Jim "Armo" Armitage, the Evening Standard City editor, has dug out a top corporate scoop this morning.
The soon-to-be new The Sunday Times business editor is a proper grafter and today that hard work appears to have paid off with a tale about wealth manager True Potential appointing Credit Suisse to work on a SPAC merger deal. Below is a link to Jim's piece:..
It would appear Signature Aviation, and its highly paid advisers at JP Morgan and Tulchan Communications have decided to ignore the fact that little old Betaville published an UNCOOKED ALERT this morning about the potential deal.
In today's confirmation statement (see the link below) there is a simple reference to "movement in its share price" and no reference to Betaville's scoop (see the link below)...
Betaville's CCP theme appears to be catching on.
According to the market report in the The Times today, JP Morgan downgraded Britain's water companies amid fears that once the Corbynistas get in power the whole of the listed water sector will be re-nationalized. Below is a link to the piece by Emily Gosden, a former colleague from my time at The Daily Telegraph:..
Once you get past the acres of Brexit coverage there were some decent business jackanories knocking about in the Sunday papers today.
One story that caught Betaville's eye was a tucked away on page 2 of the Mail on Sunday's business section about how Mike Ashley is planning to hire new PR "experts" to look after his "growing retail group". Below is a link to Neil Craven's article:..
Mmmmmm...it sounds like the factoid Betaville spotted in last week's Takeda RNS about the change in advisory line up may be more significant than this website orignally thought.
Digging.....
Does anybody else think it's curious that Francois Maisonrouge has suddenly vanished from the Takeda RNS statements re Shire?..
Tongues are wagging after BCA Marketplace sacked corporate brokers at JP Morgan and HSBC and replaced them with Goldman Sachs and Numis in one fell swoop.
https://www.investegate.co.uk/bca-marketplace-plc--bca-/rns/change-of-adviser/201802190726502352F/..
No self respecting investment banker will ever admit to having too many clients. Take, JP Morgan, for example. The powerful investment bank is a corporate broker and adviser to GKN and Melrose and was almost always cited on all their deal press releases. I have pasted Melrose's £2.2 billion acquisition of American ventilitation-to-security group Nortek below and GKN's equity fundraising of about £200 million for the acquisition of Fokker Technologies in 2015:..
Stockmarket cassandras at Bank of America Merrill Lynch and JP Morgan were out in force yesterday, warning of impending market crash.
So, several leading British newspapers, such as The Times, took those warnings seriously by splashing their business sections on the strategists' gloomy predictions. Here is a link to today's piece in the The Times: ..
The corporate broking merry-go-round continues unabated in the City of London.
I'm told ITV has just got rid of JP Morgan and replaced its longstanding corporate broker, formerly known as JP Morgan Cazenove, with Citigroup. Citigroup corporate brokers are now working for ITV alongside Credit Suisse, according to people familiar with the matter...