Kraft can up its Cadbury bid by 20 per cent, say analysts September 15, 2009 KRAFT could raise its offer for Cadbury by at least 20 per cent thanks to a boost from sale synergies, according to brokers Sandford Bernstein, who will today host a conference with Cadbury chief executive Todd Stitzer. Kraft’s bid was originally worth $16.7bn (£10.2bn), which valued each share at 745p. Cadbury has rejected the offer, [...]
Switzerland ticks the boxes for bankers with a taste for nature October 1, 2009 EARLIER this year, the local governments of Geneva and Zug hosted an event called Make the Move at a Mayfair club, where they explained to hedge fund managers why they should move to Switzerland. The main reason they were willing to listen, of course, is the looming 50 per cent top rate of tax. Compare [...]
Unite plans a fundraising September 17, 2009 STUDENT housing provider Unite is set to raise £82m through a share placing, it said yesterday, to take advantage of a “compelling business opportunity” in London. It is offering 32.8bn shares, priced at 250p each and is raising the cash via a firm placing of £24.6m, and an open offer of £57.4m. The offer is [...]
Unite plans a fundraising September 17, 2009 STUDENT housing provider Unite is set to raise £82m through a share placing, it said yesterday, to take advantage of a “compelling business opportunity” in London. It is offering 32.8bn shares, priced at 250p each and is raising the cash via a firm placing of £24.6m, and an open offer of £57.4m. The offer is [...]
AIG sells unit to Bridge for fee of $500m September 6, 2009 BAILED-OUT US insurer American International Group (AIG) has struck a deal to sell its investment advisory and asset management operations for around $500m (£305m), the company said at the weekend. Bridge Partners, which is owned by private equity house Pacific Century Group, is to buy AIG Investments for an initial $300m, but the price could [...]
Crystal Amber cuts JJB stake and takes profits October 19, 2009 CRYSTAL Amber Fund, one of JJB Sports’ largest shareholders, yesterday said it had cut its stake from 14 per cent to just under eight per cent, ahead of the retailer’s £100m fundraising. Crystal Amber made a 45.3 per cent profit on the sale of 13.6m shares that it bought when the stock was 22.4p a [...]
Crystal Amber cuts JJB stake and takes profits October 19, 2009 CRYSTAL Amber Fund, one of JJB Sports’ largest shareholders, yesterday said it had cut its stake from 14 per cent to just under eight per cent, ahead of the retailer’s £100m fundraising. Crystal Amber made a 45.3 per cent profit on the sale of 13.6m shares that it bought when the stock was 22.4p a [...]
Buyout firms circle Citi’s $1bn Tokyo call centre September 1, 2009 SEVERAL private equity firms are circling Citigroup after it announced its intention to sell off a Japanese call centre. Major buyout firms Kohlberg Kravis Roberts (KKR), Permira, Blackstone and Bain Capital are all understood to be interested in buying the centre, which is valued at up to $1bn (£620m). Sources familiar with the situation said [...]
Buyout firms circle Citi’s $1bn Tokyo call centre September 1, 2009 SEVERAL private equity firms are circling Citigroup after it announced its intention to sell off a Japanese call centre. Major buyout firms Kohlberg Kravis Roberts (KKR), Permira, Blackstone and Bain Capital are all understood to be interested in buying the centre, which is valued at up to $1bn (£620m). Sources familiar with the situation said [...]
Maybe ITV would do better without a chief exec October 14, 2009 CRISIS? What crisis? That was the line that Michael Grade, the outgoing executive chairman of ITV, took when being questioned by a House of Lords committee yesterday. Hitting out at media coverage of the broadcaster’s bungled attempts to find a replacement chairman and chief executive, he said ITVwas a business in fine fettle. In a [...]