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’Your time to evaluate this deal starts … now
This is interesting. Well, certainly more interesting than Tuesday’s official statement from G4S explaining its decision to abandon a £5.2bn bid for Danish company ISS.
It’s an employee Q&A that shows G4s tried to renegotiate the terms of the acquisition and selected,
Snap news
Breaking pre-market news on Tuesday,
- G4S abandons £5.2bn bid for ISS — statement.
- Bakrie Group sells half of its 47 per cent stake in Bumi to Indonesia Borneo investor for $1bn, or £10.91p a share.
G4SISS RIP
Is this the final nail in the coffin for the G4s/ISS deal?
Statement from Harris Associates.
In a word, yes.
Harris (4.9 per cent) is the third biggest shareholder in G4s and it’s difficult (in fact almost impossible) to see the highly ambitious £5.2bn deal being voted through at Wednesday’s EGM without the support of the influential Herro.
Presenting G4SISS
Bold, strategic, reckless?
There are a number of ways to view G4S’s proposed acquisition of Danish rival ISS for £5.2bn.
It’s certainly bold. ISS is a bigger business than G4s – revenues of £8.55bn against £7.39bn — and G4S expects to deliver double-digit EPS accretion and double-digit post-tax ROIC within three years.
Snap news
Breaking pre-market news on Monday,
- G4S to buy rival ISS for £5.2bn; to be part financed by £2bn rights issue — statement and statement.
- BP drops Gulf of Mexico claims against Anadarko following $4bn payment — statement.
Snap news
Breaking pre-market news on Tuesday,
- UBS to cut 3,500 jobs, to take SFr450m restructuring charge in second half — statement.
- G4S group turnover up 5 per cent, says it has “strong pipeline of M&A opportunities”
Snap news
Breaking pre-market news on Monday,
- Sonova announces $489m cash acquisition of Advanced Bionics Corporation – statement.
- Partygaming acquires WPT Enterprises, owner of the World Poker Tour brand,
Cash calls grow beyond UK’s bank sector
British companies have gone running to shareholders for fresh cash this week, as the bank capital raisings of recent weeks have spread to sectors from media to transport and five companies announced rights issues or discounted share placements.
Market heist? Permira said to be finalising £3.5bn bid for Group 4 Securicor
An alleged breakdown in security at Group 4 Securicor. Word reaches FT Alphaville that Permira is close to announcing a buyout of the world’s largest provider of security services. Educated guessers put the take-out price at a little under £3.5bn,