BDO’s UK outfit records 27pc turnover boost November 18, 2014 The UK arm of international accountancy and advisory firm BDO yesterday announced a 27 per cent increase in turnover for the financial year ended 4 July. BDO saw its turnover grow to £384m. The firm also boosted operational profits by 42 per cent to £78m. The 2013/14 results were the first to reflect the company’s [...]
Informa sells shares to fund £237m Hanley Wood purchase November 18, 2014 MULTINATIONAL publishing and events company Informa yesterday announced a share sale to fund the £237m acquisition of American trade show firm Hanley Wood Exhibitions. The London-based Informa said it was to place 60.4m new shares – accounting for 10 per cent of its capital – with both existing and new institutional investors. It said the [...]
Rob Terry departs Quindell: How Gotham City got its man November 17, 2014 Quindell, the London stock-market listed group targeted for months by a short-selling research group Gotham City, was yesterday forced to part company with its chairman in an effort to restore investor confidence. The decision that Rob Terry should leave came hours after it was announced that broker Canaccord Genuity had quit on 21 October, ahead [...]
Canaccord departs Quindell: When a listed company’s broker quits, it usually means bad news November 17, 2014 Brokers to stock-market listed companies tend to stick around for the long-term, so when they exit abruptly there is usually a good reason for it. Canaccord’s departure from Quindell appears to have taken the market by surprise, but its decision to go follows a controversy over share-dealing by the directors. In May 2008, less than [...]
Henderson hits back in board spat with Ross November 17, 2014 The board of the Henderson Value Trust yesterday responded to reports about a disagreement which led to its chairman Shane Ross resigning. In a statement to markets yesterday morning, the board said it thought it was “regrettable” Ross had briefed the Sunday Telegraph about “differences of opinion” on the board. Ross had claimed that parts [...]
Busy M&A firms offer most to shareholders November 17, 2014 COMPANIES significantly underperform the market during periods when they announce no M&A activity – either acquisitions or divestments – and even more significantly underperform companies active in announcing M&As. That is the conclusion of a report published yesterday by Intralinks, a global provider of enterprise collaboration solutions, in partnership with City University London’s Cass Business [...]
Caterham F1 revs up for Abu Dhabi suitors November 17, 2014 CASH-STRAPPED Formula One team Caterham F1 is heading to the Abu Dhabi Grand Prix next weekend in a bid to woo potential buyers in the region. The British team’s administrator is in talks with a number of interested parties and will have further meetings with suitors when out in Abu Dhabi for the race. A [...]
Cabot Square acquires Blue Motor Finance November 16, 2014 CABOT Square Capital, the specialist financial services private equity investor, has bought car finance provider Blue Motor Finance, the private equity firm told City A.M. yesterday. Sources close to the transaction understand that Cabot Square planned to invest around £30m-£40m in the company. The Cheshire-based Blue Motor Finance has also obtained a new £200m long-term [...]
US investment firm Ares Management bids for Farrow & Ball in £300m deal November 16, 2014 Ares Management, a Los Angeles-based alternative asset manager, is in negotiations to buy the British paint manufacturer Farrow & Ball in a deal worth up to £300m, it was revealed yesterday. The US investment firm – owner of upmarket American department store Neiman Marcus – is thought to have bid between £250m and £300m for [...]
Deloitte launches £25m fund for employees to create their own startup businesses November 16, 2014 Big four accountancy firm Deloitte today announced it had started a £25m internal investment fund to allow its employees to create their own startup businesses. If their idea is chosen, employees will be given funding and allowed to work full time on developing their business ideas while receiving “incubator” support from the firm to turn [...]
