London Stock Exchange-Deutsche Boerse merger could lead to 1,250 job losses June 1, 2016 The London Stock Exchange and Deutsche Boerse could cut up to 1,250 jobs if their planned merger goes ahead. The companies are targeting annual cost savings of at least €250m (£194m) in the fifth year after completion of the deal, and €160m in the third year. This is in addition to €450m of annual cost synergies previously announced and expected [...]
Goldman Sachs president positive on 2016 M&A despite slowdown on record 2015 June 1, 2016 Goldman Sachs has a positive outlook for mergers and acquisitions (M&A) activity in 2016 despite a slow start to the year. The bank’s president, Gary Cohn, has said the conditions that led to a record year for M&A in 2015 still exist, as he talked up the business’s future prospects. Read more: Oil and gas [...]
It will be “a marathon rather than a sprint”: Bayer’s takeover of Monsanto might take a while June 1, 2016 The chief executive of Bayer has said its attempted takeover of US GM seeds company Monsanto will be a “marathon rather than a sprint”. The German drugs and chemicals giant confirmed it had made a $62bn (£42bn) offer for Monsanto last Monday. It was rejected the next day, but both companies have indicated a willingness [...]
Baird teams up with Brazilian bank BR Partners for European M&A expansion May 31, 2016 US investment bank Baird, is joining forces with Brazilian bank BR Partners in a so-called strategic alliance. The partnership is intended to increase the number of US and European mergers and acquisitions both in to and out of Brazil. According to Baird the UK and Europe need to diversify their M&A activity away from the [...]
Deutsche Boerse could become US takeover target if London Stock Exchange merger fails, chief executive says May 31, 2016 Deutsche Boerse could become a US takeover target if its merger with the London Stock Exchange (LSE) fails, its chief executive has said. Carsten Kengeter has suggested Chicago-based CME Group could become interested in the German company should the £21bn “merger of equals” fail. Speaking of potential interest from CME Group, Kengeter said: “I don’t [...]
London-based private equity firm takes “significant stake” in German car parts maker May 31, 2016 Private equity company 3i has acquired a “significant equity stake” in a German car parts maker. The group has also invested €181m (£139m) in Schlemmer, which is being purchased from Hannover Finanz and the Mackprang Holding for an undisclosed price. Schlemmer, which was founded in 1954 and is based in Poing, near Munich, employs 2,500 people [...]
Bayer’s share price remains low as investors await improved Monsanto offer May 30, 2016 Bayer’s share price remained at around its lowest level since 2013 today, suggesting investors are nervously awaiting an improved takeover offer for US seed firm Monsanto. The drugs and chemicals giant confirmed it had made a $62bn (£42bn) takeover offer last Monday. The next day, Monsanto rejected the offer, but both firms have signalled an interest in making the deal [...]
Activist hedge fund investor gives blessing to London Stock Exchange merger May 30, 2016 An activist hedge fund shareholder of the London Stock Exchange (LSE) has given the Deutsche Boerse merger its blessing. The backing from the Children’s Investment Fund (TCI) founder Christopher Hohn comes after the investor played a prominent role in derailing a Deutsche Boerse takeover of the LSE in 2005. However, TCI has now become the [...]
Alliance Trust confirms merger approach from Jacob Rothschild’s RIT Capital May 30, 2016 Alliance Trust has confirmed it has received an "unsolicited approach" from RIT Capital Partners over a possible merger of the investment trusts. Alliance said no detailed terms have been provided by RIT, which is chaired by Jacob Rothschild, in relation to the "informal proposal". A merger would create a company with a market capitalistion of more than [...]
Gawker said to be exploring sale following Hulk Hogan lawsuit May 26, 2016 US news and gossip website Gawker Media is said to be exploring a sale after losing a court battle with wrestler Hulk Hogan. Gawker has reportedly hired investment bank Houlihan Lokey to explore options after it was ordered to pay out $140m (£95.6m) to Hogan. Read more: Media and entertainment execs want deals – and [...]
