Cement giants outline £25bn merger April 7, 2014 THE WORLD’S two largest cement companies yesterday confirmed their plans to merge, outlining £4bn of divestments in an attempt to assuage competition concerns. France’s Lafarge and Swiss firm Holcim unveiled a share-for-share deal, which would create a self-proclaimed “merger of equals” with sales of €32bn (£26.5bn) and core earnings of €6.5bn. Bruno Lafont, chairman and [...]
The UK Holcim-Lafarge assets that could be up for sale April 7, 2014 The Holcim Lafarge mega-merger will result in a number of asset disposals across multiple jurisdictions to avoid the wrath of the competition regulators. The UK will most likely play a part in the world’s largest cement makers’ plans for €4.9bn (£4bn) of divestments – providing opportunities for existing or new players to tap into the [...]
Here’s what the world’s biggest investment banks are saying about today’s cement giants merger April 7, 2014 Investment banks JP Morgan and UBS have given a ringing endorsement to the news that Holcim and Lafarge, the world's two largest cement companies, were in advanced merger talks on Friday. On Monday, the companies confirmed plans for a merger that could potentially control 40 per cent of cement manufacturing, with a market cap of [...]
Complaints about energy companies surge by 224pc April 7, 2014 The bad news just keeps on coming for Britain's energy companies. The number of complaints about energy providers has surged by 224 per cent for the first three months of 2014, according to the sector's ombudsman. Complaints from distressed customers rose from 3,277 for the first three months of 2013 to 10,628 for the same [...]
Cement makers ready to tackle antitrust rules April 7, 2014 A MEGA merger between the world’s two largest cement companies will most likely result in asset disposals to overcome competition concerns. On Friday, French company Lafarge, which owns British cement manufacturer Blue Circle Industries, and Swiss rival Holcim, said that they were in advanced talks over a possible deal, which would create a combined company [...]
Kingfisher bids for French rival Mr Bricolage April 3, 2014 EUROPE’S biggest home improvement retailer Kingfisher has bolstered its presence in France by agreeing to buy smaller rival Mr Bricolage for €275m (£227m) including debt. The B&Q owner, which makes about half of its annual profit in France, said it has entered exclusive talks to buy 26.2 per cent of the share capital from the [...]
Sorry Ofgem: Why simpler energy tariffs are not in consumers’ interests April 3, 2014 OFGEM says that energy customers want simpler tariffs. To that end, it has limited energy suppliers to at most four tariffs. It has also prohibited various discounts, charges and special offers. But is this what customers expected from “simpler tariffs”? Would they still support that policy if they knew what it would mean? Findings from [...]
Regulator confirms probe into UK credit card market April 3, 2014 The Financial Conduct Authority (FCA) has announced its decision to run a competition review into the UK’s credit card industry. The regulator says it’ll focus on how it deals with those who are already in financial difficulty, in particular. 30m people hold at least one credit card in the UK, with 56m credit cards in [...]
Watchdog drops most of hospital break-up order April 2, 2014 THE NEW competition watchdog has rowed back on break-up plans for London’s private hospitals, in a surprise decision that has been welcomed by some companies but left others baffled. After two years of investigations the Competition and Markets Authority, known until this week as the Competition Commission, said one or two London hospitals must be [...]
How we’re revitalising markets for economic growth April 2, 2014 MARKETS when they work well are incredibly powerful. When we drive around we don’t have to think about the supply chain needed to produce the 30,000 or so parts that go into a modern car. As we shop for groceries we don’t need to consider what it takes to assemble fresh food from dozens of [...]