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.
It's been a while since I had a story about beleguered fund manager Neil Woodford but one has just come in now from a loyal reader.
People familiar with the matter said Woodford has just sold his 20pc shareholding in GYG, the company that specialises in painting, supplying and looking after super yachts.
These people said Woodford has sold his entire stake in GYG at 40p a share following two weeks of tough talks with potential buyers...
Yesterday Nicky Morgan - the culture secretary - declared she is minded to approve Apax and Waburg Pincus's £2.7 billion takeover of Inmarsat.
Now, that actually dissapointed some punters, who were rather hoping the regulatory authorities would carry out a more in depth investigation into the buy-out...
Why is Moelis & Co the sole adviser to the Hong Kong exchange on its £32 billion bid for the LSE? - Part 5
Alistair Osborne's analysis of Hong Kong's failed attempt to buy the London Stock Exchange in The Times is probably the best of lot from today's coverage in the national newspapers. Betaville particuarly enjoyed the pay off from Alistair, a former colleague and wind up merchant.
"Mr Li’s stock exchange adventure was almost as surreal as his book."..
Why is Moelis & Co the sole adviser to the Hong Kong exchange on its £32 billion bid for the LSE? - Part 4
The Hong Kong exchange did manage to drum up some other advisers alongside Moelis to join its bid for London Stock Exchange (HSBC and UBS) but in the end it was too late. Yes, this morning the Asian exchange said it is pulling out - quelle surprise. Below is the link to the company's statement:..
So, it would appear Betaville's RARE sources were barking up the right tree several weeks ago when they highlighted that SIG had hired Lazard to find a buyer for its handling division.
Today, FTSE 250-listed SIG announced the sale of the business to France Air for just under £200 million. Below is the link:..
Reuters has just published another story that effectively confirms Betaville Intelligence's UNCOOKED ALERT from Monday about Cedar Fair.
Indeed, below is the link to the latest from Reuters, which suggests Cedar Fair has rejected a $70 a share offer from Six Flags...
Betaville counts five this week. That's five bosses of Britain's top companies that have announced their departures or resginations, including this morning's news about the retirement of Bob Dudley, chief executive of FTSE 100-listed giant BP.
Below is the link:..
So, Alison Cooper is bailing out of Imperial Brands. Below is the link:
Oh look - I see Greg Roumeliotis of Reuters has just published an piece that is eerily similar to Betaville's UNCOOKED ALERT from Monday about US entertainment group Cedar Fair. See below:..
There are plenty of big names resigning from some of Britain's biggest companies this morning: Dave Lewis from Tesco; Martin Gilbert from Standard Life Aberdeen; Vernon Hill from Metro Bank.
Now, there is a mantra in journalism that "three makes a trend" but in this case it seems like these resignations have all come for different reasons...
There were plenty of reports (not here) yesterday about how dealmaking in the UK is in the doldrums, with "the value of UK outbound merger and acquisition" sinking to its lowest level in the last decade. Below are links to a couple of pieces on the topic.
I see Bahamas Petroleum has finally coughed up about its potential equity fundraising. Below is the link:
Robert Tchenguiz, the property entrepreneur and onetime corporate raider, isn't just content with building a substantial shareholding in FTSE 250-listed bus and rail company FirstGroup.
Today, Aim-listed Ubran Exposure revealed Mr Tchenguiz has built up a 9.15pc shareholding in the property development finance company. Below is the link:..
Betaville notes Capital & Counties, FTSE 250-listed property developer, has today made an announcement with regards to demerger and sale of Earls Court. Below is the link:
Typically, autumn is when the City of London roars back into life as corporates, bankers and investors look to roll out flotations, fundraisings, mergers and takeover battles (think back to the Sky auction last year as a good example).
But it is unusually quiet in the London market. Bankers are blaming the uncertainty caused by the histrionics of parliamentarians around the Brexit deadline of October 31st...
Betaville doesn't get any enjoyment from seeing a company go bust, people lose their jobs and holidaymakers enduring mayhem...
[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].