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.
The Danish billionaire behind Bestseller appears to be calling maverick Mike Ashley's bluff with ASOS, the London-listed online fashion retail firm.
Yesterday, one of Anders Hoch Povlsen's vehicles, Aktieselskabet, disclosed it now owns a 27.1pc shareholding in Asos. Below is a link to yesterday's announcement:
https://ir.design-portfolio.co.uk/viewer/88/59878..
Apologies for the tardy update Betavillers; it was a Bank Holiday in the United Kingdom yesterday so little old Betaville took a rare (no pun intended) day off.
Anyway, I see that Danaher, the US-listed conglomerate, won the auction for Abcam paying $5.7 billion for the UK headquartered but US-listed producer and distributor of protein research tools. Below is a link the press release:..
I see The Daily Telegraph is this morning reporting on the front page of its business section that Aston Martin is a takeover target.
The newspaper, which used to be little old Betaville's former full time employer, based its takeover tale about the London-listed luxury marque on quotes from Jefferies analyst Philippe Houchois, who reportedly said: "The relationship agreement between Geely and Yew Tree provides a floor and conditions for a potential takeover."..
Little old Betaville suspects it won't be too long now before Mike Ashley's Frasers Group becomes the largest shareholder in ASOS.
That's because yesterday Frasers Group disclosed once again that it had been accumulating more stock in the London-listed online fashion retailer.
According to regulatory filings, Frasers Group now owns 19.3pc of ASOS. Below is the link to yesterday's announcement:..
It was once held by every self respecting investment banker in the City of London, Wall Street and most other global financial districts.
But along came Apple's iPhone, so out went the BlackBerry for many dealmakers.
Now, though, Reuters and Bloomberg have just broken news about a potential takeover of the Canadian technology and software company that once used to make the BlackBerry device...
Another good spot from The Times market report.
The column highlights that Frasers Group, which is ultimately controlled by the billionaire Mike Ashley, has increased its shareholding in Asos to 18pc. Below is the link to yesterday's announcement:
https://www.londonstockexchange.com/news-article/ASC/holding-s-in-company/16095632..
Adnoc's EURO 11 billion plus tilt at German chemicals company Covestro is starting to feel a lot like the big ticket summer football (soccer) player transfers you read about on the back pages of newspapers.
According to German rag Handelsblatt, Covestro's board is now holding out for a formal offer of EURO 70 a share before it's willing to enter into official negotations with the Abu Dhabi-based oil group...
It's another merger Monday in the US, with several deal stories hitting the tape during today's August session. They include:..
There was a paragraph that stood out in today's The Times market report written by Dominic "Dom" Walsh.
"The latest whisper is that Frasers Group, the second biggest shareholder in the online fashion house with a 17 per cent stake, is trying to find a block of shares with the aim of becoming the biggest shareholder and getting a seat in the boardroom. Talk that Mike Ashley could bid refuses to go away"...
Sometimes the confirmations come within a few days; sometimes it takes a few months.
Take, for example, the Suse takeover story.
Back in May this year little old Betaville revealed in part 4 of an UNCOOKED Alert series that Suse, the German software firm, was being looked at by an acquirer following interest in a deal last year. Below is the link to that alert: ..
Arch rivals at Bloomberg did well to get the exclusive line on BAE Systems talks to buy Ball Corporation's aerospace division last night.
This morning BAE Systems has announced the purchase of the maker of sensors ranging from space flight to weather forecashting. Below is the link to this morning's announcement...
Little old Betaville notes that arch rivals at Bloomberg have revealed that France's Sanofi was the rival bidder in talks to buy Reata Pharmaceuticals, the US-listed biopharmaceutical company.
Below is a link to that piece:..
It's funny how bears like to come out of the woods together.
Yesterday, it emerged that veteran short seller Michael Burry had taken out a big bet against the US stockmarket and just now Hindenburg Research, the activist short seller led by Nathan Anderson, has unleashed a scathing note on its latest target - US-listed online brokerage group Freedom Holding Corporation, which also owns a bank and two insurance companies operating in Kazakhstan. ..
As little old Betaville pointed out earlier this week, dealmaking in the US continues unabated despite the summer holidays.
Today, Tapestry - the company behind the Coach clothing brand - announced the $8.5 billion takeover of Capri Holdings, which owns Versace, Michael Kors and Jimmy Choo.
Tapestry is paying Capri shareholders $57 per share in cash, representing a premium of nearly 65pc. Below is a link to the press release:..
La Francaise des Jeux SA, the France-listed operator of national lottery, is said to be the French company eyeing Kindred Group, the Swedish-listed gaming company.
Yesterday, Betaville Intelligence reported that a mystery French company is participating in the strategic review being carried out by Kindred...
A good spot from The Times market report.
Mike Ashley has increased Frasers Group's stake in London-listed fashion retailer Asos, again.
Frasers Group now owns just under 17pc of Asos, according to The Times.
And if Ashley keeps on increasing his stake in Asos to over 21.8pc he will overtake the largest shareholder in the company - Danish billionaire Anders Povlsen, the owner of Bestseller...
The suggestion that nothing happens in August clearly does not apply in the US, where workers tend to take a lot less holiday than in Europe.
Indeed, today five US public company deals were announced in what is being dubbed another "Merger Monday".
Those deals include:
1. Campbell Soup's $2.7 billion takeover of pasta sauce maker Sovos Brands.
2. Clayton Dubilier & Rice's $2.3 billion acquisition of packaging group Veritiv Corporation...
Tucked away in the back of Oliver "Shahsy" Shah's business comment column in yesterday's The Sunday Times was a line about what retail billionaire Mike Ashley might do next at Asos, the London-listed fashion retailer.
Loyal readers will know that Frasers Group, the retail giant controlled by Ashley, has been building up a sizeable shareholding in fashion retailer Asos, which late last year received a takeover approach from Turkish firm Trendyol...
Who says dealmaking is put on ice on the European continent in August?
This morning it has emerged that American private equity house KKR is backing the take private OHB SE, a Germany-listed operator of low-orbiting and geostationary small satellites.
KKR is working with the Fuchs family on the deal, reveals Bloomberg. The Fuchs currently own around 70pc of OHB...
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