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.
Tucked away in the back of yesterday's Mail on Sunday's business section was a rather interesting nugget from Alex Lawson, a senior City hack on the paper.
Lawson's Stockwatch column reports Menzies Distribution could be about to pursue more acquistions after hiring Andy Clarke, the former Asda chief executive as chairman of the business...
Omers, the Canadian investment giant, is said to have picked banks to carry out a bumper $2.5 billion flotation of ERM Group, the sustainability consultancy.
Last Autumn Bloomberg reported Omers Private Equity was weighing "strategic options" for ERM Group Inc, including a potential sale that could value the sustainability consultancy at as much as US$2.5 billion...
There could be a dust up brewing between Groupe BPCE and investors in French bank Natixis.
According to Betaville's moles, some of the long only investors that have owned Natixis stock for quite some time are rather peeved at the price Groupe BPCE is paying to buy out the 29.3pc owned by public market investors...
Rivals are Bloomberg are claiming Carlyle is giving up on buying Signature Aviation after its subsidiary, Standard Aero, bought the London-listed company's engine, repair and overhaul unit for $230 million. Below is the link to Bloomie story:..
After last week's excitement it might have passed you by that Dbay, the activist investor led by Colin Kingsnorth, has now accumulated just over 26pc of Telit Communications, the Aim-listed 'internet of things' provider.
Below is the link to the announcement:..
Quelle surprise: the Takeover Panel has just announced an auction as a solution to solve the G4S bid battle stalement was on the money.
Below is a link to the announcement of the auction and also my previous article:
Easyjet, the London-listed budget airline company, is at the centre of speculation it is set to launch another equity fundraising.
People following the situation have heard rumours easyJet is actively working with its advisers on a potential fundraising via a placing or rights issue.
However, it's not clear how much easyJet is looking to raise from investors. One person following the situation suggested easyJet could look to tap shareholders for up to £500 million...
Dealmaking seems to have gone into overdrive, with Microsoft making a $50 billion takeover approach for Pinterest, online-pinboard platform.
Well, that's according to rivals at the Financial Times. Below is a link to their execellent scoop:
https://www.ft.com/content/f88b8474-e791-4efb-a9f6-54c8222680fe..
It would appear analysts at Morgan Stanley were bang on the money with their prediction that Upper Crust owner SSP would have to carry out a second equity issue.
Indeed, Alice Hancock and Gill Plimmer of the Financial Times have just dug out a rather good scoop suggesting SSP is looking to raise £500 million by way of a rights issue. That is more than double than what the company raised last year on the equity market. Below is a link to their piece:..
So, Bloomberg's overnight "scoop" about Groupe BPCE weighing a bid for the remainder of Natixis it doesn't own smoked out today's confirmation about a Euro 4 a share tender offer. Below is a link to the Bloomie tale:
Mark, "the Kleinmanator", Kleinman of Sky News picked up a decent scoop overnight about London-listed share registrar Equiniti receiving a 170p a share takeover offer from US-based private equity firm Siris Capital. Below is the link:
https://news.sky.com/story/equiniti-draws-600m-takeover-interest-from-us-buyout-firm-siris-12212757..
There weren't too many deal stories in today's British Sunday newspapers as it's clear there are many more imporant things to worry about.
But Oliver Gill, a hotshot young business hack on The Sunday Telegraph, had a similar line to Betaville about the G4S bid battle heading towards a Takeover Panel-led auction. Below are the links to those tales:..
Dbay Advisors, the activist investor, has increased its shareholding in Aim-listed 'internet of things' designer Telit Communications to 25.79pc. Below is a link to yesterday's announcement:
Perhaps I won't need the popcorn after all: this morning Blackstone and Bill Gates's firm Cascade announced it had teamed with Global Infrastructure Partners to mount a joint £3.4 billion offer for Signature Aviation at 411p a share. Below is the link:..
Speculation is mounting that Pernod Ricard, the France-listed drinks giant, is the European company circling Treasury Wine Estates.
People following the situation have heard rumours Pernod Ricard is working with advisers from Morgan Stanley on a potential acquisition of the Australia-listed wine distributor.
A large private equity firm is also said be interested in Treasury Wine Estates, said people following the situation...
Betaville was casting around for stories today and stumbled around a curious line around the three-way battle for Signature Aviation, the London-listed private jet operator.
It would appear, according to publicly available financing documents, that Global Infrastructure Partners, one of the firms interested in buying Signature Aviation, is offering to finance its bid in, er, equity. Yes, you heard that right - equity to the tune of $4.6 billion...
[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].