Topic filter : Acquisition

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....". Google declined to comment about allegations that the CIA was able to "penetrate, infest and control" Android phones due to its discovery and acquisition of "zero day" bugs - previously unknown flaws in the operating system's code. ... [Read full article on BBC ]
Wednesday 8th of March 2017 09:32:08 AM
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.... A forced sell-off could have meant a lengthy legal battle that would not have done anything to speed up the rollout of superfast broadband at a crucial time. But will customers see any difference? The accusations had been that Openreach delivered a poor service, favoured BT over other suppliers and was pressured to deliver cash to fund the acquisition of expensive sports rights. ... [Read full article on BBC ]
Friday 10th of March 2017 07:18:06 AM
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....The firm was focused on desktop computers and printers, as demand for mobiles and tablets was taking off. Its fortunes started to decline with a series of expensive and much criticised acquisitions, including Compaq for $25bn in 2002, consultants EDS for $14bn in 2008 and Autonomy for $11bn in 2011. ... [Read full article on BBC ]
Friday 3rd of March 2017 12:08:53 AM
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....Private equity groups including CVC and Bain Capital are weighing up plans for a £6bn bid for the division, according to reports, while Kraft Heinz could also target the business as a less ambitious alternative to its bid for the entire company. The company is also pondering raising up to $15bn to fund medium-sized acquisitions and a sizeable special dividend or buyback to pacify more fractious investors. ... [Read full article on Guardian ]
Sunday 19th of March 2017 01:46:15 PM
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....Liberty’s F1 common stock is now listed on the Nasdaq under the ticker FWONK, and sits alongside Liberty’s other assets such as the Atlanta Braves baseball team, a 34% stake in the event promoter Live Nation and minority positions in the media giants Time Warner and Viacom. The acquisition of Delta Topco was fuelled with cash and stock which gave the sellers, led by the private equity firm CVC, a significant stake in Liberty. ... [Read full article on Guardian ]
Friday 10th of March 2017 04:46:33 PM
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....". Mr Tavares recently told analysts the acquisition offered an "opportunity to create a European car champion" and quickly exceed five million sales annually. ... [Read full article on BBC ]
Sunday 5th of March 2017 12:03:33 PM
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.... “London universities have over a quarter of a million full-time students, almost 70% of which are unable to access university or private sector accommodation,” said Howard Meaney, head of real estate UK for UBS’s Triton fund. “This demographic creates a demand profile which, combined with a lack of supply of direct-let purpose-built student accommodation, makes Orient House an exciting acquisition. ... [Read full article on Guardian ]
Thursday 16th of March 2017 03:40:59 PM
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....”. WPP reported total like-for-like revenue growth, stripping out factors such as currency effects and acquisitions, of 3% to £14. ... [Read full article on Guardian ]
Friday 3rd of March 2017 08:33:39 AM
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....Assets that it took on are likely to be worth less than initially thought and there is also a dispute about payments that are due. Requesting permission for the new delay to its results, Toshiba said some US senior managers had exerted "inappropriate pressure" in the way the acquisition of a nuclear plant construction company had been dealt with in its accounts. ... [Read full article on BBC ]
Tuesday 14th of March 2017 03:21:39 AM
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...."The transformation of Balfour Beatty is well under way," he said. The company said that, by 2014, it had become overly complex following more than a decade of acquisition-led growth. ... [Read full article on BBC ]
Thursday 16th of March 2017 08:18:30 AM
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....”. Shell’s disposal of the tar sands interests is part of wider plan to offload $30bn (£25bn) worth of assets to cut debt following its acquisition of BG Group last year as it comes under investor pressure to mitigate climate change risks. ... [Read full article on Guardian ]
Friday 10th of March 2017 01:18:53 AM
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....”. The acquisition is the latest stage of an attempt by Ashley, the founder and chief executive of Sports Direct, to move his business empire upmarket. ... [Read full article on Guardian ]
Thursday 2nd of March 2017 12:46:56 PM
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....9bn). The acquisition of Opel/Vauxhall, which generated revenues of €17. ... [Read full article on Guardian ]
Monday 6th of March 2017 12:35:46 PM
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.... Life has changed. In Sainsbury’s case, the acquisition of Argos, where like-for-like sales rose 4. ... [Read full article on Guardian ]
Thursday 16th of March 2017 07:38:27 PM
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....Trinity Mirror took control of Local World in October 2015 in a deal worth £220m, making it the UK's largest regional news publisher. The acquisition more than offset losses incurred by the group's failed national daily, the New Day. ... [Read full article on BBC ]
Monday 27th of February 2017 08:17:10 AM
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.... . The so-called "put up or shut up rule" was changed in 2011 by the Takeover Panel, the body which polices mergers and acquisitions, so that from the day a company announces it has received an approach, the business making the offer has 28 days to put forward a firm bid. ... [Read full article on BBC ]
Tuesday 14th of March 2017 07:14:02 PM
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.... . "This makes any meaningful upside dependent on a takeover, as organic growth looks trickier, some very smart production acquisitions notwithstanding. ... [Read full article on BBC ]
Wednesday 1st of March 2017 07:37:00 AM
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....3bn company splashes out £1. 9bn on a “transformational” acquisition, paying half in shares and half in cash, what do you get three years later? The answer, in the case of Amec, which spent the sum on US group Foster Wheeler in 2014, is a pile of trouble, towering debts followed by submission to Wood Group’s all-share takeover offer at only £2. ... [Read full article on Guardian ]
Monday 13th of March 2017 07:07:19 PM
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.... In 2012 - during what became known as the shareholder spring - nearly 60% of investors rejected his annual pay package for the previous year. It sparked changes to his pay deals which were generated by the leadership equity acquisition plan (Leap) which has payed out multi-million pound share deals for Sorrell. ... [Read full article on Guardian ]
Thursday 9th of March 2017 12:58:00 PM
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.... The broadcaster has shown an appetite for picking up one of the few remaining independent players in the UK market, having unsuccessfully mounted a £1bn bid for Canadian-headquartered but UK-listed Entertainment One. Adam Crozier, the chief executive of ITV, has spent more than £1bn on acquisitions, building an international TV production powerhouse to reduce its reliance on advertising revenue. ... [Read full article on Guardian ]
Wednesday 15th of March 2017 03:54:39 PM
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.... The same man had previously posed as a member of the Saudi royal family as part of a bid to seek information on a banker, Geoffrey Logue, who launched legal action against the Candys over the fittings in his apartment at their One Hyde Park development. Holyoake approached the Candys in 2011 for a short-term loan to finance the acquisition of a period mansion block in London’s Belgravia, which he planned to refurbish and sell on at a profit. ... [Read full article on Guardian ]
Thursday 2nd of March 2017 02:48:12 PM
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.... The company has yet to comment on the issue. The aborted deal was the latest in a number of entertainment acquisitions by the Chinese conglomerate, which already controls the AMC cinema chain, as well as Legendary Entertainment, co-producer of hit films including Godzilla and The Dark Knight Rises. ... [Read full article on BBC ]
Monday 13th of March 2017 02:28:41 PM
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.... Staffers say that although the proportion may seem small compared with the rest of the company, they are determined to increase it. Shell has become more “gassy” and less “oily” in recent years, a trend accelerated by the acquisition of BG Group and helped by the tar sands sale. ... [Read full article on Guardian ]
Saturday 11th of March 2017 03:59:38 PM
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.... In a written witness statement, he described himself as a “hard negotiator when I need to be”, but denied that he would resort to threats or illegal acts in order to complete a transaction. Holyaoke approached the Candys in 2011 for a short-term loan to finance the acquisition of a period mansion block in London’s Belgravia, which he planned to refurbish and sell on at a profit. ... [Read full article on Guardian ]
Wednesday 1st of March 2017 08:09:33 PM
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....2p is due if the deal with Deutsche Börse completes. After 18 acquisitions during his eight years in charge, Rolet said there were still opportunities for other deals. ... [Read full article on Guardian ]
Friday 3rd of March 2017 10:32:54 AM
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Latest Finance News related to Acquisition

Unilever bids to heal shareholder rift amid 'garage sale' warnings image
Source : Guardian [Read Article] Sunday 19th of March 2017 01:46:15 PM
....Private equity groups including CVC and Bain Capital are weighing up plans for a £6bn bid for the division, according to reports, while Kraft Heinz could also target the business as a less ambitious alternative to its bid for the entire company. The company is also pondering raising up to $15bn to fund medium-sized acquisitions and a sizeable special dividend or buyback to pacify more fractious investors. ...
Student digs in Britain giving first-class returns image
Source : Guardian [Read Article] Thursday 16th of March 2017 03:40:59 PM
.... “London universities have over a quarter of a million full-time students, almost 70% of which are unable to access university or private sector accommodation,” said Howard Meaney, head of real estate UK for UBS’s Triton fund. “This demographic creates a demand profile which, combined with a lack of supply of direct-let purpose-built student accommodation, makes Orient House an exciting acquisition. ...
Balfour Beatty returns to profit image
Source : BBC [Read Article] Thursday 16th of March 2017 08:18:30 AM
...."The transformation of Balfour Beatty is well under way," he said. The company said that, by 2014, it had become overly complex following more than a decade of acquisition-led growth. ...
TV company behind Question Time could sell for up to £300m image
Source : Guardian [Read Article] Wednesday 15th of March 2017 03:54:39 PM
.... The broadcaster has shown an appetite for picking up one of the few remaining independent players in the UK market, having unsuccessfully mounted a £1bn bid for Canadian-headquartered but UK-listed Entertainment One. Adam Crozier, the chief executive of ITV, has spent more than £1bn on acquisitions, building an international TV production powerhouse to reduce its reliance on advertising revenue. ...
Unilever chief calls for tougher takeover safeguards image
Source : BBC [Read Article] Tuesday 14th of March 2017 07:14:02 PM
.... . The so-called "put up or shut up rule" was changed in 2011 by the Takeover Panel, the body which polices mergers and acquisitions, so that from the day a company announces it has received an approach, the business making the offer has 28 days to put forward a firm bid. ...
Toshiba looking to sell Westinghouse nuclear business image
Source : BBC [Read Article] Tuesday 14th of March 2017 03:21:39 AM
....Assets that it took on are likely to be worth less than initially thought and there is also a dispute about payments that are due. Requesting permission for the new delay to its results, Toshiba said some US senior managers had exerted "inappropriate pressure" in the way the acquisition of a nuclear plant construction company had been dealt with in its accounts. ...
Top executives may be brilliant – but their pay's about timing and luck image
....3bn company splashes out £1. 9bn on a “transformational” acquisition, paying half in shares and half in cash, what do you get three years later? The answer, in the case of Amec, which spent the sum on US group Foster Wheeler in 2014, is a pile of trouble, towering debts followed by submission to Wood Group’s all-share takeover offer at only £2. ...
Wanda's deal for Golden Globe firm collapses image
Source : BBC [Read Article] Monday 13th of March 2017 02:28:41 PM
.... The company has yet to comment on the issue. The aborted deal was the latest in a number of entertainment acquisitions by the Chinese conglomerate, which already controls the AMC cinema chain, as well as Legendary Entertainment, co-producer of hit films including Godzilla and The Dark Knight Rises. ...
Shell’s sale of dirty tar sands assets cleans up debt and spruces image image
.... Staffers say that although the proportion may seem small compared with the rest of the company, they are determined to increase it. Shell has become more “gassy” and less “oily” in recent years, a trend accelerated by the acquisition of BG Group and helped by the tar sands sale. ...
Ferrari gives up F1 stake in exchange for Liberty Media stock image
Source : Guardian [Read Article] Friday 10th of March 2017 04:46:33 PM
....Liberty’s F1 common stock is now listed on the Nasdaq under the ticker FWONK, and sits alongside Liberty’s other assets such as the Atlanta Braves baseball team, a 34% stake in the event promoter Live Nation and minority positions in the media giants Time Warner and Viacom. The acquisition of Delta Topco was fuelled with cash and stock which gave the sellers, led by the private equity firm CVC, a significant stake in Liberty. ...
BT Openreach deal aims to shakeup UK broadband image
Source : BBC [Read Article] Friday 10th of March 2017 07:18:06 AM
.... A forced sell-off could have meant a lengthy legal battle that would not have done anything to speed up the rollout of superfast broadband at a crucial time. But will customers see any difference? The accusations had been that Openreach delivered a poor service, favoured BT over other suppliers and was pressured to deliver cash to fund the acquisition of expensive sports rights. ...
Shell sells oil sands assets as boss warns on clean energy challenge image
Source : Guardian [Read Article] Friday 10th of March 2017 01:18:53 AM
....”. Shell’s disposal of the tar sands interests is part of wider plan to offload $30bn (£25bn) worth of assets to cut debt following its acquisition of BG Group last year as it comes under investor pressure to mitigate climate change risks. ...
Sir Martin Sorrell's £42m payout takes earnings to £210m in five years image
.... In 2012 - during what became known as the shareholder spring - nearly 60% of investors rejected his annual pay package for the previous year. It sparked changes to his pay deals which were generated by the leadership equity acquisition plan (Leap) which has payed out multi-million pound share deals for Sorrell. ...
Apple, Samsung and Microsoft react to Wikileaks' CIA dump image
Source : BBC [Read Article] Wednesday 8th of March 2017 09:32:08 AM
....". Google declined to comment about allegations that the CIA was able to "penetrate, infest and control" Android phones due to its discovery and acquisition of "zero day" bugs - previously unknown flaws in the operating system's code. ...
GM set to announce Opel and Vauxhall sale on Monday image
Source : BBC [Read Article] Sunday 5th of March 2017 12:03:33 PM
....". Mr Tavares recently told analysts the acquisition offered an "opportunity to create a European car champion" and quickly exceed five million sales annually. ...
Peugeot owner PSA close to deal to buy Vauxhall and Opel image
Source : Guardian [Read Article] Saturday 4th of March 2017 07:26:55 AM
....Groupe PSA and GM could announce a deal as early as Monday morning after successful talks between the carmakers. Negotiations about a potential acquisition were revealed last month and the board of PSA is now understood to have approved the deal. ...
LSE chief says he'll stay as EU looks set to block Deutsche Börse merger image
....2p is due if the deal with Deutsche Börse completes. After 18 acquisitions during his eight years in charge, Rolet said there were still opportunities for other deals. ...
Sorrell: companies that offend good governance tend to perform better image
....”. WPP reported total like-for-like revenue growth, stripping out factors such as currency effects and acquisitions, of 3% to £14. ...
The smaller the better? image
Source : BBC [Read Article] Friday 3rd of March 2017 12:08:53 AM
....The firm was focused on desktop computers and printers, as demand for mobiles and tablets was taking off. Its fortunes started to decline with a series of expensive and much criticised acquisitions, including Compaq for $25bn in 2002, consultants EDS for $14bn in 2008 and Autonomy for $11bn in 2011. ...
Nick Candy accused of being secret partner in brother's property group image
Source : Guardian [Read Article] Thursday 2nd of March 2017 02:48:12 PM
.... The same man had previously posed as a member of the Saudi royal family as part of a bid to seek information on a banker, Geoffrey Logue, who launched legal action against the Candys over the fittings in his apartment at their One Hyde Park development. Holyoake approached the Candys in 2011 for a short-term loan to finance the acquisition of a period mansion block in London’s Belgravia, which he planned to refurbish and sell on at a profit. ...
Agent Provocateur founder brands Mike Ashley's purchase 'a stitch-up' image
Source : Guardian [Read Article] Thursday 2nd of March 2017 12:46:56 PM
....”. The acquisition is the latest stage of an attempt by Ashley, the founder and chief executive of Sports Direct, to move his business empire upmarket. ...
Property tycoon denies threatening business partner’s pregnant wife image
Source : Guardian [Read Article] Wednesday 1st of March 2017 08:09:33 PM
.... In a written witness statement, he described himself as a “hard negotiator when I need to be”, but denied that he would resort to threats or illegal acts in order to complete a transaction. Holyaoke approached the Candys in 2011 for a short-term loan to finance the acquisition of a period mansion block in London’s Belgravia, which he planned to refurbish and sell on at a profit. ...
ITV profits fall as advertising revenue slips image
Source : BBC [Read Article] Wednesday 1st of March 2017 07:37:00 AM
.... . "This makes any meaningful upside dependent on a takeover, as organic growth looks trickier, some very smart production acquisitions notwithstanding. ...
Trinity Mirror sees big rise in profits image
Source : BBC [Read Article] Monday 27th of February 2017 08:17:10 AM
....Trinity Mirror took control of Local World in October 2015 in a deal worth £220m, making it the UK's largest regional news publisher. The acquisition more than offset losses incurred by the group's failed national daily, the New Day. ...
Vauxhall production guaranteed until at least end of decade, PSA tells union image
.... Unite will be seeking to clarify whether previous assurances from Tavares that PSA would respect existing labour agreements indicate that jobs would be safe until 2020. Tavares has also discussed the Opel acquisition with Theresa May and Angela Merkel, the German chancellor, in separate telephone calls. ...
Education publisher Pearson reports biggest loss in its history image
Source : Guardian [Read Article] Friday 24th of February 2017 08:17:21 AM
....55bn non-cash charge for “impairment of goodwill reflecting trading pressures” in its North American businesses. A spokesman said the charge related mainly to historic acquisitions of Simon & Schuster Education and National Computer Systems, purchased in 1998 and 2000 respectively, as a “necessary consequence” of the lower profit expectations announced last month. ...
Unilever takes steps to fend off renewed bid from Kraft Heinz image
Source : Guardian [Read Article] Wednesday 22nd of February 2017 03:09:35 PM
....Kraft is now blocked from renewing its interest for six months under the UK’s takeover code, while Unilever has expressed confidence in the support it has from long-term investors. But management, led by the chief executive, Paul Polman, is thought to have been surprised that Unilever could be seen as an acquisition target and released two statements outlining plans to ensure shareholders wouldn’t be tempted by further takeover bids. ...
Theresa May must take £115bn hint from Kraft Heinz's failed Unilever bid image
Source : Guardian [Read Article] Monday 20th of February 2017 07:33:19 PM
.... Kraft is chiefly remembered in the UK for reneging on a jobs promise made during the takeover battle for Cadbury in 2010. The UK and Dutch governments have an interest in protecting their tax bases against the 3G-style technique of loading acquisitions with debt and thereby reducing taxable earnings. ...
How Unilever foiled Kraft Heinz's £115bn takeover bid image
Source : Guardian [Read Article] Monday 20th of February 2017 07:15:00 PM
....But Kraft Heinz will have been aware of Theresa May’s scepticism over foreign takeovers, including the controversial takeover of Cadbury by Kraft in 2010 when it reneged on commitments to save jobs. That deal prompted a change in the takeover code that provided for commitments made during the acquisition process to be made legally binding. ...
Vauxhall's future in UK is secure, says business secretary image
Source : Guardian [Read Article] Thursday 16th of February 2017 03:35:55 PM
.... Berlin has vowed to intervene to protect German jobs if the deal goes ahead. In a letter to Vauxhall staff sent on Tuesday, Barra wrote: “Our companies are currently exploring numerous strategic initiatives aimed at improving the profitability and operational efficiency of GM and PSA Groupe, including a potential acquisition of Opel Vauxhall by PSA Groupe. ...
Driverless trucks: economic tsunami may swallow one of most common US jobs image
Source : Guardian [Read Article] Thursday 16th of February 2017 12:00:02 PM
. In April 2016, Uber announced the acquisition of Otto, a San Francisco-based startup that has developed a kit that can turn any big rig into a self-driving truck. ...
Heineken may not refresh the pubs other beers could reach, landlords fear image
Source : Guardian [Read Article] Thursday 16th of February 2017 09:23:59 AM
. The competition watchdog is to scrutinise Heineken’s planned £305m acquisition of 1,900 pubs from Punch Taverns, a deal that will make the Dutch brewer the UK’s third-largest pub group. ...
General Motors looks to sell loss-making Vauxhall and Opel image
Source : Guardian [Read Article] Tuesday 14th of February 2017 01:42:44 PM
....GM and France’s PSA Group, which also owns Citroën, said they were discussing “numerous strategic initiatives . including a potential acquisition of Opel”. ...
Brexit: the price of post-truth pounds in our pockets image
Source : Guardian [Read Article] Sunday 12th of February 2017 06:59:00 AM
....Anyway, if there is a good time to get caught paying bungs, this wasn’t it, what with US president Donald Trump already hinting that he may have pharmaceuticals companies in his sights over drug pricing. All of which means that the company will try to talk about financials this week, with the City expecting a big boost to sales this year due to currency movements but also as a result of the integration of recent acquisitions. ...
Co-op CEO Richard Pennycook to step down image
Source : Guardian [Read Article] Tuesday 7th of February 2017 04:13:24 PM
....When Murrells took charge of the Co-op’s food business, it was struggling following the £1. 57bn acquisition of Somerfield in 2008 and he set about reinventing it as a convenience chain, shedding many of the supermarkets it had acquired, a shift that paid off. ...
Sports Direct's French Connection flutter looks like a fashion faux pas | Nils Pratley image
.... It’s almost as if he has heard the objections to past share-buying adventures, plus shareholders’ multiple other governance worries, and decided to send a message that he doesn’t give a fcuk. If your shares have performed like Reckitt Benckiser’s – £24 to £71 in the past decade – investors are inclined to smile on any big proposed acquisition. ...
Sports Direct buys French Connection stake as battle looms image
Source : Guardian [Read Article] Thursday 2nd of February 2017 12:13:28 PM
....It is not clear whether Sports Direct, which has a history of taking strategic stakes in related companies including Debenhams, JD Sports and the online specialist Findel, is interested in making a bid itself. It is understood there has been no contact between the sports group and French Connection about the share acquisition. ...
TalkTalk hoping for rapid results as Dunstone gets his hands dirty image
Source : Guardian [Read Article] Wednesday 1st of February 2017 07:29:32 PM
.... Non-executive directors were a luxury he didn’t require – he could hire two shop assistants for the same money and they would be more useful, he used to say. In 2004, on the day after the £3bn purchase of Safeway, he strode into his new acquisition’s head office and ignored standard pleasantries. ...
Shell sells more than half of its North Sea oil and gas fields for $3.8bn image
Source : Guardian [Read Article] Tuesday 31st of January 2017 01:10:31 PM
....”. Chrysaor said the acquisition demonstrated its belief that North Sea oil and gas production had real future potential. ...
Uber: the app that changed how the world hails a taxi image
Source : Guardian [Read Article] Sunday 29th of January 2017 07:00:17 AM
.... Over the years, whenever the mayor or the city’s board of supervisors tried to increase the number of permits, angry drivers would fill city council chambers or surround city hall, causing havoc. After the eBay acquisition, Camp splurged out on a red Mercedes-Benz C-Class sports car, but the vehicle sat in his garage. ...
Energy sector faces struggle to find the female engineers of the future image
Source : Guardian [Read Article] Saturday 28th of January 2017 04:00:04 PM
.... Drax is lobbying for a rethink, arguing that the UK needs stable low-carbon power to complement increasing amounts of wind and solar energy, but the prospect of a further subsidy is unlikely. The company signalled a new strategy last year with its acquisition of business energy supplier Opus Energy and four gas power stations, and is also looking to buy more wood pellet plants in the US. ...
Tesco to buy Budgens and Londis owner Booker in £3.7bn deal image
Source : Guardian [Read Article] Friday 27th of January 2017 07:18:45 AM
....The deal is expected to be scrutinised by the competition authorities as Tesco is already the country’s biggest retailer, with more than 3,500 stores and control of close to 30% of the grocery market. The proposed acquisition would turn Tesco into a major supplier to small retailers, serving 125,000 independent convenience stores as well as 468,000 restaurants and pubs. ...
Marmite maker: it was right to increase prices after Brexit vote image
Source : Guardian [Read Article] Thursday 26th of January 2017 02:20:25 PM
....89 after it revealed a slowdown in sales in the fourth quarter of 2016 and Polman warned of a “slow start” to 2017. Underlying sales – which exclude acquisitions, disposals and currency movements – rose 2. ...
Bernie Ecclestone, Sir Martin Sorrell and executives to reap $40m in F1 selloff image
.... The deal was fuelled with a mixture of cash and shares in Liberty handed to F1’s previous shareholders including the company’s management. Most of the shareholders are not able to sell their stock during a six-month lock-up period following completion of the acquisition but some of the management have an exemption and they are taking advantage of it. ...
BT loses almost £8bn in value as Italy accounting scandal deepens image
Source : Guardian [Read Article] Tuesday 24th of January 2017 11:20:33 AM
....Following these problems, BT said it now expected a double-digit fall in fourth quarter earnings, adjusting for the recent £12. 5bn acquisition of mobile group EE. ...
Financial firms in talks with Amsterdam over relocation from London image
Source : Guardian [Read Article] Monday 23rd of January 2017 05:34:01 PM
.... And the Dutch cap is much lower than the EU cap. I am now responsible for acquisitions and for getting companies to come to Amsterdam, and that is in a way – and I can understand it – a difficulty. ...
Can a $26m-a-year fund manager really rethink executive pay? image
Source : Guardian [Read Article] Tuesday 17th of January 2017 07:00:32 AM
.... BlackRock floated in New York four years later and, apart from taking a dive during the 2008 financial crisis, its share price has been on an upward trajectory ever since. A series of deals followed, notably including with Merrill Lynch over its fund management arm in 2006, and later the acquisition of Barclays’ fund management arm in the depths of the financial crisis. ...
Blind trusts: what do Theresa May and Donald Trump have in common? image
Source : Guardian [Read Article] Friday 13th of January 2017 01:41:32 PM
.... Downing Street refuses to reveal what shareholdings or other investments are involved, and will not say who is responsible for independently managing the trust. “Blind trusts are a well-established mechanism for protecting ministers in the handling of their interests, as they are not involved in any decisions on the management, acquisition or disposal of items in the trust,” a No 10 spokeswoman said. ...
FTSE 100 extends string of record rises image
Source : BBC [Read Article] Wednesday 11th of January 2017 08:31:20 AM
...."The real positive [for Sainsbury's] comes from Argos, which delivered a show-stopping 4. 1% leap in like-for-like sales, confirming just what an important strategic acquisition this was for the supermarket," said Neil Wilson from ETX Capital. ...
Record Christmas at Sainsbury’s 'shows logic of Argos takeover' image
Source : Guardian [Read Article] Wednesday 11th of January 2017 08:29:40 AM
....Sainsbury’s sales growth was boosted by a 10% rise in clothing sales, 9% growth online and a 6% rise in sales at its convenience stores. While food sales slipped back, Coupe insisted that Sainsbury’s had not become distracted by the Argos acquisition and expansion of its bank and non-food business. ...
No need to fret: Metal Hammer magazine saved from closure image
Source : Guardian [Read Article] Sunday 8th of January 2017 07:52:55 PM
....2m in 2013. “The acquisition of these classic rock brands with their associated magazines, events and websites marks a further step in our buy and build strategy,” said Zillah Byng-Thorne, chief executive of Future. ...
Snapchat accused of lying about user numbers to inflate value of IPO image
Source : Guardian [Read Article] Thursday 5th of January 2017 09:01:08 PM
....The startup is in a heated competition against Facebook for advertising money, especially in video and messaging. The corporations have waged an arms race of app features since 2013, when Snapchat rejected an acquisitions offer from Facebook. ...
Japanese company to buy UK's second biggest tyre supplier for £215m image
Source : Guardian [Read Article] Thursday 5th of January 2017 02:36:45 PM
....4bn) on 43 British firms last year, according to figures from financial markets analysis firm Dealogic. The lion’s share of last year’s spending was accounted for by SoftBank’s £24bn acquisition of smartphone chip maker ARM Holdings, unveiled in July. ...
Ascential to sell Drapers and Nursing Times as it ditches 'heritage' brands image
....In 2015, Ascential announced it was “retiring” the venerable Emap brand, which had been a publishing institution for almost 70 years. In the 1980s and 1990s Emap expanded via a series of launches and acquisitions to become a major UK media company encompassing local newspapers, trade and consumer magazines and radio. ...
CMA voices concerns over Mastercard's Vocalink deal image
Source : Guardian [Read Article] Wednesday 4th of January 2017 02:29:56 PM
....Mastercard said: “We’re pleased to have the opportunity to address their one concern, regarding the Link ATM scheme, in the timeframe provided. This acquisition promises to bring greater choice and innovation to the payment ecosystem, enabling people, governments and businesses to pay the way they want to pay. ...
RBS investors call for governance changes to improve transparency image
Source : Guardian [Read Article] Friday 30th of December 2016 08:06:35 AM
.... “One objective is to stop the events that took place at RBS from ever happening again,” he said. “A dominant CEO, concealing the true financial position of the company from investors, proceeding with a reckless acquisition, and then publishing a rights prospectus which concealed the problems faced by the company. ...
Toshiba shares plummet for third day running image
Source : Guardian [Read Article] Thursday 29th of December 2016 08:27:03 AM
....“Although Toshiba is still assessing the exact amount of the impairment loss, its financial metrics will likely deteriorate further, potentially resulting in a negative equity position,” said Masako Kuwahara, Moody’s lead analyst for Toshiba. Moody’s said the downgrade also reflected mounting concerns over corporate governance, especially in relation to due diligence for acquisitions. ...
UK firms' finance bosses say uncertainty is 'new normal' image
Source : BBC [Read Article] Thursday 29th of December 2016 12:10:57 AM
.... . About 48% also expect hiring and mergers and acquisition activity to slow down. ...
Boohoo set to bid for US fashion label Nasty Gal image
Source : Guardian [Read Article] Wednesday 28th of December 2016 06:11:19 PM
....The $20m proposed deal will be considered by a US court, which is set to approve Nasty Gal’s application for chapter 11 – the US form of bankruptcy – on 5 January. The potential acquisition comes less than a month after Manchester-based Boohoo spent £3. ...
Santa Rally sends FTSE 100 to new record high image
Source : BBC [Read Article] Wednesday 28th of December 2016 09:49:18 AM
....The online retailer wants the brand and customer databases of Nasty Gal, which filed for bankruptcy in November. The move follows Boohoo's recent acquisition of rival site Pretty Little Thing for £3. ...
US cyber fraud: Three men accused of $4m insider deal image
Source : BBC [Read Article] Wednesday 28th of December 2016 08:52:27 AM
....One of the defendants has been arrested while the other two are still at large. Manhattan Attorney Preet Bharara warned the case should serve as a wake-up call for law firms who now have to worry about cyber fraud in addition to the threat posed by a rogue employee making money out of forthcoming mergers and acquisitions. ...
Toshiba shares fall 20% as nuclear writedown sinks in image
Source : Guardian [Read Article] Wednesday 28th of December 2016 06:10:42 AM
....60 yen, the largest fall allowed for a single day, about 30 minutes after the opening bell, as the company failed to remove investor worries over the potential risk. On Tuesday the Tokyo-based conglomerate said costs linked to the acquisition in 2015 by its US subsidiary of a nuclear service company would possibly come to “several billion US dollars, resulting in a negative impact on Toshiba’s financial results”. ...
Brexit, strikes and pay revolts: the year in business image
Source : Guardian [Read Article] Wednesday 28th of December 2016 06:00:27 AM
.... However, the competition commissioner, Margrethe Vestager, later said the full amount may not be payable to Ireland. In the empire-building stakes, supermarket chain Sainsbury’s won control of Argos, Shire Pharmaceuticals took over Baxalta, ABInBev, the world’s biggest brewer, completed its £79bn acquisition of SAB Miller and as the year drew to a close, Rupert Murdoch’s 21st Century Fox lodged an £11. ...
China to rein in outward investment as domestic growth stalls image
Source : Guardian [Read Article] Monday 26th of December 2016 03:54:56 PM
....He said the government would “promote the healthy and orderly development of outbound investment and cooperation in 2017”, in remarks at a conference that were published on the commerce ministry’s website. In November it was reported that China was preparing a clampdown on non-Chinese mergers and acquisitions. ...
UK's biggest wrapping paper maker: 'It can be Christmas every day' image
Source : Guardian [Read Article] Friday 23rd of December 2016 01:13:37 PM
....”. Loss-making and struggling under a mountain of debt in 2008 after a string of acquisitions, IG has survived by restructuring, and broadening its product ranges to include stickers, gift bags and other new products alongside traditional wrap and cards. ...
Sainsbury's chief Mike Coupe stocks up for future image
Source : Guardian [Read Article] Thursday 22nd of December 2016 07:00:40 AM
....5% over the next few years, clawing back the margin lost during the rise of the discounters. But some analysts argue that the Argos acquisition has only exposed Sainsbury’s to more risk and inflationary cost pressures. ...
Italy's political class should be very alarmed if MPS needs state bailout image
Source : Guardian [Read Article] Wednesday 21st of December 2016 07:38:35 PM
.... Half the country is rich. It ought to be possible for a bank founded in 1472 to shuffle off its bad loans, even at depressed prices, overcome its foolish acquisitions from the boom years and regain a profitable niche. ...
Lloyds's MBNA deal: good for the bank, bad for competition | Nils Pratley image
Source : Guardian [Read Article] Wednesday 21st of December 2016 12:01:02 AM
.... The first is to applaud Lloyds’ escape from the hell of restructuring and provisioning. The bank hadn’t made an acquisition since the miserable crisis-era grab of HBOS, the deal that came with a state-sponsored bailout. ...
London shares rise to two-month high image
Source : BBC [Read Article] Tuesday 20th of December 2016 12:30:27 PM
Facebook accused over WhatsApp takeover image
Source : BBC [Read Article] Tuesday 20th of December 2016 11:45:31 AM
...."Companies are obliged to give the Commission accurate information during merger investigations," said Commissioner Margrethe Vestager, who is in charge of competition policy,. "In this specific case, the Commission's preliminary view is that Facebook gave us incorrect or misleading information during the investigation into its acquisition of WhatsApp. ...

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