Private equity giant Advent to sell remaining stake in Equiniti December 12, 2016 Private equity giant Advent International is expected to announce the sale of its remaining stake in investor services firm Equiniti tomorrow morning. The share registrar floated on the London Stock Exchange in October 2015 and Advent is in the process of selling its remaining eight per cent stake through an accelerated bookbuild. Read more: TGI Friday: [...]
Fox set to make formal cash bid for Sky this week amid scrutiny from investors and politicians December 12, 2016 Rupert Murdoch’s 21st Century Fox is set to push ahead with a formal £10.75-per-share cash offer for Sky this week amid discontent from certain shareholders and politicians. The bid, to increase Fox’s shareholding in Sky from 39 per cent to 100 per cent, values the broadcaster at around £18.5bn. Sky shareholder Standard Life, which has a [...]
EU regulator set to focus on derivatives clearing in exchange merger probe December 12, 2016 EU competition regulators probing the London Stock Exchange’s (LSE) merger with Deutsche Boerse are set to narrow their focus on derivatives clearing this week. And, with the European Commission’s statement of objections due in the coming days, Morning Wire understands the LSE is seeking to push through the sale of its French clearing business, LCH [...]
Another British tech firm has been bought by a foreign company December 12, 2016 Shares in e2v, the British tech firm which supplies imaging sensors that help the Hubble space telescope and the Mars Curiosity Rover take pictures, have jumped almost 50 per cent after agreeing a £620m sale to US-based Teledyne. In the latest example of a US firm being snapped up by a foreign company, the conglomerate [...]
Standard Life adds to pressure on Sky to demand more from Murdoch’s Fox December 12, 2016 Sky is coming under increasing pressure to push for a higher takeover bid from Rupert Murdoch’s 21st Century Fox. The two companies said at the end of last week that they had reached a deal in principle at £10.75 per share for Fox to acquire the 61 per cent of Sky it does not currently [...]
It’s a deal: Amundi pays €3.5bn to Unicredit for Pioneer Investments December 12, 2016 Shares in Unicredit jumped over three per cent this morning after French asset manager Amundi sealed the deal to buy Pioneer Investments from the Italian lender for €3.5bn (£2.9bn) Before the transaction even closes, Unicredit's cash coffers will be bolstered by a €315m payment from Pioneer to its soon-to-be former parent. Amundi has moved quickly in agreeing [...]
Sky seeks to calm shareholder concerns over Fox bid as board independence comes under fire December 11, 2016 Broadcasting giant Sky is vying to convince investors that 21st Century Fox’s £10.75 per share takeover bid is not undervaluing the company. Sky revealed last Friday it had reached an agreement with Fox that values the business at £18.5bn – but some shareholders criticised the approach over the weekend. One big name City shareholder told City [...]
Political opposition to Murdoch takeover of Sky mounts December 10, 2016 Former Labour leader Ed Miliband, former business secretary Vince Cable and influential campaign group Hacked Off have all voiced their opposition to the possibility of a 21st Century Fox takeover of Sky. Although media analysts appear to believe the deal is unlikely to be blocked by regulators, the news has attracted a number of objections in the [...]
21st Century Fox takeover of Sky unlikely to be blocked by regulators, say media analysts December 10, 2016 Media analysts do not believe regulators would block a takeover of Sky by Rupert Murdoch’s 21st Century Fox. Fox said last night it had reached an agreement in principle to acquire the 61 per cent of Sky it does not already own for £10.75 per share. This would value Sky at £18.5bn. Murdoch’s News Corporation [...]
21st Century Fox in talks to buy Sky, valuing UK firm at £18.5bn December 9, 2016 Sky’s share price leapt by more than 30 per cent on Friday afternoon after the company said it was in talks to be taken over by Rupert Murdoch's 21st Century Fox. The directors of both companies have reached an agreement at £10.75 per share in cash – putting an overall value of Sky at £18.5bn. Fox [...]