Tate & Lyle is poised for sale to a US firm June 30, 2010 BRITISH company Tate & Lyle is expected to sell its historic sugars business to US rival American Sugar Refining for around £200m. The deal, which is due to be announced officially today, is likely to cause anger over the loss of yet another UK business – coming, as it does, after the sale of Cadbury [...]
City divided on Cadbury’s new suitors November 18, 2009 THE City was yesterday divided over the prospect for a Cadbury bidding war as Ferrero and Hershey confirmed they were in early talks about a possible offer for the UK giant. Some said that the presence of other potential bidders in the field would prompt Kraft to increase its offer. One analyst said: “Kraft has [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 17, 2010 FINANCIAL TIMES CRIMINAL GANGS TARGET INSIDER DEALING Organised criminals in the UK are becoming increasingly involved in financial frauds including insider share dealing that they see as lucrative and low risk, investigators have warned. A long-term trend of prosecutions in the US has shown the same shift by crime gangs to more sophisticated frauds. FUNDING [...]
Tomkins gets flak for £3bn takeover deal July 27, 2010 INDUSTRIAL components manufacturer Tomkins faced another headache from one of its leading shareholders yesterday after recommending a £2.9bn takeover offer from a Canadian consortium. Tomkins chairman David Newlands urged investors to accept the 325p per share bid from private equity player Onex and the Canada Pension Plan Investment Board, saying it reflected “both the value [...]
Cadbury chief’s plea: ‘Don’t let Kraft steal your company’ January 12, 2010 CADBURY has launched a renewed attack on Kraft’s unwanted bid for the company and issued upbeat trading figures to back its case. The British chocolate maker accused the US food giant of dramatically undervaluing the company. Revenues grew by 6 per cent in the second half of 2009 at Cadbury according to the figures issued [...]
Cadbury mulls takeover deal December 6, 2009 CADBURY could today publish its defence documents to reject Kraft’s hostile takeover bid as next week’s bid deadline draws nearer. On Friday Kraft published its formal documents for its £10bn hostile bid, triggering a 60-day timetable operated under Takeover Panel rules – investors have been given until 5 January to accept the offer. Kraft’s relentless [...]
New wave of M&A has profit potential for spread betters August 1, 2010 IT HAS been a veritable whirlwind of good old-fashioned company matchmaking of late and especially so here in Britain, thanks to the sharp depreciation in sterling. In May, UK manufacturer Chloride was snapped up by its American rival Emerson. More recently, International Power revived merger talks with French energy firm GDF Suez, household goods group [...]
New wave of M&A has profit potential for spread betters August 1, 2010 IT HAS been a veritable whirlwind of good old-fashioned company matchmaking of late and especially so here in Britain, thanks to the sharp depreciation in sterling. In May, UK manufacturer Chloride was snapped up by its American rival Emerson. More recently, International Power revived merger talks with French energy firm GDF Suez, household goods group [...]
Kraft labels Cadbury goals too ambitious December 15, 2009 KRAFT Foods yesterday hit back at Cadbury for rejecting its £10bn hostile bid, warning shareholders not to put their faith in the British company’s ambitious growth targets. The US food giant said the targets set out by Cadbury on Monday to rally shareholders against the bid were “subject to significant risk and uncertainty” and that [...]
Three cheers for the stars of the Square Mile October 28, 2010 LAST night was truly an exciting and exceptional occasion: City A.M.’s inaugural awards celebrating the best and brightest of London’s business, financial and investment communities. Our inaugural awards ceremony saw more than 450 guests in their finery roll up at the Grange Hotel at St Pauls. Our winners, unique in that each was initially chosen [...]