London Report: Glimmer of light for pharma deal brightens FTSE May 21, 2014 BRITAIN’S top share index edged up yesterday as shares in drug-maker Astrazeneca rebounded on the view that what appeared to have been an unsuccessful £69bn bid for the company may still have a chance of going through. Pharma giant Astrazeneca rose 2.6 per cent, adding the most points to the blue-chip FTSE 100 index, which [...]
One of AstraZeneca’s biggest shareholders says the Pfizer dismissal was too hasty May 21, 2014 Another unhappy AstraZeneca shareholder. Jim Stride, director and head of UK equities at AXA Investment Managers UK, has called for AstraZeneca's board to put the Pfizer bid to shareholders. AXA is one of the biggest holders of AstraZeneca stock. Full statement: AXA Investment Managers UK (AXA IM UK), acting in accordance with its fiduciary duty [...]
City institutions split over Astra bid rejection as pressure mounts May 20, 2014 HEAVYWEIGHT City stockpickers were split last night over the impending collapse of Astrazeneca’s takeover, with FTSE 100 giant Schroders and the UK’s best known manager Neil Woodford divided over the deal. Woodford, one of Astrazeneca’s most influential shareholders, said he believed the business would prosper without a takeover by US drug firm Pfizer. He backed [...]
Reed Elsevier buys Wunelli to beef up its telematics business May 20, 2014 INFORMATION services group Reed Elsevier has bought UK-based Wunelli, a telematics provider, in a deal thought to be worth around £25m. Telematics, the practice of sending data about drivers to an insurance company to calculate an accurate personal premium, is growing in popularity in the UK. Reed acquired the company in a bid to beef [...]
Investment Comment: How to invest in markets that are now hitting all-time highs May 20, 2014 The UK and US are consistently beating growth expectations – but sensible investors should proceed with caution THE GOOD news? The UK economy is recovering very well, consistently beating growth expectations. We’re seeing increasing levels of merger and acquisition activity, while the FTSE 100, S&P 500 and Dow Jones indices have all been at, or [...]
Astrazeneca’s £15bn gamble May 19, 2014 THE DEAL IS OFF. SHAREHOLDERS ARE HURTING. NOW THE UK DRUG GIANT MUST PROVE THAT IT CAN DELIVER ON ITS PROMISES – AND FAST UK DRUG giant Astrazeneca yesterday shut the door on Pfizer’s audacious £69bn takeover bid, splitting shareholders and piling pressure on bosses to live up to ambitious promises they have made on [...]
HgCapital sells off German toy manufacturer Schleich to Ardian May 19, 2014 GERMAN toy maker Schleich, known for its lifelike figurines, has been bought by French private equity firm Ardian from its British owner HgCapital, the two private equity companies said yesterday. Neither side disclosed the price of the transaction, which the Frankfurter Allgemeine Zeitung yesterday reported was €220m (£179m), citing unnamed sources in the finance industry. [...]
Britain’s supposedly open economy can’t afford this Pfizer political inquisition May 13, 2014 THERE was something quite uncomfortable about watching MPs do their best to trip up the boss of a major multinational that has expressed an interest in investing in the UK economy. At yesterday’s Business Committee hearing into his firm’s proposed bid for Astrazeneca, Pfizer chief executive Ian Read was treated no differently to Rupert Murdoch during [...]
April heat can’t stop the City’s marathon stars April 14, 2014 THE SUN was cracking the flags yesterday as an estimated 36,000 people took part in the London Marathon. As ever, the City certainly didn’t disappoint, with hundreds of financial professionals pulling on the Lycra and taking part. Barclays alone had an estimated 150 runners racing, while private equity firm LDC had 14 people running for [...]
Ex-Axa buyout unit raises cash April 3, 2014 ARDIAN, the private equity unit spun out of investment giant AXA, has raised €500m (£413m) to invest in small businesses across Europe. The fundraising comprises €450m through a traditional buyout fund – the third fund raised through its Expansion brand – and a €50m pot from investors for direct co-investments. It follows on from Expansion [...]