Deal-makers are hoping that UK M&A returns to form January 6, 2014 AS WE head into the New Year the City will be cautiously optimistic about likely activity in the corporate finance markets in 2014. Last year saw a major revival in the new issues or initial public offering (IPO) market, which had been virtually dead in 2012. UK IPO revenue totals were 274 per cent up [...]
Standard Chartered would do better being more upfront December 16, 2013 BEFORE and during the financial crisis, which rocked so many banks to their foundations, Standard Chartered could seemingly do nothing wrong. While their rivals dodged in and around write-downs, rescue rights issues and increased impairment charges, the stock of both chief executive Peter Sands and his ebullient finance director Richard Meddings rose sky-high. So highly [...]
Hilton soars on New York debut boosting Blackstone’s profit December 12, 2013 PRIVATE equity giant Blackstone yesterday generated the second biggest paper profit from a buyout float ever, after shares in hotel chain Hilton Worldwide soared nearly 10 per cent on their debut. Hilton, which started trading on the New York Stock Exchange yesterday, rallied to a peak of $21.94 after being priced at $20 a share [...]
Hilton Hotels float raises $2.3bn giving Blackstone huge profits December 11, 2013 INVESTORS checked into Hilton Hotel last night after the private equity-backed chain priced its initial public offering (IPO) near the top end of the range. The company, which was backed by Blackstone in 2007, priced its shares at $20 a piece – raising about $2.34bn after selling 117.6m shares to investors. The IPO is the [...]
Apax Partners picks co-leaders after chief quits December 5, 2013 APAX, the private equity firm behind fashion chain New Look, yesterday handed the keys of the company to two rising stars, part of a new breed of young executives leading buyout houses across Europe. Andrew Sillitoe, 41, and Mitch Truwit, 44, have been named co-chief executive officers, taking over from Apax co-founder Martin Halusa who [...]
New York Report: Wall St falls for fourth trading session in a row December 4, 2013 THE Dow and the S&P 500 finished lower for the fourth consecutive session yesterday after investors found few reasons to make big moves, with uncertainty remaining over when the Federal Reserve will start to slow its stimulus. Stocks fell for much of the session, but edged closer to break-even levels in the last hour of [...]
Hilton hotel and Aramark price New York floats December 2, 2013 THE US new issues market showed no signs of slowing down yesterday after two American hospitality giants with substantial UK operations priced their forthcoming market floats. Hotel operator Hilton Worldwide and catering company Aramark, both backed by private equity firms, announced plans to raise up to $2.37bn (£1.44bn) and $833.8m respectively in initial public offerings [...]
What the other papers say this morning – 02 December 2013 December 1, 2013 FINANCIAL TIMES Mass demonstrations shake Kiev Viktor Yanukovich, Ukraine’s president, was under escalating pressure on Sunday night as hundreds of thousands of protesters poured onto the streets of Kiev demanding the overthrow of his government, after it sought to strengthen relations with Russia at the expense of the EU. With the number of protesters estimated [...]
Fiat boss rules out flotation of Chrysler unit before end of 2013 November 25, 2013 ITALIAN car-maker Fiat said yesterday that a planned initial public offering (IPO) of its US unit Chrysler will not take place this year, prolonging the uncertainty over whether it can reach a deal to buy the stake in the group it does not already own. Yet late last night Chrysler amended its S1 filing with [...]
Trader gets 30 months after Apple wire fraud November 20, 2013 A FORMER trader was sentenced to two-and-a-years in prison yesterday for an unauthorised purchase of about $1bn in Apple stock that eventually led to the demise of financial services firm Rochdale Securities. David Miller, 41, was sentenced by US District Judge Robert Chatigny in Hartford, Connecticut, seven months after pleading guilty to wire fraud and [...]