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.
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.
https://www.cityam.com/uk-outbound-ma-plunges-to-lowest-level-in-a-decade/..
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...
This piece - https://www.telegraph.co.uk/business/2019/09/21/hong-kong-enlists-help-banking-heavyweights-win-london-stock/ - in the Sunday Telegraph's business section about Hong Kong Exchange and Clearing hiring HSBC to bolster to its bid for the London Stock Exchange caught Betaville's eye...
Oh look - FirstGroup has confirmed Betaville's recent WELL-DONE ALERT - https://www.betaville.co.uk/betaville-intelligence/well-done-alert-firstgroup-said-to/ - by announcing that Robert Tchenguiz has built a 4.24pc shareholding (or has control over that amount of stock) in the company.
Below is a link to this afternoon's announcement:..
Capital & Counties, the UK-listed property company, has taken three companies interested in acquiring its Earls Court scheme into a final bidding round but predators interested in purchasing the whole company are starting to circle the business again.
Capital & Counties is in the process of demerging its assets in Covent Garden, London from the redevelopment scheme in Earls Court, London, into two separately listed businesses...
Betaville doesn't enjoy seeing any company collapse into administration but I note the fact that the Daily Mail and others are now reporting that Thomas Cook is on the verge of going under. Below is a link to the Daily Mail piece (which was splashed across the front page of the main book but I think was a follow from the Kleinmanator of Sky News)...
Robert Tchenguiz, the British property entrepreneur and activist investor, is said to be increasing his stake in FirstGroup, the FTSE 250-listed bus and rail company, to over 4pc.
People familiar with the situation said Tchenguiz, who previously declared he owned 3.2pc of FirstGroup, now owns just over 4.2pc of the bus and rail company, sparking speculation he may ask the company to consider further corporate activity...
Thank goodness the venerable Financial Times has temporarily lifted its paywall.
It's meant little old Betaville has been able to access a rather interesting piece about the sale of Thyssenkrup's lifts unit, which I have been following with great interest as there have been mutterings about another European lift business being "in play" over the last few weeks...
Take a bow Simon Duke, a former colleague from Betaville's jobbing freelancing days on The Sunday Times business section, and Katherine Griffiths, who I worked with on The Daily Telegraph some time ago, of The Times...
The London Stock Exchange finally swatted away Hong Kong's £32 billion takeover proposal. Below is the link:
Several weeks ago Betaville copped an earful from a person close to Thomas Cook on a rare Sunday off for a piece I wrote in the Mail on Sunday's business section about the tour operator's restructuring. Below is the link:..
It struck me as odd whilst re-reading this morning's press release from Hong Kong Exchange that Moelis & Company, a mid-sized American M&A advisory firm, is the sole advisor to the Asian bourse on its takeover bid for the London Stock Exchange...
[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].