Smith & Nephew buys skin heal firm in bid to dominate sector November 28, 2012 MEDICAL technology firm Smith & Nephew yesterday continued its push into the wound healing market by striking a $782m (£487.5m) deal to buy a US company specialising in spray-on treatment for cuts and grazes. The FSTE 100 listed company will buy the assets of Texas-based Healthpoint Biotherapeutics in a $782m all cash deal as it [...]
MegaFon prices London IPO at bottom of range November 28, 2012 Russian telephone network MegaFon this morning priced its London flotation at the bottom of a $20-$25 range, valuing the firm at $11.1bn (£6.9bn). The business is controlled by Russia’s richest man Alisher Usmanov, the part-owner of Arsenal football club. The float will raise $1.7bn with an initial free float of 15.2 per cent of shares. [...]
Usmanov seals London float as price struck low November 27, 2012 BANK advisers to Alisher Usmanov’s mobile telecoms group Megafon were last night expected to price the group’s shares at the bottom of a guided range, valuing it at around £7bn, in what is one of the largest share issues this year on the London market. Megafon is Russia’s second largest mobile phone group, controlled by [...]
Megafon set to float in London as investors line up for shares November 26, 2012 ALISHER Usmanov’s Russian telecoms group Megafon appeared to be on track to successfully pull off its £1bn plus flotation yesterday, with banks saying the controversial share sale had attracted sufficient investor demand. The listing of Russia’s second-largest mobile phone firm was nearly killed at its inception when the intention to float announcement was accompanied by [...]
Argentine floods hit food prices November 26, 2012 Flood-hit Argentina will harvest corn later than expected this season, supporting already-high world food prices as consumer nations are forced to rely longer on thin US supplies. Argentina is the number two corn exporter after the US, where the worst drought in decades trampled this year’s crop. With food stocks hit by dry weather in [...]
Moonpig signs off year with jump in profits November 25, 2012 MOONPIG.COM, the online greetings card company, reported a 20 per cent rise in sales last year driven by growth at both its core and personalised card divisions. The internet retailer, founded 12 years ago by ex-commodities trader Nick Jenkins, said sales rose £7m to £45.8m in the year to 30 April. Profits jumped 10 per [...]
BP eyes a stake in new gas pipe link with Russia November 25, 2012 BP is in talks to invest in the key gas pipeline between Russia and Europe, sources said yesterday. The oil major is having preliminary discussions about taking a stake in a project to extend the Nord Stream pipeline into the UK. Nord Stream currently runs pipes from Vyborg in Russia to the German town of [...]
What is your opinion on SABMiller going forward? November 22, 2012 EDDY HARGREAVES | CANACCORD GENUITY Our expectations were originally lowered due to weaker currencies and to an increased concern about European trading. However, Europe is not quite as bad as we feared and an improved performance in Russia looks positive. We believe the shares lack a catalyst, so we remain at ‘hold’. JAMES EDWARD JONES [...]
Top StanChart exec joins WHSmith board November 22, 2012 TOP banking executive Annemarie Durbin has been drafted in at high street retailer WH Smith as a non-executive director. Durbin, currently group head of corporate governance, property, environment and security at Standard Chartered, will replace Mike Ellis who steps down in January. Durbin, who has been at Standard Chartered Group for 17 years and worked [...]
What the other papers say this morning November 21, 2012 FINANCIAL TIMES Man Group gains from prototype Man Group, the world’s second largest hedge fund manager, has shifted $1.5bn (£940m) of its flagship computerised fund AHL into an experimental new portfolio to boost ailing returns. The new vehicle, which Man has internally dubbed “evolution”, has made 18 per cent so far this year, and made [...]