Equiniti eyed for 315-325p-per-share bid by GTCR - report
13 OCT 2018
GTCR, a US-based private equity company, is rumoured to be considering a takeover offer for London-based financial-services outsourcer Equiniti [LON:EQN], Betaville reported. People claiming familiarity with the situation said GTCR may be prepared to pay within the 315p-325p per share range, the item reported.
The sources said Greenhill and Goldman Sachs are acting as advisers on the potential deal, which could be worth more than GBP 1bn (USD 1.3bn). Equiniti has a GBP 771m market cap.
SNC-Lavalin faces takeover risk due to depressed valuation, analysts say
13 OCT 2018
SNC-Lavalin Group [TSX: SNC], the Montreal, Quebec-based construction and engineering firm, risks becoming a takeout candidate if its share price continues to slump, said analysts in a report from The Globe and Mail on 12 October.
AltaCorp analyst Chris Murray said in a research note cited in the report that a recent development, which saw Public Prosecution Service of Canada say that it won't invite SNC to work out a settlement that could have ultimately stayed charges of fraud and corruption, means that the company's shares could face "persistent undervaluation." He added that such a scenario could make SNC a takeover target. Murray added in the report, however, that there's still a chance that SNC could still secure a negotiated settlement.
According to the report, Canaccord Genuity analyst Yuri Lynk said in a recent research note that SNC's management and board of directors should be considering options like privatization or a corporate sale given its valuation problem.
SNC's market cap is CAD 7.79bn.
CECONOMY CEO Pieter Haas steps down
13 OCT 2018
The Supervisory Board of CECONOMY [ETR:CEC] and Pieter Haas, its Chief Executive Officer (CEO), have mutually agreed to separate with immediate effect. Until the appointment of a successor, Mark Frese, Chief Financial Officer (CFO), and Dr. Dieter Haag Molkenteller, Member of the Management Board (CLCO), assume Pieter Haas' tasks on an interim basis.
Based on an understanding with the Supervisory Board, Mark Frese decided to continue fulfilling his tasks as a Member of the Management Board until the appointment of his successor and to find an amicable revocation of his employment contract.
The management board decided that Ferran Reverter Planet, Chief Operating Officer (COO) of Media-Saturn-Holding GmbH (MSH), shall assume Pieter Haas' mandate as CECONOMY's unilaterally appointed managing director of MSH.
CECONOMY has a market cap of EUR 1.67bn
Carven to be acquired by ICICLE for EUR 4.2m (translated)
13 OCT 2018
ICICLE (Zhi He Shi Shang), a Chinese women's wear designer and retailer, has acquired Carven, a French privately owned fashion house, according to a newswire report which did not disclose the deal value.
The Reuters report cited ICICLE as saying that the brand will be relaunched after the acquisition.
Chinese-language Ladymax.cn quoted a source familiar with the deal as saying that the ICICLE bought the target for EUR 4.2m and will inject another EUR 8m to revive the brand.
It was reported that Carven had filed for insolvency proceedings and for a safeguard procedure in order to look for a buyer.
Fever-Tree engages Morgan Stanley to handle potential buyer - report
14 OCT 2018
Fevertree Drinks [LON:FEVR], the UK-based tonic water and mixers supplier, is rumoured to be conducting an informal process to handle potential takeover interest, The Mail on Sunday reported. City chatter suggests Morgan Stanley is working on the matter with Fever-Tree, although the drinks company denied the rumour, the report said.
The item noted reports earlier this year suggesting PepsiCo [Nasdaq:PEP], Diageo [LON:DGE] or Unilever [LON:ULVR] might be interested in a takeover of Fever-Tree.
Fever-Tree has a GBP 3.43bn (USD 4.51bn) market cap.