Aviva meets criticism over Friends Life deal November 24, 2014 Analysts have warned that Aviva’s share price could continue to decline, following news that the insurance group is in talks concerning a £5.6bn merger with rival Friends Life. Shares dropped by more than five per cent yesterday when the markets opened for the first time since the news broke. “The market is in a state [...]
Aviva share price falls as Friends Life shares rise: Surprised market reacts to deal bombshell November 24, 2014 The market was divided yesterday following the announcement of a planned merger between insurer Aviva and its competitor Friends Life. Aviva saw its shares fall by more than five per cent during the day, while shares in Friends Life climbed by six per cent. Most analysts agreed that the announcement was surprising, with [...]
Petrofac slump weighs on FTSE amid M&A flurry – London Report November 24, 2014 BRITAIN’S top share index edged lower yesterday, weighed down by a slump in Petrofac after it predicted low net profits, but M&A talk kept it near a two-month high. Smith & Nephew and Friends Life were said to be likely subjects for bids, and BT confirmed it might expand into mobile communications. The benchmark FTSE [...]
Aviva’s £5.6bn merger with Friends Life still to convince City November 24, 2014 The proposed £5.6bn merger between the insurer Aviva and its rival Friends Life will come under intense scrutiny when trading opens for the first time since the news broke after the markets closed on Friday. Although many in the City have viewed the move as a positive one for Aviva, not all are approving. “The [...]
Aviva has some work to do to finalise deal – Editor’s Letter November 23, 2014 Panmure Gordon, the independent stockbroking firm, made a name for itself last year when one of its analysts calculated the government was planning to sell the Royal Mail at £1bn less than what the firm thought it was worth. Subsequent events showed Panmure had been right to be bullish on the firm’s valuation, at least [...]
City Moves for 21 November 2014 | Who’s switching jobs November 20, 2014 Berenberg The bank has announced the promotion of David Mortlock to head of its London office. He joined Berenberg in 2010 as head of sales and has been global head of equities since 2013. Mortlock previously held positions at Schroders, Citigroup and MF Global. Edmond de Rothschild Group Marcus Money-Chappelle has been appointed head of [...]
Star-studded friendlies make for taxing Euro 2016 build-up November 19, 2014 ENGLAND football bosses have taken steps to ensure the Three Lions face top quality opposition ahead of the 2016 European Championships by announcing high-profile friendlies against world champions Germany and France. The Football Association (FA) is also in talks with Holland and European title-holders Spain in a bid to design a programme which tests England [...]
Ireland hit United States for four as Ronaldo and Messi fail to fire November 18, 2014 REPUBLIC of Ireland bounced back from their Euro 2016 qualification setback against Scotland to brush aside the United States 4-1 in a friendly clash at the Aviva Stadium in Dublin last night. Hull City’s Robbie Brady netted twice as Anthony Pilkington and James McClean also registered for Martin O’Neill’s side, with Max Diskerud on target for [...]
AA puts former deal king Martin Clarke in the finance hot seat November 13, 2014 Roadside recovery giant AA yesterday appointed an ex-senior private equity dealmaker to take the reins as chief financial officer of the 110-year-old business. Martin Clarke, a former executive at private equity firm Permira, will replace Andy Boland, who stepped down earlier this year as the finance chief of the firm. Clarke was part [...]
Aviva Investors’ Euan Munro on why markets will see more Wobbly Wednesdays November 11, 2014 It’s lunchtime at Aviva Investors’ offices at No.1 Poultry, but the three platters of fish, meat and vegetable sandwiches supplied by catering lie untouched on the table. Euan Munro, chief executive of the fund management house, is sitting drinking full fat Coca-Cola from a glass, while the pungent aroma of the Coq d’Argent restaurant upstairs [...]