ADVISERS MELROSE BID FOR ELSTER June 18, 2012 KEITH ANDERSON INVESTEC INVESTEC is acting as financial adviser to Melrose on its recommended cash offer for the entire issued share capital of Elster. Investec’s Keith Anderson, co-head of corporate broking and Investec veteran, is leading the deal. Anderson has advised Melrose before, having worked with Investec managing director Chris Baird on the company’s secondary [...]
Merchant Secs chief Claridge leaves the firm June 17, 2012 PATRICK Claridge has relinquished the reins of Merchant Securities, the financial services firm he has led since 2006, it emerged yesterday. Claridge vacated his office on Thursday, he told City A.M. last night, insisting that his departure was on friendly terms and “was always part of the plan”, following Sanlams’s buyout of Merchant last February. [...]
Shell looks into improved offer for Cove Energy June 17, 2012 THERE WAS growing speculation over the weekend that Royal Dutch Shell will raise its offer for energy explorer Cove, after the firm extended its bid deadline for the second time. Shell said last week that shareholders in Aim-listed Cove now have until 27 June to accept its £1.12bn or 220p per share offer, but the [...]
Shell extends offer deadline to try and win over Cove investors June 14, 2012 ROYAL Dutch Shell has given itself more time to decide the next move in its battle to buy Cove Energy, extending the acceptance deadline on its £1.12bn bid as it vies with Thailand’s PTT for an entry into East Africa’s big new offshore gas play. Shell said yesterday it was extending the deadline for Cove [...]
BSkyB and BT spent £3bn to show Premier League June 14, 2012 Shares in BskyB and BT have fallen after markets reacted to their decision to pay £3bn to receive legal rights to broadcast English Premier League football. BSky’s shares fell by seven per cent and BT’s by three per cent. BT is to show 38 games a season in 2013-14 and the remaining 116 games will [...]
ADVISERS CAIRN BID FOR VEDANTA June 13, 2012 ROTHSCHILD, INVESTEC AND RBC CAPITAL MARKETS CAIRN worked with financial adviser Rothschild to make its bid for Nautical. James Smith, a long-time adviser to Cairn and director of Rothschild’s oil and gas team, took the lead. Smith counts French oil major Total and Bowleven among his clients. Rothschild has advised Cairn Energy on 11 transactions [...]
BEST of the BROKERS June 6, 2012 LADBROKES Panmure Gordon rates the bookie as “buy” following the company’s confirmation that its head of trading Jon Thompson has been dismissed pending appeal. Panmure said this is clearly disappointing news but “this cloud may have a silver lining” if superior traders can be recruited. LOGICA Investec recommends “hold” for the tech company’s stock and [...]
George Osborne’s latest tax U-turn is a great Jubilee present May 31, 2012 FOR charities and their donors, including many in the City, George Osborne’s latest and most spectacular u-turn comes as a perfect Jubilee weekend present. The Chancellor had announced in the Budget a limit of £50,000 or 25 per cent of income, whichever was higher, on the amount individuals could donate in a tax-deductible fashion; the [...]
Kissed is made to measure for Investec Oaks win, says Moore May 31, 2012 JOCKEY Ryan Moore believes Kissed can win today’s Investec Oaks because she is “tailor-made” for the nature of the race, despite doubts over her participation. Kissed’s high-knee action has prompted uncertainty over her participation in the race, with trainer Aidan O’Brien unsure if the conditions are suitable for the horse, but jockey Moore believes the [...]
Car insurers set to face inquiry over charges May 31, 2012 THE car insurance industry is set to be investigated by the competition watchdog after it used the cost of repairs and replacement vehicles to jack up premiums by £225m a year. Insurers compete in a “dysfunctional” manner, said the Office of Fair Trading, as it referred the sector to the Competition Commission. The OFT said [...]