Sunday newspaper round-up: Taylor Wimpey, BT Group, Boots
Elliott Management has been building a stake in Taylor Wimpey, leading to speculation that a bid, possibly from a US-based suitor, might materialise for the construction company. In April, Elliott backed Berkeley DeVeer's takeover of Avant Homes and in November it took out short positions on shares of Bellway and Barratt. The size of the activist investor's stake was unknown. - Financial Mail on Sunday
Amazon.Com Inc.
$211.48
13:04 14/11/24
BT Group
140.00p
16:40 14/11/24
Fixed Line Telecommunications
1,979.89
16:38 14/11/24
Food & Drug Retailers
4,357.06
16:38 14/11/24
FTSE 100
8,071.19
16:49 14/11/24
FTSE 350
4,459.02
16:38 14/11/24
FTSE All-Share
4,417.25
16:54 14/11/24
Household Goods & Home Construction
11,411.74
16:38 14/11/24
Morrison (Wm) Supermarkets
286.40p
16:55 26/10/21
Nasdaq 100
20,896.67
12:15 14/11/24
Pfizer Inc.
$26.02
11:10 14/11/24
Sainsbury (J)
239.60p
16:45 14/11/24
Taylor Wimpey
131.95p
16:35 14/11/24
Tesco
341.90p
17:00 14/11/24
US media outfit Discovery is trying to gatecrash BT's sale of its sports broadcasting unit. BT has been in talks with Dazn, the streaming challenger bankrolled by billionaire Sir Leonard Blavatnik, for months. More recently however, those negotiations had become bogged down in wrangling over commercial details. Eyeing an opportunity, Discovery had tabled an alternative proposal that City sources said was being seriously considered. BT figures were said to be keen on reaching a decision before Christmas. - Sunday Telegraph
Boots may be targeted by Britain's biggest retailers after bankers were brought in to speak to potential suitors. The sale process, which is being managed by Goldman Sachs, could value the chain at ÂŁ5bn. According to sources, Tesco, Sainsbury's, Asda, Morrisons and Amazon may be interested in the chain's 2,220 pharmacies. Private equity outfits Apollo and Fortress will likely also take a look. - Financial Mail on Sunday
Spain's Banco Sabadell will put TSB back on the auction block in 2022 after closing branches and slashing costs. The sale process for the lender, which was bought by Sabadell in 2015 for ÂŁ1.7bn, is expected to take place in the first half of next year. Having offered ÂŁ1.0bn in October, Co-op Bank was understood to still be interested, although discussions were not underway. - Financial Mail on Sunday
Private equity giant CVC is understood to be plotting a listing on the London Stock Exchange that could see it fetch a valuation in excess of ÂŁ11bn. The firm behind Six Nations rugby and RAC roadside rescue was said to be planning the flotation with Goldman Sachs, amid a global boom for the sector, thanks to low interest rates. Rival Permira was also rumoured to be looking at its own options. However, a source close to CVC insisted that no final decision had yet been made. - Sunday Times
A former Obama administration health official has accused US drug giant Pfizer of "war profiteering" during the pandemic. Tom Frieden, who was a director of the US Centers for Disease Control and Prevention, said in a Channel 4 Dispatches investigation that "If you’re just focusing on maximising your profits and you’re a vaccine manufacturer … you are war profiteering." His remarks come after the UK government signed a secrecy clause with Pfizer as a part of its Covid vaccine supply contracts. - Guardian