Amaya tells Will Hill shareholder where to stick its Ebitda cash conversion October 18, 2016 Canadian online gambling company has hit back at William Hill shareholder claims about its business after merger talks between the companies collapsed. Last week, after Will Hill confirmed talks between the companies, the UK company’s largest shareholder, Parvus Asset Management, said a deal would have “limited strategic logic and would destroy shareholder value”. Read more: [...]
Bets off: William Hill ends merger talks with Canadian online gambling group Amaya October 18, 2016 William Hill’s £4.5bn merger talks with Canada’s Amaya have come to an end. The bookmaker said this morning that it had ended discussions after consulting shareholders. Read more: Ex-William Hill boss says bookie should abandon Amaya merger plans The FTSE 250 company said in a statement: After canvassing views from a number of William Hill's major [...]
RMT turns down ‘bribe’ from Southern as next three-day strike goes ahead October 17, 2016 Southern’s latest attempt to bring an end to ongoing strike action has been promptly rebuffed by the Rail Maritime and Transport union (RMT). Southern’s last roll of the dice before train guards walk out on another three-day strike at midnight, was putting a lump sum of £2,000 back on the table earlier today. Southern owner Govia Thameslink [...]
BoyleSports is taking its concerns over the Ladbrokes and Gala Coral sale to the CMA October 17, 2016 BoyleSports isn't very happy with the announcement that Ladbrokes and Gala Coral are selling 359 betting shops to Betfred and Stan James. In fact, it plans to take its concerns to the Competition and Markets Authority (CMA) and review its options on what the next steps are, after its bid for the shops was unsuccessful. Read [...]
New York Stock Exchange owner ICE told to sell London-based Trayport by UK competition watchdog October 17, 2016 The UK’s competition watchdog has ruled that US company Intercontinental Exchange (ICE) must sell London-based commodities trading software house Trayport. ICE, the owner of the New York Stock Exchange, bought Trayport last December for $650m (£534m), beating rival CME Group to the deal. Read more: ICE questions UK competition watchdog concerns over Trayport takeover In [...]
The UK has fallen out of the top five M&A destinations for the first time thanks to uncertainty over Brexit October 17, 2016 The UK’s Brexit vote, and resulting uncertainty, has pushed the UK down the pecking order of countries global executives want to invest in, a new report has suggested. But EY’s Global Capital Confidence Barometer predicted that the UK will “bounce back as a top M&A destination of choice” after a short-term “pause for thought”. The [...]
Cosmetics giant Coty confirms GHD takeover October 16, 2016 American cosmetics giant Coty has announced a £420m takeover of British-based hair products manufacturer GHD. Coty – whose brand portfolio spans Rimmel, CoverGirl and OPI – said that GHD's high-performance lines of hair straighteners, hairdryers, curlers and other appliances would "further strengthen" its position in the professional hair category. Coty's chief executive Camillo Pane said: "Not only do [...]
Private equity firms checking out Pure Gym after company proved not quite fit enough for IPO market October 15, 2016 Private equity firms are believed to have expressed interest in Pure Gym after the company withdrew its flotation plans this week. And the company’s board and US private equity backer, CCMP Capital, are understood not to have dismissed the informal approaches. Read more: Pure Gym avoids overstretch as it pulls the plug on IPO plans [...]
“It wasn’t the right fit for us”: Salesforce shares jump as boss unfollows Twitter, ruling out takeover bid October 15, 2016 Twitter’s share price dropped more than five per cent in the US on Friday after a takeover offer was ruled out by Salesforce – whose shares jumped five per cent on the news. The social media company’s shares were trading at close to $25 on 5 October after reports suggested a bidding process was about [...]
Private equity firms add Polish auction site to their basket for £2.7bn October 14, 2016 A consortium of private equity companies has announced the acquisition of Polish auction website Allegro. Cinven, Permira and Mid Europa this afternoon unveiled a $3.25bn (£2.66bn) deal to buy the company from South Africa's Naspers Limited. Read more: Stock Spirits appoints new chief exec and refocuses business on Poland Allegro, described as Poland’s eBay, was founded in 1999 and [...]
