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.... "They don't have to follow the lead of, say Marks and Spencer," says Peel Hunt's John Stevenson. Over the past 12 months, Boohoo has bolstered its international expansion plans through its £20m acquisition of struggling US fashion site Nasty Gal, which it completed in February. ... [Read full article on BBC ]
Wednesday 26th of April 2017 06:17:43 AM
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....Mr Arnault said the move would be an "important milestone" and underlined the confidence of his family group in LVMH. "The corresponding transactions will allow the simplification of the structures, long requested by the market, and the strengthening of LVMH's Fashion and Leather Goods division thanks to the acquisition of Christian Dior Couture, one of the most iconic brands worldwide," he said. ... [Read full article on BBC ]
Tuesday 25th of April 2017 11:31:29 AM
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.... Today’s captains of industry publicize their social position with private islands and superyachts while the president of the United States covers nearly everything he owns in gold. But the acquisition of insanely expensive commodities isn’t the only way that modern elites project power. ... [Read full article on Guardian ]
Monday 24th of April 2017 06:00:04 AM
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.... Macquarie, the sole Australian investment manager included in this index, rated a D. The report said this was “a cause for concern giving its impending acquisition of the UK’s Green Investment Bank” and called on it to “dramatically improve its climate credentials”. ... [Read full article on Guardian ]
Tuesday 25th of April 2017 08:00:15 PM
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....Arnault, France’s richest man and chief executive of LVMH, which was formed from the 1987 merger of fashion house Louis Vuitton with champagne and cognac producer Moët Hennessy, hailed the deal as an “important milestone” for the group. He said the transactions demonstrated his family’s commitment to LVMH and would result in “the simplification of the structures, long requested by the market, and the strengthening of LVMH’s fashion and leather goods division thanks to the acquisition of Christian Dior couture”. ... [Read full article on Guardian ]
Tuesday 25th of April 2017 10:15:06 AM
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....Sports Direct, majority owned by its chief executive Mike Ashley, is under pressure after a Guardian investigation in 2015 into its working conditions and investor criticism of its corporate governance standards. Analysts said the US acquisition would distract the company from efforts to lift its UK performance. ... [Read full article on Guardian ]
Friday 21st of April 2017 03:41:12 PM
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....“Founded on Fit, Focused on Style, Built on Service” – that’s the retail promise offered by Bonobos, the men’s e-tailing business that’s being courted by Walmart and idolized by the garment industry as a model for reviving US retail woes. The $300m acquisition of the chain, which has more than two dozen stores or “guideshops” in key cities like Chicago, New York and Atlanta, is likely to be announced imminently, according to industry sources. ... [Read full article on Guardian ]
Saturday 22nd of April 2017 11:00:12 AM
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....Isle of Wight Festival founder John Giddings said the partnership would "give us the ability to access the company's scale and talent pool, bringing more acts and a better experience to the UK". Live Nation has been on a buying spree recently, making eight major acquisitions worldwide in 2016, while the Isle of Wight Festival deal marked its sixth so far this year. ... [Read full article on BBC ]
Wednesday 26th of April 2017 09:47:24 AM
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....Announcing the appointment of Dobbs, Lloyds said: “Dame Linda, a retired high court judge, has been selected for her considerable experience of working on fraud cases and track record of chairing enquiries. This independent assessment will cover the period following HBOS’s acquisition in January 2009, through to the conclusion of the criminal trial on 30 January 2017. ... [Read full article on Guardian ]
Wednesday 26th of April 2017 11:03:08 AM
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Latest Finance News related to Acquisition

Lloyds appoints ex-high court judge to review handling of HBOS fraud image
Source : Guardian [Read Article] Wednesday 26th of April 2017 11:03:08 AM
....Announcing the appointment of Dobbs, Lloyds said: “Dame Linda, a retired high court judge, has been selected for her considerable experience of working on fraud cases and track record of chairing enquiries. This independent assessment will cover the period following HBOS’s acquisition in January 2009, through to the conclusion of the criminal trial on 30 January 2017. ...
Isle of Wight Festival takeover bid by Live Nation investigated image
Source : BBC [Read Article] Wednesday 26th of April 2017 09:47:24 AM
....Isle of Wight Festival founder John Giddings said the partnership would "give us the ability to access the company's scale and talent pool, bringing more acts and a better experience to the UK". Live Nation has been on a buying spree recently, making eight major acquisitions worldwide in 2016, while the Isle of Wight Festival deal marked its sixth so far this year. ...
Boohoo online fashion retailer sees its profits double image
Source : BBC [Read Article] Wednesday 26th of April 2017 06:17:43 AM
.... "They don't have to follow the lead of, say Marks and Spencer," says Peel Hunt's John Stevenson. Over the past 12 months, Boohoo has bolstered its international expansion plans through its £20m acquisition of struggling US fashion site Nasty Gal, which it completed in February. ...
Most global investors recognise financial risk of climate change, report finds image
.... Macquarie, the sole Australian investment manager included in this index, rated a D. The report said this was “a cause for concern giving its impending acquisition of the UK’s Green Investment Bank” and called on it to “dramatically improve its climate credentials”. ...
Christian Dior and LVMH combined by French billionaire image
Source : BBC [Read Article] Tuesday 25th of April 2017 11:31:29 AM
....Mr Arnault said the move would be an "important milestone" and underlined the confidence of his family group in LVMH. "The corresponding transactions will allow the simplification of the structures, long requested by the market, and the strengthening of LVMH's Fashion and Leather Goods division thanks to the acquisition of Christian Dior Couture, one of the most iconic brands worldwide," he said. ...
Luxury goods giant LVMH grabs full control of Christian Dior image
Source : Guardian [Read Article] Tuesday 25th of April 2017 10:15:06 AM
....Arnault, France’s richest man and chief executive of LVMH, which was formed from the 1987 merger of fashion house Louis Vuitton with champagne and cognac producer Moët Hennessy, hailed the deal as an “important milestone” for the group. He said the transactions demonstrated his family’s commitment to LVMH and would result in “the simplification of the structures, long requested by the market, and the strengthening of LVMH’s fashion and leather goods division thanks to the acquisition of Christian Dior couture”. ...
The new status symbol: it’s not what you spend – it’s how hard you work image
.... Today’s captains of industry publicize their social position with private islands and superyachts while the president of the United States covers nearly everything he owns in gold. But the acquisition of insanely expensive commodities isn’t the only way that modern elites project power. ...
As more buy clothes online, Walmart eyes a piece of the action image
Source : Guardian [Read Article] Saturday 22nd of April 2017 11:00:12 AM
....“Founded on Fit, Focused on Style, Built on Service” – that’s the retail promise offered by Bonobos, the men’s e-tailing business that’s being courted by Walmart and idolized by the garment industry as a model for reviving US retail woes. The $300m acquisition of the chain, which has more than two dozen stores or “guideshops” in key cities like Chicago, New York and Atlanta, is likely to be announced imminently, according to industry sources. ...
Sports Direct's £78m move into US retail stuns analysts image
Source : Guardian [Read Article] Friday 21st of April 2017 03:41:12 PM
....Sports Direct, majority owned by its chief executive Mike Ashley, is under pressure after a Guardian investigation in 2015 into its working conditions and investor criticism of its corporate governance standards. Analysts said the US acquisition would distract the company from efforts to lift its UK performance. ...
Reckitt Benckiser says Mead Johnson takeover on track image
Source : BBC [Read Article] Friday 21st of April 2017 07:17:50 AM
. Consumer goods giant Reckitt Benckiser has confirmed its acquisition of baby formula firm Mead Johnson should be completed by the end of September. ...
Weetabix sold to US firm after breakfast cereal fails to catch on in China image
....“Combining together two category leaders [Alpen] continues our strategy of strengthening our portfolio in stable categories and diversifying into new markets, bringing much-loved brands to significantly more customers globally. We are excited about the growth opportunities that this acquisition brings. ...
Weetabix to be sold to US company Post Holdings image
Source : BBC [Read Article] Monday 17th of April 2017 11:07:28 PM
....Weetabix - made in the UK since 1932 - was put up for sale in January by China's Bright Food, which bought a 60% stake in 2012. Bright's acquisition was the largest by a Chinese firm at the time, but it is believed to have struggled to build significant market share in China. ...
Boutique gin and whisky boom spooks big spirit brands image
Source : Guardian [Read Article] Sunday 16th of April 2017 11:01:07 PM
....”. The boom in the sector is also being fuelled by a flurry of merger and acquisition activity, as the global giants attempt to get in on the artisan market. ...
Netflix nudges 100m subscribers but what next for the streaming giant? image
Source : Guardian [Read Article] Saturday 15th of April 2017 09:00:21 AM
.... The big returning titles this year are not film sequels but new series of Netflix smashes: House of Cards, Stranger Things, Orange is the New Black and Bloodline are all returning. Referring to the catalogue changes, Broughton added: “To some extent, churn in catalogue is always going to happen – it’s how services keep their platforms looking fresh – but these are examples in a wider trend of focusing the catalogue on newer and more targeted acquisitions and original content. ...
Bernard Matthews seller 'lined own pockets' by rejecting pension offer image
....BPO, which also wrote to Field last month, said: “BPO made an offer to acquire the whole of the share capital of Bernard Matthews which would have entailed BPO taking on the Bernard Matthews pension scheme and its deficit, but this offer was rejected by Rutland and its advisers. “Mr Boparan takes his responsibilities with regard to pension commitments extremely seriously and this can be evidenced by the way that he has increased his funding to the Northern Foods pension scheme since its acquisition by BHL [Boparan Holdings Limited, another family vehicle]. ...
Toshiba's US nuclear problems could provide cautionary tale for UK image
Source : Guardian [Read Article] Friday 14th of April 2017 07:00:27 AM
.... Regulatory issues had also delayed construction. Toshiba’s losses stem from Westinghouse’s acquisition in 2015 of the nuclear construction business CB&I Stone & Webster, which it hoped would solve the delays on the two sites. ...
Sensors, scanners and surveillance: at the expo to outfit Trump's border wall image
.... He has given me an order. We’re following that order,” said Mark Borkowski, head of acquisitions for US Customs and Border Protection (CBP). ...
Banks cracking down on lending after borrowing binge, survey finds image
Source : Guardian [Read Article] Thursday 13th of April 2017 12:53:17 PM
....For corporate lending, the Bank said its survey showed that following “significant falls” in demand from small and medium-sized businesses in the final three months of 2016, there were further falls in demand for lending from medium-sized businesses in the opening months of 2017. “Lower capital investment was reported to be exerting a significant drag on demand for corporate lending in the first quarter, although increased merger and acquisition activity had pushed up on demand,” the Bank’s report on its survey said. ...
Imax reveals European cinema expansion plan image
Source : BBC [Read Article] Tuesday 11th of April 2017 02:38:08 PM
....". AMC is making the investment five months after taking over Odeon and a month after its acquisition of Nordic Cinemas. ...
Rupert Murdoch's Sky takeover approved by European regulator image
Source : Guardian [Read Article] Friday 7th of April 2017 04:07:03 PM
.... “Fox and Sky are mainly active in different markets in Austria, Germany, Ireland, Italy and the UK. They compete with each other only to a limited extent, mainly in the acquisition of TV content and in the wholesale supply of basic pay-TV channels. ...
Lloyds expects payouts to HBOS fraud victims to total £100m image
Source : Guardian [Read Article] Friday 7th of April 2017 08:16:49 AM
....The lender added that it has already “suffered losses and/or provided for at least £250m of credit losses” in relation to the affected cases at HBOS Reading in previous financial periods. Lloyds also announced it would appoint a senior independent lawyer to consider whether the issues relating to HBOS Reading were investigated and appropriately reported to authorities at the time, following its acquisition of HBOS. ...
£100MILLION - that's how much Lloyds expects to pay out in fraud compensation image
....The lender added that it has already "suffered losses and/or provided for at least £250 million of credit losses" in relation to the affected cases at HBOS Reading in previous financial periods. Lloyds also announced that it will appoint a senior independent lawyer to consider whether the issues relating to HBOS Reading were investigated and appropriately reported to authorities at the time, following its acquisition of HBOS. ...
Unilever bins Flora – but butters up its shareholders | Nils Pratley image
Source : Guardian [Read Article] Thursday 6th of April 2017 06:21:41 PM
.... In purely business terms, one listing in one currency is better than two in two. It makes acquisitions simpler. ...
Heathrow owner halts future UK investment over Brexit image
Source : BBC [Read Article] Thursday 6th of April 2017 08:20:31 AM
....Brexit may even have "positive side effects", including a more favourable view of Heathrow expansion, he added. The comments referred to future merger and acquisition deals, Ferrovial said. ...
Krispy Kreme owner pays $7.5bn for Panera Bread chain image
Source : BBC [Read Article] Wednesday 5th of April 2017 04:05:19 PM
....JAB Holdings also controls coffee brands Douwe Egberts and Peet's, as well as the luxury shoe maker Jimmy Choo and beauty firm Coty. The acquisition is the biggest US restaurant deal, according to S&P Global Market Intelligence. ...
RBS plan faces European Commission investigation image
Source : BBC [Read Article] Tuesday 4th of April 2017 03:42:35 PM
....The divestment was one of several requirements from the European Commission, in giving permission for the government bail-outs of RBS in 2008 and 2009. It also had to sell some overseas operations and divisions, slim its balance sheet substantially, and it was barred from further acquisitions. ...
Oath is new name for AOL-Yahoo combined company image
Source : BBC [Read Article] Tuesday 4th of April 2017 06:55:15 AM
. Verizon plans to combine AOL and Yahoo into a new company called Oath, after completing the acquisition of Yahoo. ...
Reckitt Benckiser slashes boss's pay by 40% image
Source : BBC [Read Article] Friday 31st of March 2017 02:22:16 PM
.... . It also said it would be reducing his share awards for 2017 if RB's proposed acquisition of Mead Johnson went ahead. ...
Paramount looks to Disney model to recover after string of flops image
Source : Guardian [Read Article] Thursday 30th of March 2017 12:13:26 PM
....Paramount, which used to distribute films for Marvel and Dreamworks, never got off the start line when they were sold. However, buying success through acquisitions is not the only way to get to build a competitive film studio. ...
Johnston Press reports £300m loss after huge newspaper writedown image
Source : Guardian [Read Article] Wednesday 29th of March 2017 08:59:13 AM
....3m in profits in the eight months to the end of last year. The company said the non-cash writedown related to a string of acquisitions in the early part of this century, such as the Scotsman newspaper group, which was acquired for £160m in 2005. ...
UK nuclear plans could be hit by Westinghouse financial crisis image
Source : Guardian [Read Article] Tuesday 28th of March 2017 06:47:55 PM
....Westinghouse is a behemoth in the world of nuclear vendors, with its technology in about half the world’s reactors. But it is facing a writedown of billions of dollars over its acquisition of a nuclear construction and services business. ...
Amazon to buy Middle East online retailer Souq image
Source : BBC [Read Article] Tuesday 28th of March 2017 10:08:10 AM
....". Souq chief executive and co-founder Ronaldo Mouchawar said: "We are guided by many of the same principles as Amazon, and this acquisition is a critical next step in growing our e-commerce presence on behalf of customers across the region. ...
Tesco warned over cost of £3.7bn Booker takeover image
Source : BBC [Read Article] Monday 27th of March 2017 06:47:15 PM
...."Tesco have had to pay a premium and have made an assumption that profits are going to continue to grow in the future. "History suggests that the vast bulk of acquisitions destroy value for the acquiring shareholders in instances where you buy a high multiple. ...
Two Tesco shareholders oppose £3.7bn takeover of wholesaler Booker image
Source : Guardian [Read Article] Monday 27th of March 2017 06:04:28 PM
.... It was first reported by the Financial Times. The letter adds: “All management teams believe that their acquisitions will create value. ...
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. ...

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