Today's deals include CoStar Group's £99 million purchase of London-listed property website OnTheMarket.
The Nasdaq-listed company is paying 110p a share for OnTheMarket, which is at a premium of 56pc. Below is the link to the press release:
https://www.londonstockexchange.com/news-article/market-news/offer-for-onthemarket-plc/16173247..
Back in the aftermath of the 2020 stockmarket crash little old Betaville broke the story of an impending row between property entrepreneur Robert Tchenguiz and a group of well known stockbroking firms, such as FTSE 250-listed IG.
The likes of IG, CMC Markets and Intertrader - which was owned by Ladbrokes owner Entain - had sold out Tchenguiz's 7pc shareholding in FirstGroup during the rout of March 2020 after he allegedly failed to meet margin calls...
Splashed across the front page of The Sunday Times business section is a tale about ailing online food delivery firm Just Eat Takeaway.com, a company loyal Betaville readers know this website has been following closely...
Another week, another confirmation for little old Betaville.
This time FTSE 250-listed transport company FirstGroup said it has received a £1.2 billion takeover bid from infrastructure fund I Squared, thereby confirming yesterday's UNCOOKED ALERT. Below are the links:..
Speculation is mounting FirstGroup, the London-listed transport company, has attracted takeover interest.
People following the situation have heard rumours a mystery party is circling FirstGroup with a view to purchasing the business.
However, the indentity of the company interested in FirstGroup remains unclear, said these people following the situation...
Oliver Gill, the hotshot business hack on The Sunday Telegraph, dug out an interesting line on the weekend about Go-Ahead, the beleguered train operator.
Gill's piece claims Go-Ahead might become a takeover target for FirstGroup after its shares collapsed following news it had hidden £25 million of excess profits from the Treasury. Below is a link to Gill's piece:..
Often when an activist, such as Elliott Advisors, gets involved in a listed company in the US or Europe it agitates for a sale of the business to generate an immediate uplift in shareholder value...
It's deal mania in Britain at the moment, so it's a perfect time for analysts to speculate about more deals, especially as FirstGroup recently agreed a sale of First Student and First Transit to Nordic private equity firm EQT for $4.6 billion...
So, the Tchenguiz / FirstGroup saga rumbles on although probably not in a way the flamboyant property entrepreneur orginally envisaged.
Below is a link to a piece I wrote for the Mail on Sunday this weekend about how several top brokers - such as IG, GVC's Intertrader and CMC Markets, are chasing down Robbie T for the millions they think he owes them after he was carted out of the stock during the March sell off...
It sounds like there is more to the sale of Robert Tchenguiz's 6pc shareholding in FirstGroup than meets the eye.
Last week, brokers to the flamboyant property entrepreneur forced him to sell is investment after he failed to come up with the "margin" (cash to fund the leveraged position held by spreadbetting firms), say people following the situation...