Deutsche Boerse exec warns US and China will dominate if London Stock Exchange merger is blocked November 24, 2016 A Deutsche Boerse executive has warned rival firms from the US and China will dominate if the German’s merger with the London Stock Exchange falls through. The exchanges are expecting a statement of objections to their tie-up from the European Commission next month and analysts remain doubtful the deal will complete. Read more: Stock exchanges [...]
Not for sale: Government rules out Land Registry privatisation November 23, 2016 The government has announced it will not be privatising the Land Registry. The Treasury said in its Autumn Statement document: Following consultation the government has decided that HM Land Registry should focus on becoming a more digital data-driven registration business, and to do this will remain in the public sector. Modernisation will maximise the value [...]
Brammer’s board accepts bumper offer after tumultuous 2016 November 23, 2016 Shares in UK parts distributor Brammer soared nearly 70 per cent after receiving a premium offer from a US buy-out fund. Advent International, which has previously held stakes in Poundland, Fat Face and mental health provider the Priory Group, offered £222m to take the firm private. The offer is a 69 per cent premium to [...]
China’s European spending spree undeterred by UK’s Brexit vote November 22, 2016 Chinese deal activity in the UK has not been slowed by the Brexit vote and the appetite for European takeovers in general is likely to increase, according to a new report. So far this year, China and Hong Kong-based dealmakers have completed 170 acquisitions in Europe, according to a Deloitte analysis. Meanwhile, in the opposite direction, there have [...]
Deutsche Boerse expects EU statement of objections to London Stock Exchange merger before Christmas November 22, 2016 Deutsche Boerse expects the EU competition regulator to publish a statement of objections to the company’s £21bn merger with the London Stock Exchange next month. The German firm’s chief executive Carsten Kengeter said he expects the European Commission to make the intervention in the second week of December. Read more: London Stock Exchange seeks to [...]
“I wish we could find something”: Aberdeen Asset Management pulled out of bidding for Unicredit’s €3.5bn Pioneer fund unit November 21, 2016 Aberdeen Asset Management dropped a bid for Italian bank UniCredit’s Pioneer fund unit because the UK-listed firm could not afford the €3.5bn (£3bn) asking price. The fund manager made it through to the second round of bidding before withdrawing, chief executive Martin Gilbert revealed. Read more: Trading in Unicredit shares suspended as investors digest bank stress [...]
London Stock Exchange boosts information business with acquisition of US-based Mergent November 21, 2016 The London Stock Exchange Group has announced a takeover of US-based Mergent to boost its information services business. The deal, the terms of which have not been disclosed, is expected to close on 31 January. The firm will join the information services division of the group, which also houses FTSE Russell, an indexes and data [...]
Lloyds said to be frontrunner in bidding for Bank of America’s £7bn-valued MBNA November 21, 2016 Lloyds Banking Group is thought to be the frontrunner for Bank of America’s £7bn-valued UK credit card business. The UK lender is reported to have edged ahead of US private equity group Cerberus in the bidding for MBNA’s British credit card operation. For Lloyds, it would mark the first acquisition since it was bailed out by [...]
Final bids due today for web hosting company Host Europe as global rivals close in November 21, 2016 Final bids for Host Europe, a London-based website hosting company, are due today. It’s understood that rivals from around the world are battling for control of the group, with US internet provider GoDaddy and Germany’s United Internet – teamed up with teamed up with private equity firm Warburg Pincus – leading the running. Bankers have [...]
Telecom firm Daisy takes aim at rival Alternative Networks November 20, 2016 Daisy – one of the UK’s telecoms challenger firms – is expected to make a play for its listed rival Alternative Networks this week. The bid, which could come as soon as tomorrow morning, is thought to be pitched at about 335p a share, just under 20 per cent up from Alternative Network’s Friday closing share [...]