Posts tagged: Brexit

Dealmaking, Brexit and the Rugby World Cup...

Wednesday, 25 September 2019, 9:44 pm

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...

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Allied Glass on the block for up to £180 million - sources

Tuesday, 3 September 2019, 7:03 am

Who says the political crisis driven by Brexit is holding up dealmaking in the City of London?

City sources said Allied Glass - which makes bottles for Diageo whisky such as The Macallan, Grant’s and Balvenie – has been put on the market by CBPE, a private equity firm.

Bankers from Baird have been appointed to find a buyer willing to pay around £180 million for Allied Glass...

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Brexit...who cares, say French Canadians - Part 2

Thursday, 11 April 2019, 9:31 am

There is an old saying in (British) journalism: "three makes a trend".

I guess, then, we are half way there when it comes to the French Canadians and British businesses.

Several week's ago Saputo - based in Montreal, Canada - paid £1 billion for London-listed cheesemaker Dairy Crest.

And yesterday it emerged Garda World, whose headquarters are also in Montreal, is weighing a £3 billion takeover of accident-prone security company G4S...

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CCP...

Wednesday, 3 April 2019, 10:16 pm

Readers will be more than aware of plans by the City of London's banks, brokers and investment funds to accommodate for Brexit.

Indeed, some of the City's traders and bankers have already been shifted to Paris and Frankfurt with others on standby to move in the event of a hard or disordely Brexit.

But now there is a new plan whipping around the market dubbed "CCP", which is also known as the "Corbyn Contigency Plan"...

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UK dealmaking in the doldrums because of Brexit - perhaps not...

Wednesday, 19 December 2018, 1:19 pm

Typical!

Betaville was just in the process of liasing with one of the institutional data providers for the deals numbers for this quarter to prove my own theory that the volume of announced public transactions had fallen off cliff for this period compared to previous years when: boom - Pfizer and GlaxoSmithKline announce a £10billion merger of their respective consumer healthcare businesses. Below is a link to the news:..

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The bank scoop, the intrepid hack and the old team...

Wednesday, 7 November 2018, 8:47 am

Harry Wilson, City Editor of The Times, dug out a cracking scoop yesterday (or most likely the day before but it only appeared in print in yesterday's edition).

The intrepid hack discovered that Aaron Banks - the insurance "tycoon" and under fire funder of the Leave.EU campaign - had asked Oakwell Capital to find a buyer for his 29.1pc stake in Manx Financial Group, the Isle of Man's largest lender. Below is a link to Harry's piece:..

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Is the tide turning for Odey the Brexiteer? - part 35

Thursday, 25 October 2018, 9:55 am

Wow - a year really can make a difference in hedge fund investing.

Crispin Odey's flagship was up 38pc as of the end of September, according to the latest HSBC ranking of top European hedge funds.

That means the old buffer is more than likely to finish the year as the top performing European hedgie in Europe...

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SportsREdirect...

Thursday, 23 August 2018, 10:36 pm

Are you bored waking up every morning to pages and pages of Brexit coverage about essentially the same issues and arguments that have been aired since the referendum?

Are you fed up with the lack of hard corporate news?

Is the recent bout of media navel gazing about the state of (my) industry driving you up the wall?

Well, it is August after all so something has to fill the pages.....

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Is the tide turning for Odey the Brexiteer? - part 30

Wednesday, 27 December 2017, 1:53 pm

Poor old Crispin. Now, hacks and hackettes at The Times are sticking the boot in with a piece about profits and performance fees have "plunged" at Odey Asset Management following a torrid few years of terrible performance. I have pasted the link to Deidre Hipwell piece in today's business section below:..

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Is the tide turning for Odey the Brexiteer? - part 27

Friday, 24 November 2017, 9:22 am

Hacks at trade rag Financial News dug up a rare piece of good news from Odey Asset Management, the hedge fund firm run by charming Brexiteer Crispin Odey.

The Odey Absolute Return Fund - which is managed by a chap called James Hanbury - is actually doing rather well. According to the FN report, Hanbury's fund is up 11.2pc this year. Below is a link to the FN piece if you want to read all the detail:..

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Is the tide turning for Odey the Brexiteer? - part 26

Wednesday, 1 November 2017, 4:17 pm

Ping! An email arrives from a retired City contact who is in a bit of grump about receiving a letter from Odey Wealth.

Betaville's chum hasn't heard from Odey Wealth for four years but suddenly the private client arm of Odey Asset Management has got in touch asking whether he would like invest in funds either managed or overseen by charming Crispin...

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Is the tide turning for Odey the Brexiteer? - part 22

Wednesday, 27 September 2017, 8:42 am

Once again it would appear reports of a turnaround at Crispin Odey's fund might have been a tad premature.

The HSBC hedge fund performance index just hit Betaville's inbox and it shows that, perhaps, the August "revival" at Crispin's flagship Odey European Fund was just a blip.

Indeed, the Odey European Fund is back on the HSBC top 20 loserboard, showing a decline of 14pc in 2017 by the middle of this month...

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Pro-European City types cook up new British advocacy group / political party - part 4

Tuesday, 18 April 2017, 9:13 pm

Whether you work in UK financial markets or not clearly the biggest news event of the day was Theresa May's decision to call a snap general election.

What I'm wondering, though, is whether this bunch of centre ground, pro-European politicians, businessmen and City types - led by PR supremo Roland Rudd, founder of Finsbury - will break cover before the general election with their new political party or wait until Labour is decimated on June 8?..

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Post Brexit M&A from, er, SoftBank - part 2

Monday, 18 July 2016, 8:33 pm

Sorry about the delayed post Betavillers; I have been galavanting around Brussels most of today (don't ask why).

Anyway, I see both Masayoshi Son, the boss of Softbank, and Simon Segars, the chief executive of Arm, were both out on the front foot post this morning's announcement deal announcement, stressing today's mega deal had "nothing to do" with Brexit...

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Post Brexit M&A from, er, Melrose

Wednesday, 6 July 2016, 12:00 am

There is plenty of anecdotal evidence that deals that were being looked at before the Brexit referendum have either been parked or completely shelved.

Indeed, for the last couple of weeks I have been chasing a tale about a takeover of a rather large London-listed industrial company but was told yesterday the transaction has been put on hold because of the result of the Brexit referendum...

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Is the tide turning for Odey the Brexiteer - part 3

Tuesday, 5 July 2016, 12:00 am

So, it would appear Crispin Odey hasn't done as well as one might have expected from Brexit.

Mayfair types tell me Odey's flagship European fund is only up 6.8pc for the month of June.

I guess the 10pc market move higher since the post Brexit sell off hasn't helped Odey's short positioning based on his extremely bearish outlook.

That means year to date Crispin's fund is still down 26.5pc, according to one chap familiar with figures...

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Murdoch in first major UK M&A deal post Brexit with £220 million talkSport buy; Sky next?

Thursday, 30 June 2016, 12:00 am

Perhaps those (I have to include myself here) predicting a slowdown in UK M&A post Brexit spoke too soon.

News Corp - the publishing company controlled by media tycoon Rupert Murdoch - has just announced it is purchasing Talksport-owner Wireless Group for £220 million. Here is a link to the regulatory news service announcement:..

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Daniel Stewart wields the axe

Wednesday, 29 June 2016, 12:00 am

There is more gloomy news from London's small cap stockbroking industry.

I hear Daniel Stewart, which has seen its shares suspended, has this week begun a major cull, possibly about a third of its work force.

Whether this latest purge is connected to Brexit or just an extension of the general malaise in the industry remains to be seen.

I asked Peter Shea, chief executive of Daniel Stewart, about the job losses but he declined to comment...

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