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.
Alistair Osborne's business comment column in The Times today is well worth read. Osborne is an acerbic writer and professional wind up merchant who I used to work with at The Daily Telegraph. His comment on Rocket Internet's IPO is particularly amusing. Here is a link to it:
http://www.thetimes.co.uk/tto/business/columnists/alistairosborne/article4217149.ece..
It's a bit late in the day but just a quick note to congratulate Bryce Elder, the stock market reporter over at the Financial Times, on yesterday's scoop about Greene King's £700m takeover approach for rival Spirit. Here is a link to Bryce's piece: http://www.ft.com/cms/s/0/cb3478c6-4338-11e4-be3f-00144feabdc0.html#axzz3EAr0HkhD..
I realise most of the dealmaking community is currently focused on the risk that some large pharmaceutical deals may collapse. But I have stumbled across a potential pharmaceutical deal that is unlikely to be affected by the US government's attempt to clamp down on corporate "tax inversions"...
Gary Parkinson has written another cracking 'Trade Secrets' column in The Times this morning and here is a link to it: http://www.thetimes.co.uk/tto/business/columnists/tradesecrets/article4213584.ece..
It looks like that rather large block trade in Perform shares from earlier in the week was nothing more than an institutional seller exiting to a bunch of risk arbitrageurs (hedge funds that bet on takeover bids).
In case you forgot, here is a link to the piece I did earlier in the week:
http://betaville123.blogspot.co.il/2014/09/performing.html..
Well, it looks like my foray into reporting on US cloud computing deals has ended with a bit of whimper...
A rather large line of Perform stock - over 40 million shares - changed hands in almost one go at the close of the London market this evening. Investec is thought to have done a lot of the business (lucky them)...
Here's an interesting snippet about a fairly chunky US technology deal. I hear from excellent sources CenturyLink, a landline phone service provider, has tapped up some US banks for a $6 billion financing package so that it can purchase cloud-computing services company Rackspace Hosting...
Most of today's Sunday newspaper business sections are focused on financial implications and risks of Scotland breaking away from the Union...
Bryce Elder, the stock market reporter over at the Financial Times, has this morning touched upon quite an interesting theory whistling around the London market...
It's a bit quiet in the world of public company M&A in the London market so I thought I would write a quick post on the auctioneer Bonhams following my piece in the Mail on Sunday last month...
But don't get too excited - it's not with a view to buying Severn Trent for £5 billion. Well, not at the moment, at least...
The lads over at Tip TV invited me back on today to congratulate me on some of my InterMune stories.
In case you are interested, here is a link to today's clip: http://www.tiptv.co.uk/archives/mergers-acquisitions-with-ben-harrington-05-09-2014/..
Here's an interesting snippet on the CSR takeover situation. I understand CSR has brought on board Goldman Sachs as a financial adviser alongside bankers from JP Morgan Cazenove...
Apologies for the blatant self promotion and backslapping but I thought I would take this moment to point out that index compiler FTSE yesterday confirmed that Dixons Carphone will be promoted to the FTSE 100 index as part of the next quarterly reshuffle...
If you are based in the UK and into deals, there are couple of interesting jackanories floating around the inter web this afternoon...
Andrew Clark's comment piece in The Times on Blavatnik's attempt to buy Perform for £700m is probably the most incisive piece of comment I have read on this peculiar takeover deal.
If your following the situation, Andrew's piece is worth a read. Here is a link to Andrew's article:
http://www.thetimes.co.uk/tto/business/columnists/article4193713.ece..
In journalism hacks can claim to have discovered a new trend if they find three similar case studies. So, this piece may be a bit premature but I thought it would be worthwhile pointing out nonetheless...
Maybe I spoke (or wrote) too soon!
Microchip Technology has released a statement on the Regulatory News Service this morning although its dated from yesterday.
Here is a link to the Microchip statement: http://www.investegate.co.uk/microchip-technology/rns/mchp-confirms-preliminary-discussions-with-csr-plc/201408290700073020Q/..
Huge hat tip to Ed Hammond and Arash Massoudi the M&A reporters over at the Financial Times for their scoop on CSR this morning. It's not easy landing these types of jackanories during August when most of the dealmaking community is away sunning themselves in the Med...
[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].