Exclusive: EY plans major private equity push as audit reform looms over sector January 19, 2020 Big Four firm EY is planning a major private equity push as it grapples with potential regulatory changes that could dramatically alter the face of the firm, Morning Wire can reveal. Its transaction advisory division is understood to be looking to boost its capabilities in the private equity sector, with the goal of winning more [...]
Value of UK deals almost doubled in ‘spectacular’ end to 2019 January 16, 2020 The value of UK private equity and venture capital deals almost doubled in the last quarter of 2019, boosted by a spate of mega-buyouts worth over €1bn (£854m). Although the total number of deals fell during the three months to 31 December, six mega-buyouts helped propel overall UK deal value to €27bn — an 80 [...]
Relx buys ID Analytics for $375m January 13, 2020 Relx today said it had agreed to buy ID Analytics from Norton Life Lock (NLL) for $375m (£288m). ID Analytics will become part of Lexis Nexis Risk Solutions, part of Relx’s risk and business analytics arm and its fastest-growing division. Founded in 2002, San-Diego based ID Analytics provides credit and fraud risk solutions for enterprises [...]
London Stock Exchange set to send $27bn Refinitiv deal to EU regulators January 13, 2020 The London Stock Exchange Group is reportedly set to file its $27bn (£20.8bn) deal to buy financial data group Refinitiv with EU antitrust authorities, following extensive discussions with Brussels over the scope of its investigation into the merger. The two sides have not yet resolved the issue of what constitutes “the market” against which the [...]
Deals fell to lowest volume in six years in 2019 January 9, 2020 Global deal making fell last year to its lowest levels since 2013. In 2019 there were 774 transactions valued at over $100m (£76m) completed worldwide, compared with 904 deals in 2018, and the lowest annual volume recorded since 2013 (720). Major deals last year included Marsh & McLennan’s £4.6bn acquisition of insurance broker Jardine Lloyd [...]
Fiat Chrysler-Peugeot merger: French shareholders look for board control December 15, 2019 French shareholders are looking for confirmation that they will keep a numerical advantage on the combined board of PSA and Fiat Chrysler if CEO Carlos Tavares leaves after the two companies merge. The two firms are putting the finishing touches to a $50bn merger plan announced in October, that would create the fourth largest car [...]
Watchdog probes Viagogo’s $4bn Stubhub buyout on competition grounds December 13, 2019 Regulators will investigate whether secondary ticketing site Viagogo’s buyout of rival Stubhub will lessen competition in the market, it was announced this morning. The Competition and Markets Authority (CMA) is looking into whether to open a phase one inquiry into the $4bn (£3.1bn) transaction. Read more: Ebay to sell Stubhub to Viagogo for $4bn Stubhub, [...]
Puregym expands in Europe with £350m acquisition of Fitness World December 12, 2019 The UK’s largest gym operator Puregym today announced the acquisition of European business Fitness World in a £350m deal. Puregym was acquired by private equity firm Leonard Green & Partners in 2017 in a deal that valued the business at £600m. Its acquisition of Fitness World gives the business a market-leading position in Denmark as [...]
Margrethe Vestager says EU will review competition rules in light of increasing digitalisation December 9, 2019 The EU will review its rules on how it defines markets to react to increasing digitalisation, EU competition chief Margrethe Vestager said today. Vestager said it was time to review the EU’s market definition notice which has been in place since 1997. “Changes like globalisation and digitisation mean that many markets work rather differently from [...]