Private equity giants eye bid for part of Priory hospitals empire October 2, 2016 Private equity giants, including former Phones4U owner BC Partners, are finalising bids for 19 hospitals being offloaded by US healthcare giant Acadia. The deal could raise as much as £300m for Acadia Healthcare, which bought the Priory hospital for £1.5bn in January. Acadia’s purchase of Priory – best known for treating celebrities including super model [...]
Ovo Energy makes first profit as smart meter push pays off September 30, 2016 Independent energy supplier Ovo made a pre-tax profit for the first time in its seven-year history, helped by improved customer tenure and as "being a first mover with smart meters paid off". The company said today that its pre-tax profit hit £30.4m in the six months to 30 June, up from a loss of £3.6m a year earlier. [...]
Watchdog reveals new plans for taping bankers’ calls as it announces potential tweaks to incoming red tape September 29, 2016 The City watchdog has today revealed proposals to bolster a critical piece of incoming red tape, including extended plans for taping bankers' phone calls. The Financial Conduct Authority (FCA) has published its third consultation paper on the implementation of the revised Markets in Financial Instruments Directive, which is due to come into force in January 2018, and is a [...]
Competition and Markets Authority to investigate price comparison websites September 29, 2016 The UK's competition watchdog is launching a wholesale review into price comparison websites to investigate how they make their money and whether they really do help consumers get the best deals. The Competition and Markets Authority (CMA) announced the review this morning – the latest in a long-line of high-profile probes the body has conducted including [...]
UK Mail delivers substantial returns to shareholders as it agrees terms for £243m takeover by Deutsche Post September 28, 2016 Shares in private postal company UK Mail leapt over 40 per cent this morning after its board announced it had a agreed terms for a takeover by Deutsche Post. The deal values the FTSE-listed company at £243m and the cash offer of 440p a share represented a 43 per cent premium to yesterday's closing price. Read more: [...]
What is the worst policy to come out of the Labour party conference so far? September 26, 2016 Dan Lewis, senior infrastructure policy adviser to the Institute of Directors, says the ban on fracking. Fracking has been transformative for the United States, leading to reshoring of manufacturing, bringing down energy prices, reducing emissions, creating jobs and raising taxes. No serious US politician seeking power wants to reverse that. And in this country, it will [...]
How this challenger bank used the Brexit vote as an opportunity and broke even in less than a year September 21, 2016 New company founders are frequently told to plan to spend their first few years languishing in the red. Now one challenger bank has proved it is possible to buck the trend, and the recent Brexit vote may have given it a nudge in the right direction. OakNorth Bank today revealed it has broken even and inched into profitability, [...]
Here’s the magic age parents think their kids finally become financial adults September 19, 2016 Parents and kids should prepare themselves for a long old ride when it comes to forking out financially. Mum, Dad, and their bank, expect to be supporting their offspring until the ripe old age of 29, new research reveals. Parents say they're likely to splashing out on the usual markers of their child entering adulthood, [...]
Hollywood Bowl Group aims for a strike as it announces IPO price September 16, 2016 Hollywood Bowl Group announced an IPO price of 160p per share, which would give it a market capitalisation of £240m. The company said today that it has placed 113,283,274 shares in an offer which is expected to raise £181.3m. Dealing is expected to start on 21 September, it added. City A.M. revealed yesterday that the group was [...]
Biggest deal of 2016 agreed – but large hurdles await Bayer and Monsanto’s $66bn tie-up September 14, 2016 Bayer, the German chemicals maker, clinched a $66bn (£50bn) takeover of controversial US seeds company Monsanto yesterday, marking the biggest deal of 2016 and the largest all-cash transaction on record. The agreement was reached after months of negotiations, with GM-seeds producer Monsanto accepting Bayer’s fourth bid of $128 per share. The mammoth tie up still [...]