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 ben@betaville.co.uk. 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.

REVEALED: 3i said to weigh to £250 million sale of Aspen Pumps - Part 2

Wednesday, 18 December 2019, 10:14 am

Oh look - 3i has just confirmed Betaville's scoopette from last week about the private equity firm's plot to sell Aspen Pumps.

In the end rival buy-out firm Inflexion - led by dealmaker Simon Turner - snapped up the specialist pump manufacturer that designs, manufactures and distributes specialised mini pumps that remove condensate water from air conditioning and refrigeration systems...

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Muddy Waters mauls rumoured bid target NMC Health

Tuesday, 17 December 2019, 10:33 am

Are you are wondering why FTSE 100-listed NMC Health's shares are down 20pc this morning? Well, it's because notorious short seller Muddy Waters has just released its first note on the gulf-based healthcare company.

Now, I'm not going to repeat the allegations from Muddy Waters - which hit the headlines earlier this year with its allegations about Burford Capital - here but obviously Carson Block's outfit hasn't been particularly complimentary...

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Is the tide turning for Odey the Brexiteer? The series returns, again. - Part 2

Monday, 16 December 2019, 5:50 pm

Perhaps it isn't all bad news for Crispin Odey: his chum, British prime minister Boris Johnson, won a huge majority for the Tories on Friday.

That comes after Odey called on British business leaders to back Boris in an interview with yours truly for the Mail on Sunday's business section over the summer. Below is a link:..

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Betaville Intelligence

UNCOOKED ALERT: Quilter said to ...

Friday, 13 December 2019, 3:10 pm

Quilter, the FTSE 250-listed wealth manager, has come into focus amid talk it will likely soon see some major corporate activity.

Some people following the situation have heard rumours a mystery buyer is circling Quilter although the identity of the acquirer is not known.

Quilter was formerly known as Old Mutual Wealth Management before it was spun out of Old Mutual, the Anglo-South African financial services group, in 2018...

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Tags: Quilter
Betaville Intelligence

UNCOOKED ALERT: Worldline said to ... - Part 2

Thursday, 12 December 2019, 1:42 pm

Worldline's pursuit of Ingenico, the French payment terminals group, is likely to roll into the New Year but an agreed deal appears unlikely in the short term.

People following the situation said a Worldline merger with Ingenico is more likely to take place in 2020 after the latter rebuffed a EURO 120 approach from the former in the last quarter...

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Tags: Worldline

REVEALED: 3i said to weigh £250 million sale of Aspen Pumps - sources

Tuesday, 10 December 2019, 2:42 pm

3i is considering a sale of Aspen Pumps, a UK-based company that designs, manufactures and distributes specialised mini pumps that remove condensate water from air conditioning and refrigeration systems.

Sources close to the situation said 3i, the FTSE 100-listed private equity investor, has appointed bankers from Baird to find a buyer for Aspen Pumps and the company may be worth between £250 million and £300 million as it generates earnings of around £25 million...

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When Elliott turns up (or doesn't)...

Monday, 9 December 2019, 5:03 pm

Paul Singer's Elliott Management/Advisors started shaking the tree at Alexion last week, demaning a "proactive" sale of the $25 bilion US biopharmaceutical company.

Betaville wasn't too surprised to see the activist hedge fund make Alexion it's latest target as this website's RARE sources were suggesting in summer that both US-listed Amgen and Switzerland's Roche were (or perhaps still are?) targeting Alexion with a view to making formal offers for the company...

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Betaville Intelligence

UNCOOKED ALERT: Phoenix Group Holdings said to ...

Thursday, 5 December 2019, 12:06 pm

Phoenix Group Holdings, the London-listed life insurer, has come into focus amid talk it could soon be involved in an M&A transaction.

However, people following the situation said it isn't clear what type of deal Phoenix is working on.

One person following the situation had heard rumours a mystery buyer is eyeing a takeover of Phoenix, which specialises in buying up old books of life insurance business that other companies no longer want...

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Betaville Intelligence

RARE ALERT: Inmarsat said to ... - Part 9

Tuesday, 3 December 2019, 7:53 am

That's the end of that, then.

The hedgies attempt to squeeze some extra cash out of Apax, Warburg Pincus and the Canadian pension funds for Inmarsat ends as a damp squib after they effectively folded in this game of poker by withdrawaing their joint legal action at today's hearing at the Court to sanction the Scheme of Arrangment. Below is the link:..

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Betaville Intelligence

RARE ALERT: Inmarsat said to ... - Part 8

Monday, 2 December 2019, 9:05 pm

To the Court for tomorrow's hearing to sanction Warburg Pincus and Apax's Scheme of Arrangement to take Inmarsat private.

The judge may be confronted by a bunch of angry hedgies who have been arguing the private equity firms should pay more or attach a contigent value right aspect to their deal because of developments in the US sattelite industry may mean Inmarsat is worth significantly more...

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The odd goings-on ahead of this £750 million Northgate-Redde merger...

Friday, 29 November 2019, 2:20 pm

The market was a tad surprised by this morning's announcement about Northgate's all-share merger of Redde, which provides replacement vehicle, repair and recovery services to insurance company customers.

Not least because just a couple of days ago around 45 million Redde shares changed hands, which effectively saw Neil Woodford's defunct outfit (now controlled by Blackrock) and his old colleague Mark Barnett of Invesco Perputual cleared out (or partially cleared out) of the stock...

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Betaville Intelligence

UNCOOKED ALERT: Worldline said to ...

Friday, 29 November 2019, 1:20 pm

Ingenico, the French payment terminals company, is said to have now rejected a recent takeover approach from Worldline.

People following the situation said Worldline, another French payments company, is rumoured to have submitted a takeover proposal to Ingenico valuing the business at EURO 120 a share but this has been rebuffed by the latter.

Some people had heard Worldline is preparing to raise its offer to EURO 130 a share...

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Tags: Worldline
Betaville Intelligence

RARE ALERT: Arthur J Gallagher & Co said to ... - Part 2

Thursday, 28 November 2019, 5:07 pm

Betaville has a rather fragile ego thanks to years of working at the coalface of British financial journalism.

So, I was pleased to see US insurance giant Arthur J Gallagher & Co announce it is planning to buy the remainder of London-based reinsurance broker Capsicum Re, set up by Graham "Chily" Chiltern, founder of Benfield (which was eventually sold to Aon)...

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[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].