David Montgomery eyes Lepe back into the newspaper world November 8, 2012 It would be no exaggeration to say that the boutique investment banks are hurting due to the dearth of deal activity but in their favour they have increased their market share of deals and every so often they pop up quite spectacularly when one is least expecting them. Hence when BP bought (and then later [...]
City A.M. Awards 2012 Winners October 17, 2012 City A.M.'s third annual awards celebrating the best and brightest of London's business, financial and investment communities. Over 500 guests from 116 different firms attended the celebration, held at the Grange Hotel in St Paul's. PERSONALITY OF THE YEAR Lord CoeLocog chairman Former Olympic middle distance runner and politician Lord Coe was a clear stand-out [...]
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 [...]
ADVISERS June 19, 2012 RICHARD GIRLING CENTERVIEW PARTNERS WALGREENS’ purchase of Alliance Boots involved two very different firms: Goldman Sachs and Centerview Partners. On this side of the Atlantic it represents an impressive coup for Centerview’s Richard Girling, a sector specialist who holds an MA in biochemistry from Oxford University. He helped set up Merrill Lynch’s European healthcare business in the [...]
Walgreens in bid to attract UK investors June 24, 2012 AMERICAN pharmacy Walgreens will kick off a series of high-level meetings with UK investors today in a bid to increase institutional interest in the US-listed company, following its £4.3bn initial takeover deal with Alliance Boots. Chief executive Gregory Wasson has arrived in the country to sound out institutional investors, such as large UK pension funds, [...]
KKR CASHES IN AS BOOTS SOLD IN $16BN PLAN June 19, 2012 PRIVATE equity firm KKR yesterday confounded its critics by pulling off a deal to sell 45 per cent of pharmaceutical giant Alliance Boots to US firm Walgreens for an initial $6.7bn (£4.3bn). In three years Walgreens will have the option to complete the takeover and buy the remaining 55 per cent stake. The deal will create [...]
Walgreens puts on its Boots to look for profit overseas June 19, 2012 HAS Walgreens just secured exclusive rights to the elixir of youth? By joining forces with Alliance Boots, the US pharmacist gains the UK high street stalwart’s No7 Protect & Perfect anti-ageing cream, made famous by a BBC Horizon episode in 2007 and a clinical trial supporting its effectiveness in 2009. That’s a handy flourish on [...]
PROFILE: WALGREENS’ NEWEST BOARD MEMBERS June 19, 2012 STEFANO PESSINA, ALLIANCE BOOTS ALLIANCE Boots’ executive chairman shows no sign of slowing down despite celebrating his 71st birthday earlier this year. Speaking to reporters yesterday he reaffirmed his commitment to the firm and said he was excited to be taking an eight per cent stake in Walgreens: “I really believe in this company and [...]
PERSONALITY OF THE YEAR July 29, 2012 TODAY we kick off the countdown to the City A.M. Awards with the first of the shortlists – for Personality of the Year. Our awards, now in their third year, have established themselves as a key part of the business calendar, celebrating all of the City’s main sectors and the people that make sure London [...]
It’s far from all over for the bulge bracket banks June 25, 2012 ONE of the many surprises of the Walgreens pharmacy chain bid for 45 per cent of Boots was the choice of advisers. For sure, Walgreens had bulge bracket firm Goldman Sachs on the case but it also took advice from the independent firm Lazard. And on the other side of the deal, Alliance Boots and [...]