND (0) VS MONTENEGRO (0) ENGLAND head coach Fabio Capello defended his team after they were held to a goalless draw at Wembley by Montenegro, a side ranked one place below Burkina Faso. Capello’s outfit failed to breach Montenegro’s stubborn rearguard, which is yet to concede a goal in four Euro 2012 qualifiers, striker Wayne [...]
Business failures in London fall by 16 per cent, says report October 12, 2010 BUSINESS failures in London fell by 16 per cent in the third quarter of 2101 compared to a year earlier, according to a new report. The Equifax Business Failures Report found failures across the country fell by 13.4 per cent year-on-year, with the number of failures for the quarter standing at 6,646. However, this is [...]
US White & Case continues to expand its presence in the City October 12, 2010 WALL STREET law firm White & Case has promoted 35 lawyers into its partnership, with seven in London reaching the top. The promotions, which take effect from the start of next year, will see the firm welcome seven London counsel and associates into its partnership. White & Case, which is based in New York, said [...]
Time to offload Lloyds to save the City’s skin October 12, 2010 Politics can be so unpredictable that a week seems a long time, but there is one prediction that can be made with certainty: a car crash between bankers and politicians just in time for Christmas. The fall out could be so severe that it could lead to the demise of London as a financial services [...]
Invista to sell assets after losing biggest client Lloyds October 12, 2010 INVISTA Real Estate is to be effectively wound up following the end of a major contract with Lloyds Banking Group, it admitted yesterday. The company had been managing assets of £2.4bn on behalf of HBOS since it demerged from the bank in 2006 and listed on the Alternative Investment Market. But on Monday Lloyds Banking [...]
