M&A
London close: FTSE lower as UK, US growth in Q1 disappoints, sterling up
Stocks in London drifted to a lower close on Friday as a rise in sterling weighed on blue chips and both UK and US preliminary economic growth data disappointed investors on both sides of the Atlantic.
Takeover bid from Japan Tobacco on Imperial Tobacco extremely unlikely, Citi says
A takeover bid for Imperial Tobbaco from its Japanese rival, Japan Tobacco was unlikely, analysts at Citi said.
RBS, HSBC Saudi units studying possible merger
HSBC and RBS´s partially-owned Saudi units were exploring a potential merger which would result in the creation of the Kingdom's third-largest lender.
Elliott Capital Advisors discloses 6.8% stake in WS Atkins
Activist hedge fund Elliott Capital Advisors has taken a 6. 8% stake in rail, telecoms and defence engineer WS Atkins.
PPG Industries sweetens offer for AkzoNobel
Dulux owner AkzoNobel confirmed on Monday that it has received a third unsolicited and conditional takeover proposal from US chemicals manufacturer PPG Industries.
LafargeHolcim CEO to step down after Syria probe
The world's largest cement maker is looking for a new CEO after current LafargeHolcim boss Eric Olsen announced he was resigning in the wake of an investigation into the company’s operations in war-torn Syria.
Electra receives £67m from RISI sale
Private equity firm Electra said it had received £67m from AXIO Group in relation to the sale of information provider RISI.
Someone's had enough of their Weetabix - Chinese food group sells up
Cereal brand Weetabix is set to be sold by China's Bright Food Group to US consumer company Post Holdings, as the breakfast product failed to fuel enough interest in the Chinese market.
Greece completes privatisation of 14 regional airports in €1.2bn deal
Greece has completed the €1. 2bn sale of 14 regional airports to Germany's Fraport as part of its international financial bailout, the country's privatisation agency said.
Credit Suisse sees more M&A ahead at Intertek, lifts target
Constrained organic growth from the ongoing malaise in the Resources sector meant the current 'risk and reward' relationship in Intertek shares was "unattractive", Credit Suisse said, although looking further out more acquisitions would help remedy that.
Siemens shares spike on reports of Bombardier merger
German industrial giant Siemens chugged higher on Tuesday after reports that it has entered negotiations with Bombardier to merge the two companies’ train operations.
Loews to buy Atlanta-based Consolidated Container Company for $1.2bn
Loews Corporation has agreed to buy Atlanta-based rigid plastic packaging manufacturer Consolidated Container Company from Bain Capital Private Equity for around $1. 2bn.
RetailMeNot rockets on Harland Clarke deal
Shares in RetailMeNot rocketed in pre-market trade after the coupons website said late on Monday that it has agreed to be bought by payments solutions and marketing services company Harland Clarke Holdings for $11. 60 per share in cash.
Foxconn weighing up $27bn bid for Toshiba chip business
Toshiba’s chipmaking operations will be the subject of a $27bn bid from Taiwanese company Foxconn, according to reports on Monday.
AT&T to acquire Straight Path in all-share deal
AT&T said it would acquire Straight Path Communications in a $1. 6bn all-share deal.
Stada surges as it backs Cinven, Bain Capital offer
Shares in Stada Arzneimittel surged on Monday after the German drug maker backed an offer from Bain Capital and Cinven at €66 a share, valuing the group at around €5. 32bn.
Redefine to take control of German venture for €49m
Property investment trust Redefine said it had reached a conditional agreement to take control of the German Leopard Portfolio joint venture, in which it holds an existing 50%, for €49m.
Chesnara completes buy of L&G Nederland Levensverzekering Maatschappij
Chesnara said its acquisition of Legal & General Nederland Levensverzekering Maatschappij N. V. had completed.
PPG Industries reiterates takeover talks invitation to AkzoNobel
PPG Industries has reiterated its interest in entering into discussions with Dulux maker AkzoNobel to form a combined company.
BATS gets Japanese clearance for Reynolds deal
British American Tobacco has received unconditional antitrust approval from Japanese authorities for its proposed acquisition of Reynolds American.