Liontrust assets to swell by £2.3bn after buying Alliance Trust Investments December 15, 2016 Fund manager Liontrust has agreed to swallow-up Alliance Trust Investments (ATI) in a deal that will swell its assets under management by over a third. The takeover, expected to be completed in 2017, means Liontrust's portfolios will increase from £5.6bn to over £8.0bn. ATI is one arm of three parts of the wider Alliance financial group – the other two [...]
Yahoo hit by largest cyber attack of all time in second mega-hack December 15, 2016 More than one billion Yahoo user accounts have been hacked after the search engine revealed it had been the victim of the largest cyber attack in history. The breach is the second mammoth attack on Yahoo uncovered this year and has affected more than double the number of accounts compared with a breach revealed in September [...]
Punch Taverns takeover: Heineken and pub entrepreneur Alan McIntosh in bidding war December 15, 2016 Punch Taverns is in the midst of a takeover tussle between Heineken and Alan McIntosh, an entrepreneur who was one of the pub company’s founders. Shares in Punch soared as news of the two approaches emerged, ending the day nearly 38 per cent up at 177p. Yesterday morning, City PM revealed that McIntosh has tabled [...]
Brussels regulator sets out hurdles for London Stock Exchange merger December 14, 2016 The London Stock Exchange and Deutsche Boerse last night confirmed receipt of a statement of objections to their merger from the Brussels regulator. The European Commission is understood to have narrowed its focus on to concerns around derivatives clearing. In anticipation of these concerns, the London Stock Exchange said in September that it was exploring [...]
Rupert Murdoch’s 21st Century Fox set to make firm offer for Sky as early as tomorrow December 14, 2016 Rupert Murdoch’s 21st Century Fox is set to lodge a firm offer for Sky as early as tomorrow morning, City PM understands. Fox is not expected to stray from the £10.75-per-share value that it had previously agreed to informally with Sky. Read more: More pressure on Murdoch's Fox-Sky deal as pensions lobby group wades in [...]
New York Stock Exchange agrees deal to takeover fellow US exchange December 14, 2016 The New York Stock Exchange (NYSE) has agreed a takeover deal for the US’ National Stock Exchange (NSX). Founded in Cincinnati, Ohio, in 1885, the NSX was due to close at the end of this week. Read more: UK competition authority tells NYSE owner ICE to sell London-based Trayport But NYSE owner Intercontinental Exchange (ICE) [...]
Vroom vroom: Private equity house announces second acquisition in two days December 14, 2016 A private equity group has announced its second acquisition in two days, today taking a majority stake in a British vehicle hire company. Equistone Partners Europe has bought TOM Vehicle Rental, investing alongside management and the company founder-owner. Read more: Majority steak acquired: Is this the meatiest private equity deal of 2016? TOM was founded in 1991 [...]
EXCLUSIVE: Punch Taverns at centre of takeover battle as entrepreneur bids 185p per share December 14, 2016 Punch Taverns is set to become the focus of a bid battle between Heineken and Alan McIntosh, a wealthy entrepreneur who was one of the company's founders. McIntosh has bid 185p a share for the pub company, City PM revealed today. Heineken has made an approach of 174p a share for the company. Punch Taverns issued a statement saying: The [...]
More pressure on Fox-Sky deal as pensions lobby group wades in December 13, 2016 Rupert Murdoch’s proposed Sky takeover came under further scrutiny today as a pensions lobby group stressed the need for an appropriate premium to be paid for the business. Murdoch’s 21st Century Fox is expected to make a firm £10.75-per-share cash bid for the 61 per cent of Sky it does not already own before the end [...]
You’re the Bayer for us: Monsanto shareholders give nod to $66bn German takeover December 13, 2016 One of the biggest deals announced in 2016 came a step closer to completion today. Shareholders of US seeds company Monsanto gave their backing to a $66bn (£52bn) takeover by German chemicals firm Bayer. Read more: Monsanto tries to dispel seeds of doubt over Bayer tie-up as losses narrow Monsanto said that on a preliminary [...]
