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.
Who said the London M&A market was in the doldrums?
This morning Prosus has just launched a hostile counter bid for online food delivery company Just Eat, valuing the company at 710p a share in cash. Below is a link to the RNS announcement:
Betaville was in a rather good mood on this gloomy Autumn Monday.
Indeed, nothing gives little old Betaville more pleasure than having my RARE Alerts, scoops and jackanories followed up by official confirmations as it keeps the naysayers at bay...
Watchstone, the company formerly known as Quindell, is on the verge of reaching a settlement with the Australian legal group that advised a BBC Producer on a high-profile claim against Jeremy Clarkson...
Oh look - I see Avacta Group, the Aim-listed biotechnology company, has effectively confirmed little old Betaville's RARE alert from yesterday morning. Below is the link:
Avacta Group, the Aim-listed biotechnology company, is close to announcing a multi-million pound equity fundraising.
Sources familiar with the matter said Avacta is tapping up investors for up to £7 million, possibly via a placing.
It's believed Avacta is looking to raise the new capital at around 15p a share, said sources familiar with the matter...
Is the end game for colourful Telit Communications fast approaching?
Well, there has been talk about interest in a combination with Canada's Sierra Wireless for the last twelve months but so far no formal confirmation has emerged.
Meanwhile, Telit's shareholder register becomes increasingly eclectic, with Richard Griffiths recently declaring he now has a stake of 7.5pc in the "Internet of Things" chip company. Below is the link:..
Nick Candy is said to be working on a plan to form a consortium to buy some or all of Capital & Counties, the London-listed property company.
People following the situation have heard rumours Mr Candy, a well-known British property investor, is working with investors from the Gulf region about purchasing the beleguered property group...
Cyrus Kapadia, the newish British boss of Lazard, gets an outing in the The Times City diary today. Below is the link:
https://www.thetimes.co.uk/article/the-investment-banker-who-practises-what-he-preaches-khgwmjgdp..
It's not often you see a share price leap 500pc in a day on heavy volume - even on London's junior market.
But NF Energy Saving Corp - a Nasdaq-listed Chinese designer of "energy efficient systems" for thermal and nuclear power plants - has just leapt 508pc to $9.
Earlier today NF Energy Saving Corp announced the completion of the acquisition of Boqi Zhengji Pharmacy Chain Co, which has more than 300 pharmacy stores in China...
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...
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."..
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:
https://www.investegate.co.uk/imperial-brands-plc--imb-/rns/directorate-change/201910030700016319O/..
[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].