A cheeky website about deals, dealmakers and anything else I find interesting. Edited by Ben Harrington. If you have a tip, want to discuss a story or have a subscription enquiry please feel free to email Betaville at [email protected]. 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.
Franklin Mutual Advisers has clearly got fed up with the lack of action at London-listed chemicals company Elementis.
The investor, which owns almost 10pc of Elementis, has just come out publicly requesting the company carries out a sale process. Below is a link to the full letter from Franklin Mutual, which is part of US investment giant Franklin Templeton:..
Remember DBay?
Well in case you don't, it was the secretive Isle of Man-based private equity firm that was involved in a year-long tussle to buy Telit Communications, the London-listed 'internet of things' chip maker. (see multiple previous Betaville Intelligence articles for a gentle reminder).
Now, DBay has finally pounced on the Finsbury Food Group, the cake maker, following a period of stakebuilding...
I see Alex Brummer, veteran City hack and business commentator at the Daily Mail, is also jumping onto the BP could be vulnerable to a bid thesis.
And Brummer adds a line into his column about how leaderless BP might now be of interest to Warren Buffett's Berkshire Hathaway vehicle. Below is a link to Brummer's column:..
There weren't too many deal stories in the British Sunday newspaper sections this weekend but there was one piece that caught little old Betaville's eye in the Saturday business section of The Times.
Emma Powell, who writes the Tempus column in the The Times, suggested BP, which last week saw its chief executive Bernard Looney step down amid allegations, could now be vulnerable to a takeover bid. Below is a link to her piece:..
Scribblers at Quest aren't satisfied with talking up the prospects of dealmaking in the UK market.
Now Graham Simpson, an analyst at Quest, is casting his eye over Europe, suggesting there could be a flurry of takeovers of undervalued European businesses...
Little old Betaville spotted Baron Hammond of Runnymede on the Victoria Line (a well-known metro line in the London subway system) platform this afternoon.
The Baron - also known as Philip Hammond, the former Chancellor of the Exchequer of the United Kingdom - jumped on the tube carriage alongside little old Betaville at Oxford Circus around 15:00...
A decent tale from arch rivals Bloomberg has just hit the tape.
Bloomie is reporting activist investor Sachem Head Capital Management has been building a stake in Deliveroo, the London-listed online food delivery firm set up by former Morgan Stanley banker Will Shu...
So, packaging giants WestRock and Smurfit Kappa have announced the formal terms of their $20 billion deal. Below is a link to the press release:
I see DX Group has just now confirmed little old Betaville's UNCOOKED Alert about a private equity takeover bid for the London-listed courier and logistics business.
Below is a link to the announcement in case you missed it:
https://www.londonstockexchange.com/news-article/DX./possible-offer/16119339..
It's been a while since the German media published a twist on the Covestro takeover talks with the Abu Dhabi National Oil Company.
But arch rivals at Bloomberg have just come up with the latest line about the supervisory board conveening to debate whether to allow the German business should entertain formal talks with ADNOC. Below is a link to the Bloomie tale:..
Rivals at The Wall Street Journal did well to get the Smurfit Kappa / Westrock merger scoop overnight but a loyal reader has got in touch this morning to remind little old Betaville that it was in fact that this website that first broke the WestRock takeover rumours back in September 2020 in a series of UNCOOKED Alerts.
In case you don't recall I have pasted the links to those stories below:..
Hacks at the Wall Street Journal have dug out the first big post summer deal scoop.
The WSJ revealed overnight that Smurfit Kappa, which is one of Europe's largest packaging companies and listed on the FTSE 100 index, is in talks to merge with US rival WestRock to create a $20 billion paper and packaging giant...
It's taken almost two years for rivals at Reuters to follow up little old Betaville's UNCOOKED Alerts about US-listed Alteryx Inc but the global news agency got there in the end.
Just now Reuters reported that the data analytics software firm is working with advisory firm Qatalyst Partners after receiving takeover interest, possibly from private equity firms. Below is a link to the Reuters piece:..
I see old Mark "The Kleinmanator" Kleinman of Sky News, a former collegue during our time on The Daily Telegraph's city desk, dug out a scoop earlier this week about Butternut Box, Europe's largest posh dog food maker.
Below is a link to Kleiny's "scoop" about an investment in Butternut Box from General Atlantic that valued the business at around £500 million:..
Scribblers over at Canaccord Genuity's Quest unit have been quick to leap onto today's news about Permira's £703 million takeover of Ergomed to declare a potential "trend" in takeovers of UK-listed cheap AIM (Alternative Investment Market) stocks. ..
The European summer holidays are over, so finally dealmaking activity has returned to the London market.
This morning Permira, a UK-based private equity firm, has announced the £703 million takeover of London-listed Ergomed, which sells specialised services to the pharmaceutical industries.
Permira has offered £13.50 in cash for Ergomed, which is about a 30 premium to Friday's closing price. Below is a link to this morning's announcement:..
There has been more double stakebuilding from maverick retail billionaire Mike Ashley.
Today Frasers Group - which Ashley founded and controls - announced it had increased its stake in ASOS, the London-listed online fashion retailer, to 19.8pc from 19.3pc. Below is a link to today's announcement:
So, today the British retail tycoon Mike Ashley showed that he has increased his stake in another London-listed online fashion retailer - Boohoo.
Or rather Frasers Group - the retail giant Ashley has built over the last twenty years and still controls - now owns 9.1pc of Boohoo. Below is a link to today's announcement:..
[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].