M&A deal leaks are increasing (and no wonder – they pay off) January 19, 2017 Tougher regulation is failing to prevent leaks around deals, new research out today shows. And no wonder – being loose-lipped about transactions generally pays off. The mergers and acquisitions (M&A) research, by Intralinks and Cass Business School, found 8.6 per cent of deals globally were the subject of leaks, either to the media or other [...]
Goldman Sachs predicts healthcare M&A flurry, helped by Donald Trump January 18, 2017 Wall Street giant Goldman Sachs is predicting a mergers and acquisitions (M&A) flurry in the healthcare sector this year, helped by Donald Trump. After a record 2015 for global M&A, there was a general slowdown in activity last year. Jami Rubin, unit leader of Goldman’s healthcare research group, noted that activity in the sector was “lower [...]
Stock exchange bosses seek to reassure German politicians over London legal HQ January 18, 2017 London Stock Exchange and Deutsche Boerse bosses this week began a push to convince German politicians of the merits of their merger and soothe concerns around the legal headquarters being based in the UK. Politicians in the State of Hesse, where the German exchange is based, have been made aware that no alterations will be [...]
Patisserie Valerie owner nears takeover of upmarket chain founded by Raymond Blanc January 17, 2017 The owner of Patisserie Valerie is nearing a deal to take over an upmarket bakery chain founded by celebrity chef Raymond Blanc. City PM understands Patisserie Holdings came out on top in a competitive bidding process for 13 Maison Blanc sites and has agreed terms for a deal, with the final details being ironed out. Kout [...]
Private equity interest in small British companies survives Brexit uncertainty January 17, 2017 Private equity interest in small UK companies was largely unperturbed by Brexit uncertainty last year, new research out today suggests. Lyceum Capital and Cass Business School tracked 82 buyouts and small and medium sized businesses over the year, 42 in the first half and 40 in the second, worth a total £3.33bn. Read more: Private [...]
British American Tobacco shares fall three per cent after announcing $49bn Reynolds takeover deal January 17, 2017 British American Tobacco's (BAT) share price tumbled four per cent on Tuesday afternoon after it announced a deal to take over US competitor Reynolds. After months of talks between the two firms, BAT has agreed to pay around $49.4bn (£40.8bn) for the 57.8 per cent of Reynolds that it does not already own. Its shares jumped [...]
Welsh water bidding war heats up after activist locals attempt to block Severn Trent takeover January 16, 2017 An investment company is still hopeful of buying a Welsh water company, with angry locals seeking to block the rival bid in an unprecedented case of shareholder activism. FTSE 100-listed utility firm Severn Trent agreed an £84m, £18.25-per-share, takeover for Dee Valley Water in November. However, in a never-before-seen move, the deal was blocked last week [...]
Palamon buys a majority stake in colourful Swedish retailer Happy Socks January 16, 2017 Palamon Capital Partners today announced its acquisition of a majority stake in Happy Socks, a leading whimsical sock designer. The European growth investor's transaction valued the Swedish sock company at SEK 725m (£67.1m), with SEK 40m of growth capital to be injected to support the continued expansion of the business, leading to a SEK 765m enterprise value. [...]
London Stock Exchange hits back at claims City will lose out to Frankfurt after merger January 16, 2017 The London Stock Exchange Group has today hit back at the suggestion its merger with Deutsche Boerse will lead to Frankfurt snatching a large amount of business from the City. Research commissioned by the German exchange claimed the deal, which is currently being probed by the European Commission, would enable Deutsche Boerse to move billions [...]
Ray-Ban owner Luxottica agrees €46bn merger with French lens maker Essilor January 16, 2017 Ray-Ban maker Luxottica has agreed to a €46bn (£41bn) merger with French lens manufacturer Essilor. The Italian eyewear group and its French competitor announced that the combined group will be called EssilorLuxottica and will be listed in Paris – and is expected to generate revenues of more than €15bn. Under the terms of the merger, Luxottica's [...]
