A cheeky website about deals, dealmakers and anything else I find interesting. Edited by Ben Harrington. If you have a tip or want to discuss a story please feel free to email Betaville at email@example.com. 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.
Another day, another US shale deal.
This time round the venerable Wall Street Journal has landed a scoop about Pioneer Natural Resources Company bid for Parsley Energy Inc in what would be a $4.1 billion takeover. Below is a link to the WSJ tale:..
It's pretty gloomy out there given the current state of affairs but hasn't put a dampener on dealmaking.
Today in the US ConocoPhillips announced a $9.7 billion for shale explorer and producer Concho Resources while chip maker Intel Corporation is in talks to sell its memory-chip unit to South Korea’s SK Hynix Inc. for roughly $10 billion. That's two $10 billion deals in a day...
An oil major is rumoured to be weighing a purchase of EOG Resources, the US-listed oil explorer and producer.
People following the situation have heard speculation one of the largest oil producers in the world is studying the possibility of acquiring EOG resources, which was previously known as the Enron Oil & Gas Company...
Equiniti, the UK-listed share registrar and outsourcing company, is at the centre of intense takeover speculation.
People following the situation have heard rumours an acquirer is once again circling Equiniti, a company that specialises in financial administration.
However, the identity of the purchaser of Equiniti is unknown, said these people following the situation.
Equiniti has seen interest from several private equity firms in the past...
Some funds, such as Marshall Wace, can reportedly see "value" in beaten up stocks such as International Consolidated Airlines Group but there other serious investors who think some of the companies that have carried big equity raises over the last few months could tap the markets again for fresh funds in 2021...
Ferguson said to have appointed NM Rothschild to find a buyer for £500 million Wolseley UK - sources
It sounds like blue-chip builders' merchant Ferguson really wants to get rid of Wolseley, one of Britain's largest suppliers to builders, plumbers and tradesmen.
According to Betaville's moles in the City of London, Ferguson has asked advisers from NM Rothschild to garner interest from buyers, such as private equity firms, for Wolseley UK...
The story is as the headline suggests - Brevan Howard has bought a 25pc shareholding in Conneticut-based One River Asset Management.
Indeed, the deal could be announced imminently, said one of Betaville's hedgie moles.
Betaville isn't sure how much Brevan Howard, led by wily Alan Howard, is paying for its stake but presumably it's in the multi-millions...
There weren't too many public company deal stories that caught Betaville's eye this weekend but The Sunday Times interview chief executive stood out like a sore thumb.
Philip Jansen, the new (ish) boss of BT Group, offered himself up to Oliver "Shahsy" Shah and John "The Ridge" Collingridge, senior business hacks at The Sunday Times for a grilling. Below is the link if you didn't read it:..
So, it would appear Sebastian Vettel has actually bought a stake in Aston Martin, according to the Formula One champion himself.
Speaking at a drivers' press conference ahead of the Eifel Grand Prix on the 11th of October Vettel said:
"If you are asking me if I have shares in the company, I have. How much? I think it’s a secondary thing and I won’t talk about."
Below is a link to a report from the press conference:..
Betaville is in a grump. And it's not because I just discovered all my expensive Roderick & Charles suits are riddled with holes thanks to an infestation of moths during lockdown.
The main reason I'm so annoyed is because I got wind something was afoot with Talk Talk yesterday afternoon so I put a call in to one of the parties involved...
For many fund managers Aston Martin is the stuff of nightmares: a stock that floated in 2018 at £19.00 and now trade at just below 60p.
That's a shocking amount of "value destruction".
But there has been a frisson of excitement around the share since Canadian billionaire wheeler dealer Lawrence Stroll put together a consortium of other racing affionados (Toto Wolff) and other multi-millionaires (Swiss-Italian Ernesto Bertarelli) to refinance the iconic marque...
Betaville predicted in his last post that after the summer the Natixis deal might come back onto BPCE's agenda and right on cue it would appear that it has.
French financial newspaper "of record" Les Echos is claiming French private banking group BPCE is "exploring options for its Natixis unit as it plans to unveil new strategic priorities along with third quarter results on November 5, 2020"...
Fred Done said to have hired Lazard to work on £2.9 billion William Hill counterbid, reports The Sunday Telegraph - Part 2
Well, it didn't take long for The Sunday Telegraph's splash story about Fred Done's £2.9 billion counterbid to be quashed.
Rival papers, such as City AM and The Times, are quoting spokespeaople or "people close to the situation" as saying the bookie has no interest in mounting a bid for the whole company. Below are the link:..
Fred Done said to have hired Lazard to work on a £2.9 billion William Hill counter offer, reports The Sunday Telegraph
There are plenty of interesting stories in the British Sunday newspaper sections today, including Neil Craven's piece on the billionaire Issa brothers and their purchase of retail stalwart Asda. Below is the link to Neil's jackanory, which seems to be getting plenty of air time on Twitter this morning:..
Tucked away in yesterday's Evening Standard City Spy column is a little diary story about how Sir Martin Sorrell stayed in Belgravia during the summer months of the crisis instead of escaping to "sunnier climes" such as the South of France.
Apparently, according to the item, Sorrell spent most of his time at his central London pad growing and looking after "oranges and lemons" as it has a sun trap.
Rolls-Royce has finally announced the details of its deeply discounted rights issue thereby effectively confirming the precise details my original RARE Alert from a couple of weeks ago (click on the link https://www.betaville.co.uk/betaville-intelligence/rare-alert-rolls-royce-said-to/)...
[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].