Shareholders back cash call at Ladbrokes October 26, 2009 BOOKMAKER Ladbrokes yesterday announced its shareholders have agreed to buy more than 95 per cent of the shares offered in its underwritten £275m cash call. Ladbrokes, which runs 2,700 betting shops, unveiled a surprise rights issue earlier this month to pay down debt after revealing revenue had dived by 15 per cent in its third [...]
M&Ain focus in Credit Suisse’s buyer/seller list September 17, 2009 KRAFT’S bid last week for UK confectionary giant Cadbury will be the first of many buyout attempts, according to a Credit Suisse analyst. The analyst at the Swiss bank Richard Kersley yesterday sent out a table of companies that he believes are the most likely to buy a rival and of those companies that look [...]
Xstrata pulls out of bid for its rival Anglo October 15, 2009 MINER Xstrata pulled out of its bid to create a “mining super-major” with rival Anglo American yesterday, in a climbdown for its chief executive Mick Davis. The group decided not to make a formal offer for Anglo after the Takeover Panel issued a “put up or shut up” ruling. It proposed a nil-premium “merger of [...]
BRUCE WASSERSTEIN, WALL STREET LEGEND (1947-2009) October 14, 2009 BRUCE Wasserstein, the most celebrated dealmaker of the past 30 years, has died aged 61. Wasserstein, who served most recently as chairman and chief executive of investment bank Lazard, was admitted to hospital earlier this week with an irregular heartbeat and was said to be recovering until his death was announced last night. No cause [...]
THE TIPSTER NEW FINDS POWERING OIL AND GAS September 13, 2009 ACTIVITY in oil and gas companies has been going strong over the past few weeks, making a number of small and mid-caps ripe for a buy. Last week’s announcement that Desire Petroleum has managed to secure a rig for drilling in the Falklands Islands, where up to 3bn barrels of oil and gas may be [...]
European stocks near 11-month high September 7, 2009 EUROPEAN shares closed higher yesterday, led by UKchocolate giant Cadbury which soared 38 per cent following a £10.2bn bid approach from US company Kraft Foods. The pan-European FTSEurofirst 300 index of top shares rose 1.4 per cent to 975.90 points, just 0.3 per cent away from an 11-month closing high. The European benchmark index has [...]
Suntory bids for Schweppes September 22, 2009 JAPANESE brewer Suntory has made a binding bid for soft drinks maker Orangina Schweppes, its private equity owners said, in a sign buy-out houses may find it easier to exit investments. Suntory will pay €2.6bn (£2.4bn) for Orangina, two sources familiar with the situation said, allowing Blackstone Group and Lion Capital to double their money [...]
Suntory bids for Schweppes September 22, 2009 JAPANESE brewer Suntory has made a binding bid for soft drinks maker Orangina Schweppes, its private equity owners said, in a sign buy-out houses may find it easier to exit investments. Suntory will pay €2.6bn (£2.4bn) for Orangina, two sources familiar with the situation said, allowing Blackstone Group and Lion Capital to double their money [...]
Because you’re worth it: the best bachelor pads in town December 3, 2009 ATROPHY apartment is the ultimate reward for spending your 20s chained to a desk. And in case you hadn’t noticed, tastes for this type of flat, and the facilities found within it, are changing. Overt ostentation, 1980s-style, is out – so swimming pools with your monogrammed initials at the bottom are a no-no – to [...]
Supply trouble to keep cocoa futures on an upward trend October 25, 2009 WITH oil and gold constantly hitting the headlines, it’s all too easy for spread betters to take the (relatively) easy route and stick to trading the big commodity markets. But given how strongly some of the so-called soft commodities such as cocoa and sugar have performed over recent months, it is clear that extending your [...]