A cheeky website about deals, dealmakers and anything else I find interesting. Edited by Ben Harrington. If you have a tip or want to discuss a story please feel free to email Betaville at email@example.com.
Ping! An email arrives from a friendly market observer who has picked on the fact that Simon Rowlands, a senior advisor to private equity firm Cinven, has been buying shares in takeover target Spire Healthcare. I have pasted the link to today's RNS announcement below, which shows Rowlands paid around 218p a share for 114,000 shares:..
I see the Colombia Threadneedle has finally decided to make a decision to back GKN (I have pasted the link below to the excellent article in today's The Times).
Ben Marlow went big in yesterday's The Sunday Telegraph about the prospects of a bid battle for Nex Group, tipping owner the of the New York Stock Exchange (also know as the Intercontinental Exchange or ICE) as the most likely counterbidder for the company founded by Michael Spencer. In case you missed it, I have pasted link below to yesterday's splash story in the business section:..
Betaville has won its first award.
This week ADVFN, another financial website, named yours truly as financial blogger of the year. The news came as a bit of shock to Betaville as there had been no indication ADVFN was even considering Betaville for an award. In fact, Betaville has never even met anyone from ADVFN...
So, it would appear Sebastian Shakespeare of the Daily Mail was quicker off the mark than Betaville readers.
The gossip columnist figured out pretty quickly which retail tycoon is the focus of the new page turner and led his top diary column with the story in the newspaper today. I have pasted a link below:..
Which retail tycoon is set to be the main focus of a ground breaking new book that begins with the title - "Damaged goods: the inside story of..."?
If you think you know, get in touch via the usual channels, such as firstname.lastname@example.org.
p.s. If you need a clue, sources say some of the characters include Neville Kahn, the well known Deloitte administrator, and Everton and Tottenham Hotspur Football Clubs...
David Cumming, head of equities for Aviva, today stated he is supporting Melrose's fresh £8.1 billion offer for GKN.
The question is whether other big GKN shareholders - such as Colombia Threadneedle or Standard Life Aberdeen - will publicly back the turnaround investor's bid for GKN?
I see Bloomberg has attempted to aggregate Betaville's paywall protected Betaville Intelligence article from earlier in the week on Charter Communications by attempting to second guess what the actual piece says without actually knowing what it says.
As Betaville has pointed out before, this is a dangerous game to play.....
It was good to see former colleague Graham "Ruddy" Ruddick land a cracker jack story on the front page of the main book of today's The Times.
Graham, who Betaville worked with at The Daily Telegraph, effectively broke the story about the unfortunate goings on at the Institute of Directors (although Betaville is sure the Kleinmanator will claim it). I have pasted a link Graham and Alex Ralph's story below:..
The reason Betaville posits the question is reliable sources suggested the fund manager, one of the larger GKN shareholders, may be willing to support Melrose if it bumps its hostile offer a tad.
However, when Betaville put this to a spokesperson for Colombia Threadneedle last week the official response from investment firm was:
“We have not made a decision yet.”
If your still intrigued by the collapse of Beaufort Securities then no look no further than today's business section in The Times.
Former Telegraph colleagues Harry "the Hurricane" Wilson and "Acerbic" Alistair Osborne are doing some cracking work following last week's news about the FBI investigation and the FCA's move to put the company into administration.
I have pasted links to their pieces in today's business section below:..
The demise of Beaufort Securities gripped the City last week. But regular readers of this website would have known that something wasn't quite right at the firm after it emerged the FCA had slapped a restriction on the broker's discretionary fund management business. Here is a link to last year's article:
Here is a little deal "exclusive" for readers interested in mid-market private equity deals.
Betaville understands that Inflexion, a London-based private equity firm, is in advanced talks to purchase a stake in Huws Gray, the Welsh builders' merchant based on the Isle of Anglesey.
Huws Gray hired HSBC last year to run a "strategic review" of the business, which generates almost £180 million in turnover...
Does anybody else think it odd that Mike Turner went on holiday to the Caribbean in January after the opening scuffle in the GKN/Melrose bid battle?
Betaville realises that everybody is entitled to a holiday. However, according to reliable senior banking sources who aren't advising on this takeover battle (as far as Betaville is aware) Turner, chairman of GKN, headed off to the Sandy Lane Hotel in Barbados after Melrose made its approach in early January...
Sky News: Polgyon pushes for £13.00 a share; Daily Mail/CBNC say Comcast is preparing a counter for Sky - part 3
So, the London market is buzzing as Comcast has made a £22 billion counterbid for Sky pitched at £12.50 a share.
Hat tip to the CNBC and Matt Oliver of the Daily Mail who both broke the story of a potential counterbid from Comcast for Sky back in early December last year. I have pasted a link to the Daily Mail's story below:..
This morning's business comment column by the excellent Katherine Griffiths, a former colleague from our days at The Daily Telegraph, caught Betaville's eye.
That's because top bankers suggested to Betaville last week that the London Stock Exchange - whose chairman has been having a bruising row with TCI's Sir Christopher Hohn, the exchange's biggest shareholder - may soon announce the appointment of a new chief executive, possibly as soon as this week...
[Disclaimer - the information on Betaville does not consitute any form of investment recommendation and is not intended to be relied upon by readers in making, or refraining from, any investment decisions].