Aviva merger target Friends Life eyed up deal with closed insurance group Phoenix November 25, 2014 Friends Life, which is in merger talks with Aviva, has held informal talks with Phoenix, the closed insurance group, about a possible deal in the past few months, City PM understands. News of the talks between the two groups, which are not ongoing and did not reach any conclusion, come as Aviva struggles to convince [...]
Pfizer will be let loose on AstraZeneca again tomorrow – but is another takeover bid likely? November 25, 2014 From tomorrow, Pfizer will once more be able to make a take-over bid for AstraZeneca, after a “final rejection” in May meant it could not approach the UK pharmaceutical firm for six months. The offer was worth £55 per share, valuing AstraZeneca at approximately £69bn. But it was not accepted, on the ground that [...]
Bayer share price up as pharmaceutical company looks to sell peripheral units to fund Zoetis takeover November 24, 2014 The German chemical and pharmaceutical company Bayer is considering selling its $2.5bn (£1.6bn) diabetes device business. The company is working with Credit Suisse on the sale with firms such as Cinven, EQT Partners AB and Triton Advisors possibly lining up bids. Bayer also wants to float its plastics unit on the stock market, according to [...]
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 [...]
M&A comeback this year is led by mega-deals November 23, 2014 More than $2.5 trillion (£1.6 trillion) worth of mergers and acquisition (M&A) deals have been announced so far this year. The figure marks a 30 per cent increase on last year’s $1.9 trillion and is also set to be the best year for M&A deals since 2007, according to data released today by financial services [...]
Botox maker Allergan accepts $66bn Actavis takeover bid as Valeant walks November 17, 2014 Botox maker Allergan yesterday accepted a $66bn (£42bn) takeover bid from Actavis, creating one of the top 10 biggest pharmaceutical companies in the world. The takeover ended a seven-month hostile pursuit by activist investor William Ackman and Valeant Pharmaceuticals International. Dublin-based Actavis offer amounted to billions more than Canada’s Valeant was prepared to pay. Valeant [...]
Botox maker Allergan in £40bn takeover agreement with rival Actavis November 17, 2014 Botox maker Allergan is set to fall into the hands of Dublin-based rival Actavis after the two firms last night neared a landmark $62.5bn (£40bn) takeover agreement. The deal, which would be Actavis’ third big takeover in a year, is expected to be unveiled as soon as today after it offered up to $215 [...]
Halliburton takeover attempt for Baker Hughes starts to turn nasty November 16, 2014 A fight for control of a major American oil field services company appears to be brewing, as Baker Hughes has disclosed that its larger rival Halliburton has threatened to replace its entire board. The move by Halliburton came after an impasse in merger talks between the two, which, if completed, would be one of the [...]
Sky credit rating downgraded following £7bn takeover of Sky Italia and Sky Deutschland November 13, 2014 Sky’s long-term corporate credit rating has been cut following the completion of its £7bn takeover of Sky Italia and Sky Deutschland yesterday. Standard & Poor’s downgraded Sky’s credit rating from ‘BBB+’ to ‘BBB’ as it estimated the group would raise a “significant amount of debt to part-find the acquisitions”. The credit ratings agency [...]
