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.
The Telit Communications takeover saga is poised to draw to a close this week thanks to the hedge funds that recently bought up almost 8pc of the 'internet of things' company...
Loyal readers of little old Betaville won't be too surprised to read this morning that Ultra Electronics is in talks to be bought by Advent International-backed Cobham for over £2 billion.
That's because this website consistently highlighted the prospect of a deal through a series of UNCOOKED Alerts published over the last few weeks before the release of any announcements of news reports. Below are the links in case you have forgotten:..
One of Telit Communications largest shareholders plans to vote against Dbay's revised £320 million offer for the company.
This week Dbay increased its offer for Telit to 229.5p a share after delaying last week's shareholder vote when it became clear the private equity fund wouldn't have enough support to approve the scheme of arrangement to take the company private at the previously recommended 220p a share...
Betaville notes activist private equity firm Dbay Advisers has just increased its offer for Aim-listed "internet of things company" Telit Communications by another £20 million.
Dbay is now offering 229.5p a share for Telit and also made it "final". The move comes after it became clear investors weren't going to back the last scheme of arrangement vote. Below is the link to the deal announcement:..
Stockmarkets took a big dive this morning but the takeover deals just keep on coming.
The latest in the London-market is a 513p a share or £900 million takeover of Sumo Digital, the video games developer, by Tencent, the Chinese technology behemoth. Below is a link to this morning's announcement:..
I see GCP Student Living has finally a recommended a £1 billion takeover offer from Scape Living and iQSA. Below is a link to the announcement.
It took a while but scribblers at some of the City of London's top brokers have finally figured out there is a merger & acquisition boom taking place in Britain.
So now every stock market broker is punting a list of takeover tips, with the chaps and chapettes at Canaccord Genuity the latest bunch to draw up a list of bid targets...
Rivals at the venerable Wall Street Journal have just popped up with a jumbo takeover scoop - and this time it involves a trade buyer launching a bid rather than a private equity firm.
According to the WSJ, NortonLifeLock Inc is in talks to buy London-listed Avast, which makes free and premium security software. Below is the link to the WSJ takeover tale:..
The shareholder meetings to approve Dbay's 220p a share offer for Telit Communications have been delayed. Why isn't that a surprise! Below is the link to this morning's press release:
TDR Capital is said to be the private equity firm that has been circling Redde Northgate, the London-listed vehicle management company.
People following the situation said that TDR Capital is rumoured to have approached Redde Northgate about buying the business for 475p a share.
However, it's believed the approach may have been rebuffed because the company and some of the group's shareholders won't accept less than 500p a share...
Redde Northgate, London-listed the vehicle rental and accident management company, is at the centre of intense takeover speculation.
People following the situation said Redde Northgate has received an approach for the whole company.
The approach is said to have come from a private equity firm, said people following the situation...
It turns out old Richard, the "Welsh Wizard", Griffiths now has 9.55pc of Telit Communications and plans to vote for the 220p a share offer from Dbay Advisors this week.
Well, that's according to a statement released by Dbay at lunchtime today. Below is the link:..
One of the largest shareholders in Telit Communications is preparing to vote against Dbay's £300 million takeover offer for the Aim-listed 'internet of things' provider.
Betaville understands Oozi Cats, the founder of Telit who still owns around 12pc of the company, isn't going to vote for the sheme of arrangement at next week's shareholder meeting...
This morning Dbay Advisers, the activist private equity firm trying to buy Telit Communications, said that Compass Asset Management is no longer supporting its 220p a share offer for the Aim-listed 'internet of things' company.
Dbay added that Compass - a little known fund manager based in Lugano, Switzerland - said it now plans to abstain in voting for the scheme of arrangement next week. Below is the link to the statement:..
Dealmaking continues despite skittish stock markets, with Philip Morris International coming over the top for London-listed inhaler group Vectura.
Philip Morris is paying 150p a share for Vectura - that's 14p a share more than what Carlyle offered for the £1 billion company. Below is the link to this morning's announcement...
Smiths Group, the London-listed engineering conglomerate, is said to have appointed a heavyweight investment bank on the possible sale of its medical division to private equity firm TA Associates.
People following the situation said Smiths Group is working with advisers from Goldman Sachs on the disposal of the medical unit.
Talks between Smiths Group and TA Associates have been rekindled but a deal is by no means a certainty, said people following the situation...
I see my former boss and colleague Alistair "Acerbic" Osborne is today in The Times talking up the prospects of a potential takeover bid for J Sainsbury following the private equity bid battle for rival WM Morrison...
[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].