Canaccord boss leaves months after merger September 3, 2012 MARK Brown is leaving his position as chief executive of Canaccord Genuity in the UK, Europe and Asia Pacific, just months after putting together the merger with Collins Stewart Hawkpoint, the firm he formerly led, City A.M. has learned. The Canadian bank Canaccord will today announce a replacement for Brown, whose early departure was not [...]
Glencore’s deal with Xstrata faces long road to clearance February 7, 2012 GLENCORE and Xstrata’s $90bn (£57bn) merger faces a long road to reach regulatory and competition clearance. While bigger commodities tie-ins have been cleared in the past – such as the deals that formed Rio Tinto and BHP Billiton – merging a clearing house with a miner could encounter new hurdles, analysts said yesterday after the [...]
FTSE dwindles as defensive stocks drop ahead of Fed and euro news September 10, 2012 BRITISH blue chip shares dipped yesterday as weakness in defensive stocks outweighed strength in risk-sensitive cyclicals, such as miners, and investors positioned for more newsflow out of Europe and the United States. The FTSE 100 closed down 1.60 points, or 0.03 per cent, at 5,793.20, with the index yo-yoing in a tight range around the [...]
FTSE 100 falls on doubts over deals for Greece and Glencore February 6, 2012 MINERS dragged Britain’s top share index lower yesterday, after doubt surfaced about Glencore’s potential merger with Xstrata, while banks waned in the absence of a debt deal for Greece. The FTSE 100 index ended down 8.87 points, or 0.2 per cent, at 5,892.20, remaining near six-month highs after strong US jobs data boosted appetite for [...]
Gulf Keystone secures £170m funding for Iraq oil exploration October 4, 2012 LONDON-listed Gulf Keystone Petroleum is to raise $275m (£170.5m) worth of funding through convertible bonds to expand its operations in the Kurdistan region of Iraq. The bonds, which mature in 2017, will pay 6.25 per cent a year, and the proceeds will primarily be used to fund the development of the oil and gas exploration [...]
Advisers JP Morgan Cazenove August 21, 2012 JP Morgan Cazenove is acting as a financial adviser for Heritage during the sale of its stake in Miran Block to Genel Energy. It has worked with Heritage since its IPO back in 2008. Barry Weir, James Taylor and Neil Haycock are the lead advisers on the deal. Weir, who heads the natural resources team [...]
RLM Finsbury is top PR firm for European M&A activity in 2012 July 11, 2012 COMMUNICATIONS firm RLM Finsbury has topped the league table of PR advisers by deal value, according to research released yesterday. Data provider Mergermarket says the company worked on European M&A deals worth $95.6bn (£61.4bn) in the first half of 2012, more than any other PR agency. In total the firm, which is part of Sir [...]
FTSE 100 opens flat as investors bide time September 10, 2012 The leading share index opened modestly lower this morning, as investors were cautious ahead of key Eurozone and US Federal Reserve meetings this week. A selection of miners and retailers led the index up. Specialist engineering company Lamprell added nearly five per cent in early deals on news that it signed a joint venture deal [...]
M&A in Europe crashes to hit a ten-year low September 20, 2012 EUROPEAN merger and acquisition activity crashed to a 10-year low in the third quarter of the year, as dealmaking across the world fell to its slowest level since the depths of the financial crisis, figures out today show. M&A in Europe has totalled $84.2bn (£52bn) so far in the three months to the end of [...]
Direct Line’s success is just what the bankers ordered October 11, 2012 D IRECT Line was always going to be a major test for the London listings market. Finally, it has got away, so there will be relief all around about that, even though the insurance group will not jump straight into the prestigious FTSE 100 as many at the outset had hoped for. There was a [...]