Funerals group Dignity in £38m deal to expand with Laurel purchase June 16, 2015 Listed funeral services provider Dignity is expanding, with the purchase of 36 funeral homes from Laurel Funerals for £38m. Laurel currently operates in 83 locations across the UK. In order to avoid any potential competition concerns, Dignity is only acquiring sites that complement its own geographic spread. The transaction is expected to close in July. [...]
Dragon Oil share price soars as board agrees £3.7bn takeover offer June 15, 2015 Dragon Oil’s board yesterday approved a sweetened takeover offer from Emirates National Oil Company (ENOC), breathing fire into its share price on hopes that minority shareholders will accept the deal. Shares in the oil explorer, which operates in Turkmenistan, soared 9.6 per cent to a record high of 734p in early trading, before settling [...]
Majestic Wine profits fall after group makes big investments for the future with Naked Wines aquisition June 15, 2015 Majestic Wine’s profits fell 12.2 per cent during 2015, after the company spent big in acquiring rival Naked Wines. Chief executive Rowan Gormley admitted the company will suffer a short-term hit to its profit as it looked to invest in the short term. The figures Adjusted profit before tax fell to £20.9m in the 52 weeks [...]
House of Fraser owner Sanpower eyes takeover of toy shop Hamleys June 15, 2015 The Chinese owner of House of Fraser is rumoured to be planning another buying spree in the UK with the country’s most famous toy shop Hamleys next on its shopping list. Yuan Yafei, the chairman of Nanjing-based conglomerate Sanpower, is understood to be in talks to buy the famous chain from its French owner, [...]
Greene King leaps last hurdle in Spirit merger June 11, 2015 Greene King moved within touching distance of completing its takeover of Spirit Pub Company yesterday after announcing the acquisition was no longer subject to regulatory approval. The announcement that the company had waived approval from the Competition and Markets Authority (CMA) means the acquisition is expected to take place within weeks. Last [...]
US oil and gas M&A falls to 12-year low as oil prices fall June 11, 2015 Mergers and acquisitions in the US oil and gas sector were at their lowest since 2003 in the first half of this year, new data has suggested. A survey by Dealogic showed M&A volume fell to $29.5bn (£19bn) over 202 deals in the six months to the end of June, down 50 per cent from [...]
Vodafone confirms talks with Liberty global but rules out merger June 5, 2015 Vodafone today confirmed it's in early stage discussions with Liberty Global over a possible asset swap, although it quashed speculation surrounding a potential a merger between the two telecoms giants. The announcement followed media reports that the British telecoms giant had entered into informal talks with the US cable giant. Vodafone's share price fell 2.2 per [...]
Odey Asset Management invites rivals to gatecrash Playtech’s takeover of Plus500 June 4, 2015 Plus500’s top shareholder Odey Asset Management yesterday rebuked a £460m deal for the company from Teddy Sagi’s Playtech and said it would welcome offers from rival bidders. Odey, which was founded by hedge fund investor Crispin Odey, has amassed a 25 per cent stake in the troubled spreadbetting company alongside JP Morgan, which owns [...]
Merger for UK music startups Songkick and Crowdsurge June 4, 2015 Two UK-based music platforms said they were teaming up yesterday, as concert app Songkick and ticket sales website Crowdsurge announced a 50/50 merger. In an announcement on its website, Songkick said that the combined company would keep the name Songkick and become the “largest artist-ticketing service in the world.” According to Songkick, the company aims [...]
Competition probe into Greene King’s Spirit Pub takeover moves on to consultation stage June 4, 2015 Greene King’s proposals to the Competition Market Authority (CMA) regarding its acquisition of the Spirit Pub Company reached consultation stage yesterday. The consultation comes after the regulator raised concerns about the £774m merger shortly after it was announced in May. At the time the authority said the current proposal would “substantially” lessen competition in the [...]