The Financial Times has just published an excellent piece about the mysterious financial and political fixer Ian Osborne, who has raised almost $500 million for a European SPAC. Below is a link to the piece.
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 firstname.lastname@example.org. 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.
Private equity bids for London-listed companies are coming thick and fast.
Mark, "The Kleinmanator", Kleinman of Sky News had the scoop yesterday evening with his tale about Cinven approaching Sanne Group about a take private. Below is a link to Mark's story:..
Hacks at Bloomberg have just landed a big fund management scoop - Schroders has been looking at a £5 billion plus takeover of M&G. Below is the link:
Remember Solutions 30?
It is the France-listed Luxembourg-based outsourcer that saw its share price collapse in early December following the publication of an anonymous short report and an attack by Muddy Waters, the feared short selling outfit led by Carson Block...
Betaville notes Brooks Automation last night announced announced it was splitting into two following a "strategic review". Below is a link to the press release:
So, it looks like little old Betaville was barking up the right tree earlier, with the £500 million fundraising coming from, er, SoftBank. Below is the link to The Hut Group's announcement of a rather complicated transaction that involves a joint venture, equity issue and acquisition:..
The Hut Group, the London-listed e-commerce retail giant, is rumoured to be working on a deal that could see the company raise up to £500 million of fresh funds.
People following the situation suggested the £500 million deal may be immiment although it's not clear what type of transaction is being contemplated by The Hut Group.
It's also not clear what the funds will be used for, said people following the situation...
Arch rivals at Dealreporter (where Betaville's illustrious career in financial journalism began) revealed this morning that Woodward, the US-listed designer of controls for the aerospace industry, is looking at London-listed Meggitt, the jet parts manufacturer for the defence companies.
That tale sent Meggitt's shares skyrocketing almost 14pc but there was no announcement from either party confirming any talks or even weighing of an offer...
The stakebuilding shenanigans at Amigo Loans continues.
Today, Bybrook Capital - which describes itself as an 'absolute value credit fund manager' - announced it has increased its stake in the controversial subprime lender to 9.1pc while last week JP Morgan said it controls 8.3pc.
Some market scallywags reckon JP Morgan is fronting a stakebuilding for another outfit, possibly even Bybrook...
Betaville is in a bit of a grump.
A lot of hard worrk was thrown out of the window this afternoon after infrastructure investor John Laing Group decided to confirm is in talks with KKR about a possible offer for the company. Below is the link:..
Hemogenyx Pharmaceuticals was once the the darling of the small cap market but now the shares are languishing at a five-year low, causing consternation among the company's backers.
Some are blaming today's dire state of the shares on Mint Capital, a little known investment house based in the Bahamas...
Bain Capital and Advent International also said to be interested in BT Group's £20 billion Openreach, reports the Daily Mail
There appears to be a growing trend in British national newspapers of burying quality merger and acquisition story lines into the middle of feature reports or editorial think pieces...
An email arrives from LSE-owned data provider Refinitiv. Apparently, dealmaking around the world has hit an all-time record. Now, I'm sure I have heard that one before over the last fifteen years. Anyway, below is the press release in case you are interested:
Global M&A breaks all-time April and YTD records
Betaville notes that Royal KPN NV has finally confirmed it has received approaches from EQT/Stonepeak and KKR. Below is the link to the KPN statement:
Of course, for regular readers of this website not much of the above will come as too much of a surprise.....
Today's British Sunday newspapers all led with cracking corporate scoops on their respective front pages - something Betaville hadn't seen for a while.
There was The Sunday Telegraph's tale about William Hill's new owner selling off its British betting shops, possibly to Apollo. Below is the link:..
Some big British business journalism job moves are afoot.
Jim, "Armo", Armitage, the longstanding business editor of the Evening Standard, is heading over to The Sunday Times in the same role.
Oliver, "Shaassy", Shah is to become an associate editor of The Sunday Times. ..
Sierra Wireless, the Canada-listed 'internet of things' designer, is rumoured to be back in talks with Aim-listed Telit Communications about a combination of the two businesses.
People following the situation have heard talk Sierra Wireless has made a fresh approach to Telit's board following Dbay Advisors's attempt to buy the London-listed business for 206p a share...
Betaville notes Equiniti and Siris Capital have begun talking about a deal that could see the London-listed share registrar taken private for 180p a share. Below is a link to this morning's announcement:
[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].