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A small, last minute cash call…
Three Alphavillans are running around Canary Wharf in East London this evening in support of the British Heart Foundation.
Left to right: Lisa Pollack, David Keohane and Masa Serdarevic
Click here to make it worth their while.
A new step for Man (and sector valuations generally?)
Man Group caught the hedgie sector off-guard on Monday with an intriguing deal to buy institutional fund-of-funds specialist FRM Holdings.
It’s intriguing because Man seems to have acquired an extra $8bn of assets under management for the princely sum of nothing.
GKP threatens to sue speculators (the bad kind)
“Live by the sword, die by the sword” does not translate into Kurdish, it seems.
Gulf Keystone Petroleum Ltd. (AIM: GKP)
(“Gulf Keystone” or “the Company”)
Response to Speculation
Gulf Keystone notes the continued and unfounded speculation on various bulletin boards and other social media sites regarding an alleged planned placing of the Company’s shares at 160p per share.
Vodafone puts up for CWW
To the tune of 38p a share (the shares closed 2p lower at 32p on Friday):
Ÿ Vodafone Europe B.V. (“Vodafone”) and Cable & Wireless Worldwide plc (“CWW” or the “Company”) are pleased to announce that they have reached agreement on the terms of a recommended cash offer pursuant to which Vodafone will acquire the entire issued and to be issued ordinary share capital of CWW.
What’s going on with PPR?
We don’t know. That’s the first thing to make clear.
In the hotel bars of Mayfair, not knowing what’s happening with PPR would appear to put us in the minority. Every quiet conversation of late has revolved around the Paris-based company,
International Power and GDF Suez agree terms
Mop up terms — Suez is acquiring the 30 per cent in International Power it does not already own:
- 418p a share
- IPR Shareholders receive 6.6p divi for 2011
- Scheme of arrangement
This values the whole of IPR at just under £23bn – a 21 per cent premium on the share price before the deal leaked at the end of February.
“D” is for data and that’s good enough for Markit
“Me want data!”
London and New York, NY – Markit, a leading, global financial information services company, today announced the acquisition of Data Explorers, a leading provider of global securities lending data,
M&Aybe a reason for a resilient pound?
So, the UK has apparently been the most targeted nation for inbound M&A in 2012 so far, coming out on top in both nominal terms and as a percent of GDP.
Credit Suisse suggest that this fact might partially explain sterling’s resilience to poor economic data and to the Bank of England’s increasingly dovish policy surprises,
Temenos walks away from Misys
Having fulfilled its role as M&A baitware….
GENEVA, Switzerland – 12 March 2012 – Further to the announcement by Temenos and Misys on 7 February 2012 that the parties were in discussions regarding a possible all share merger,
Vodafone edging towards C&WW bid
Vodafone, the FTSE 100 telecoms group, is edging towards making an indicative offer for Cable & Wireless Worldwide ahead of the Takeover Panel’s ‘put-up-or-shut-up’ deadline on Monday, reports the FT. Vodafone has been working towards making a formal bid for C&W Worldwide in the past few days,
Where bears should beware
There’s no reason to panic here. M&A is still in the doldrums. But it’s also the case that at some point companies will start deploying those record mountains of cash on their balance sheets.
When that happens,
New Hope scraps A$6bn auction plan
New Hope Corp, the Australian thermal coal company, has abandoned plans for a A$6bn ($6.4bn) sale after a five-month auction failed to draw a bid. The FT reports New Hope was put on the block in October after being approached by potential suitors that included Indian conglomerate Aditya Birla and Vedanta Resources,
Blowout!
Click the image on the right for the news.
Shares in 2nd/3rd tier oil and gas prospectors can go down as well as up.
The back story here is that the London market has been gripped by takeover speculation in the wake of a bidding war for Cove Energy,
Vedanta to merge resources divisions
Vedanta, the FTSE 100 metals, mining and oil group, has announced the merger of various subsidiaries as the next step of its founder’s ambitious plan to build India’s first global natural resources business,
Required reading for Glenstrata advisers
From the FT on Friday:
Executives at Glencore, the world’s largest commodities trader, and Xstrata, the mining group, had been confident that their deal would not require a formal investigation by the European Commission.
Hermes takes reins at three Westfield malls
Hermes Real Estate, one of the UK’s largest property fund managers, with net assets of £5bn, has taken control of three shopping centres from Westfield, the Australian developer, reports the FT. Hermes,
Bumi investors reach EGM accord
The Indonesian investors in coal miner Bumi have said UK financier Nat Rothschild can stay on the company’s board, but only if he steps down as co-chairman and stops being a “disruptive influence” over his calls for a shake-up at PT Bumi Resources,
Loeb targets Yahoo board after Alibaba talks stumble
Yahoo’s discussions to sell its stake in Alibaba Group and its Japanese operations in a tax-efficient manner have reached an impasse, says Bloomberg, citing a person briefed on the matter. Representatives of Alibaba and Softbank,
Chesapeake plans $12bn in asset sales
Chesapeake Energy is seeking to raise up to $12bn through asset sales this year, as the company seeks to plug a funding gap that has been exacerbated by low natural gas prices, reports the FT. The second-largest US gas producer had already responded to decade-low prices by idling rigs and seeking to raise production of oil and liquid natural gas,
C&WW&Voda
A major telecom company said it was in the early stages of thinking about euthanising a corporate basket-case on Monday.
Cable & Wireless Worldwide shares were up 28 per cent at pixel time:
FT Alphaville were left scratching their heads about what Vodafone might want.
Junk bond market revives LBOs
The big leveraged buy-out groups of the credit boom have gained renewed access to funds as the junk bond market has rallied and buyers have flocked to the highest-yielding assets, says the FT. Energy Future Holdings,
[SFTW] ‘orrible merger! Read all about it!
If he’s selling, I’m not buying. This was an excellent plan with last year’s public offer of Glencore shares. Dazzled by the fees and muzzled by the conflicts of interest, very few mining analysts were in a position to say what they thought.
Alibaba to take HK unit private
Chinese e-commerce company Alibaba Group plans to take its Hong Kong-listed unit private, says Reuters, citing two sources familiar with the matter said. The news agency says Alibaba is working with Yahoo on
American Airlines creditors want merger
Some American Airlines unsecured creditors increasingly feel the bankrupt airline should explore a deal with US Airways Group or another carrier, after hearing parent company AMR Corp’s plan to remain independent,
Illumina rebuffs Roche again
The US diagnostics company Illumina has rejected Roche’s $5.7bn hostile takeover bid, calling the offer “grossly inadequate” and urging stockholders not to tender their shares. Roche, the Swiss pharmaceuticals company,
Glencore and Xstrata face blocking threat
Several large investors have threatened to block Glencore and Xstrata’s proposed all-share merger, which would create a $90bn commodities giant in the largest global mining deal on record, reports the FT.
BHP says Xstrata Glencore deal makes little difference
BHP Billiton, the world’s biggest mining company, sees no reason to change its strategy in light of Glencore’s proposed merger with Xstrata, the FT reports. “People have asked me does this deal make a difference to you,
Glencore and Xstrata agree $90bn deal
Glencore and Xstrata on Tuesday announced an all-share merger that would create a $90bn giant combining the world’s largest commodities trading house with one of the biggest miners of thermal coal, copper,
Glenstrata — some backlash? [updated with more backlash]
The Scheme will be subject to the following conditions:
2.1 its approval by a majority in number of the Scheme Shareholders who are on the register of members of Xstrata at the Scheme Voting Record Time,
South Korean groups ramp up foreign deals
South Korean companies have embarked on a buying spree for European assets on the back of strong cash reserves and a rising global profile as the protracted debt crisis in Europe presents them with increasing opportunities to snap up distressed assets. Big Korean companies,