Betaville was having a rather good weekend until I came across a story in yesterday's business section of The Sunday Times...
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. Betaville can also be reached at Whats App, Signal or Telegram. Betaville's Twitter handle is @bharringtonw11 and you can message me via Twitter with stories.
A fresh row is brewing at controversial mining company Pathfinder Minerals after the ex-husband of "City superwoman" Nicola Horlick launched a multi-million pound legal claim that the company has failed to disclose...
Hat tip to the young dynamic duo at the Evening Standard for landing a rather good scoop about Pret a Manger buying rival Eat.
Indeed, it was Mark Shapland and Laura Onita from the Evening Standard's business section broke the news about Pret's plans to turn Eat locations into vegetarian-only sandwich shops and here is a link to their tale:..
It would appear FTSE 250-listed Babcock International hasn't managed to scare off mysterious research house Boatman Capital.
The anonymous scribbler has just realsed a fresh negative note on Babcock International, arguing the company has to write down Defence Support Group (DSG) subsidiary, which was acquired for £148 million. Below is a link to the Boatman Capital wesbite:
UNCOOKED ALERT: Iofina said to be working on multi-million pound equity fundraising - sources - Part 2
Another day, another confirmation for little old Betaville.
This time Iofina confirmed Betaville's scoopette from yesterday about the business plotting a discounted equity fundraising. Below is a link to the confirmation:
Iofina, the Iodine and natural gas exploration company, is said to be working an equity fundraising.
People claiming to be familiar with the matter said Iofina is working on placing and the deal could be "imminent".
One person claimed new shares in Iofina, which today saw its stock jump almost 30pc to 32p, could be issued to investors at around 22p a share.
However, it's not clear how much capital Iodina is looking to raise...
Oh look - I see yesterday's scoop about SoftBank Vision Fund investing in Greensill has now been officially confirmed. Below is a link to the confirmation on PR Newswire:
I think this might be a first: a review of the Sunday paper business sections on a Saturday night.
Well, first off I hope you don't mind if I blow my own trumpet about a rather good tale I'm breaking tomorrow in the Mail on Sunday's business section...
So, that was close: just 78.9pc of Inmarsat shareholders voted to approve the Scheme of Arrangement at today's court meeting.
The private equity consortium led by Apax and Warburg Pincus needed 75pc of Inmarsat shareholders to approve the Scheme and allow the $3.3 billion takeover to complete...
When I'm in the office I often pick up Financial News, a trade rag that many years ago gave little old Betaville one of his first jobs in financial journalism.
So, when I turned to page 3 of the paper I was intrigued to read an editorial by David Wighton, former business editor of The Times, vehemently arguing that companies should jettison ALL corporate jets as they are an "incendiary issue and red rag for customers and employees"...
Betaville's friends at The Insurance Insider have dug out a rather good tale about insurance broker Astron Lark, a company this website has written about over the last few months.
Indeed, below is a link to Betaville's orignal scoop:
Hat tip to John "The Ridge" Collingridge, deputy City editor of The Sunday Times, for landing a cracking tale in today's The Sunday Times about Labour's plans to take private/renationalise the country's water companies at a discount.
I can't imagine investors in London's listed water companies (United Utlities, Pennon Group and Severn Trent) are too happy about that! Below is a link to John's scoop:..
Betaville has been inundated with phone calls since the venerable Financial Times ran its interview with the Sage of Omaha, in which the octogenarian billionaire investor suggested he is looking at doing a big UK deal. Below is a link to the interview:
"What's he going to buy,?" asked one veteran investor...
Betaville suspects some of his surveyor chums will be somewhat peeved one their favourite watering holes - The Audley in the heart of Mayfair, London - has just been closed down.
The pub was a bit of an oddity given it was one of the last bastions of an "old man's" style pub slap bang in the middle one of the most desireable spots of Mayfair, the upmarket district of London favoured by hedgies, dealmakers and entrepreneurs...
Angus Energy, the oil explorer run by the son of Lord Lucan, is working on a plan to raise up to £5 million from equity investors.
People claiming to be familiar with the matter said Angus Energy is looking to raise between £3.5 million and £5 million from investors via a Placing and an Open Offer.
It's believed the new shares will be issued at between 4.5p and 5p, said people claiming to be familiar with the matter...
Mark Kleinman's piece about the private equity firms that looked and then ditched a counterbid for London-listed Inmarsat caught Betaville's eye today.
Loyal readers might be wondering why given the central premise of the story is that, er, nothing is happening.
Well, for a start pieces about old deals that never got off the ground can show future intentions, so for M&A watchers these stories can provide vital clues for the mosaic theory...
Business hacks coined the phrase merger Monday during the M&A boom times of the late noughties when several mutli-billion takeover deals would get announced simultaneously on a Monday morning.
These days, though, there are less deals around and today two mega deals completely unravelled: J Sainsbury's £15 billion merger with Wal-Mart's Asda and Deutsche Bank's combination with Commerzbank...
[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].