A New Year's Eve party at Bwin

It's been a volatile morning for shares in Bwin.Party Digital Entertainment. Last night, the online gaining group released a pre-close trading update that at first glance looked like a bit of a stinker of a profit warning. Here is link to the statement: http://www.investegate.co.uk/bwin-party-digital--bpty-/rns/pre-close-trading-update/201412301809579793A/ 

The trading update comes as Bwin has been talking to "third parties" about "consolidation" and "business combinations". Indeed, Geoff Foster says in his Daily Mail market report today that gaming software company Playtech is on the verge of winning the Bwin auction with a 140p a share/£1.2 billion offer.

The top FTSE 100 performer in 2014 is...

Dixons Carphone!

According to Thomson Reuters, the electrical goods retailer has risen by about 70pc this year and is on course to finish 2014 as the top performing FTSE 100 stock.

The "disrupters"

Little old Betaville likes to think of itself as a bit cheeky, troublesome and unruly, so I particularly enjoyed the article in today's Financial Times about the "disrupters".

Here is a link to the piece: http://www.ft.com/cms/s/2/b9677026-8b6d-11e4-ae73-00144feabdc0.html#slide0

Weekend review

It's always tricky at this time of the year to rustle up decent jackanories but my old colleague Graham, "Ruddy", Ruddick hasn't done too badly this weekend.

Graham, who works at The Daily Telegraph and The Sunday Telegraph, got a decent line from his interview with Andy Clarke, the chief executive of Asda, about potential consolidation in Britain's ailing supermarket sector.

It's cheeky bid time - part 2

Alistair Osborne's brilliant column this morning was alluding to was I suggesting in yesterday's post about Afren although I have to admit his missive was somewhat more sophisticated, detailed and eloquent than mine. If you haven't read Alistair's column, here is a link to it: http://www.thetimes.co.uk/tto/business/columnists/alistairosborne/article4305158.ece

The one thing Alistair - a former colleague/boss of mine during my time at The Daily Telegraph - didn't mention was that Heritage Oil may be one of the parties keen on coming up with a rival bid for Afren following Seplat's approach.

It's cheeky bid time

The boys over at FT Alphaville might have knocked off until the New Year but don't worry, little old Betaville will keep on going until 2015.

First, let's address this rather cheeky bid from for Afren from Seplat, which I have to admit I had never heard of until this morning.

A Quindell snippet

I hear Quindell's board met this afternoon to discuss some of the findings of PricewaterouseCoopers's "independent review" into the beleaguered company's claims processing business.

For readers that don't recall, click on the link to this Financial Times story about the PwC review: http://www.ft.com/cms/s/0/61ad7a76-7eaf-11e4-a828-00144feabdc0.html#axzz3Ltzlu99D

Another FT deal scoop

The Financial Times is really on fire at the moment. Following yesterday's scoop about a takeover bid for Lloyd's of London insurer Catlin the venerable newspaper this afternoon broke the story about the owner of British Airways considering a 1.1 billion Euro offer for Aer Lingus. Here is a link to that piece:

http://www.ft.com/cms/s/c6fa70fe-86c1-11e4-8a51-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Fc6fa70fe-86c1-11e4-8a51-00144feabdc0.html%3Fsiteedition%3Duk&siteedition=uk&_i_referer=http%3A%2F%2Fwww.ft.com%2Fhome%2Fuk#axzz3Ltzlu99D

Time for a pay rise, Ed?

Hat tip to Bryce Elder, the stock market reporter over at the Financial Times.

Bryce led on rumours about a bid for Catlin in his market report today and - surprise, surprise - the Lloyd's of London insurer later confirmed it had received a £2.6 billion approach from US-listed XL Group. Here is a link to a confirmation of Bryce's top tale: http://www.investegate.co.uk/Index.aspx?searchtype=2&words=Catlin

Hellman & Friedman said to eye sale or float of Hostel World

I see from today's newspaper coverage there were a whole bunch of suitors for Lastminute.com, the online travel agent that was the icon of the dot com boom and bust in the late 90s/early noughties.

According to the Financial Times, Priceline, Expedia, Orbitz, Ctrip, eDreams and Oakley Capital were all keen on Lastminute.com. Here is a link to the FT piece:

Game, set and match for Repsol?

Wow - Talisman Energy has leapt over 45pc in early trade after agreeing to a knockout $8.3 billion offer from Spain's Repsol.

The Spaniards must have been anxious to secure a deal with Talisman as they are paying $8 a share, which is considered by some market participants to be a much higher-than-expected offer price.

Parky link

Gary Parkinson, the stock market reporter over at The Times, is back on top form with a brilliant and amusing column on bonuses.

Here is a link to Parky's piece:

http://www.thetimes.co.uk/tto/business/columnists/tradesecrets/article4297079.ece

A sort of Sunday review

There has been lots of coverage in the last few days about Repsol's renewed interest in buying the ailing Canadian oil company Talisman Energy for up to $8 billion. Here is a link to a Financial Times piece: http://www.ft.com/cms/s/0/6c74867e-8202-11e4-a9bb-00144feabdc0.html#axzz3Ltzlu99D

If readers are casting about for other potential buyers of Talisman, I will remind you I wrote this piece for The Sunday Times back in October:

http://www.thesundaytimes.co.uk/sto/business/article1469913.ece

Back on Tip TV talking about Severn Trent, Pharma deals and...Quindell

The festive season is already starting to take its toll on me but I dragged myself into Tip TV this morning. Here is a link to today's clip: http://www.tiptv.co.uk/archives/mergers-acquisitions/

UPDATE: Apologies. I think I said in today's Tip TV clip that I wrote about Severn Trent for dealReporter in February 2014 but it was actually published in late January.  

Former Tesco executive leaves Sun European - where to next?

Much of today's coverage in the British newspaper business sections is focused on Tesco's terrible problems so I thought would post a piece linked to the retailer even if that connection is pretty tenuous.

I hear from good sources Tim Mason, the former head of Tesco's Fresh & Easy division in the US, has effectively left private equity firm Sun European Partners, which specialises in buying struggling retailers.

The Rio line up

Here is an interesting snippet on the Rio Tinto/Glencore situation.

I hear from top sources that Rio Tinto has retained Simon Robey's M&A advisory boutique Robey Warshaw alongside its corporate brokers and other financial advisers to work on "strategic" matters. Undoubtedly, Robey Warshaw will be providing the Rio board with advice on how to defend themselves from Glasenberg and Glencore, which earlier this year made a multi-billion dollar takeover approach for its rival.

Weekend review on Shire, Merck, Cubist, Crystal Amber and J Sainsbury

Hat tip to David Gelles of The New York Times for landing the scoop about US drugs giant Merck talking to Cubist Pharmaceuticals about a takeover deal of more than $7 billion.

Here is a link to David's piece: http://dealbook.nytimes.com/2014/12/05/merck-in-talks-to-acquire-drug-maker-cubist-for-more-than-7-billion/?_r=0

Back on Tip TV talking about Bwin, Ladbrokes and rather large resource deals

I was invited back on Tip TV this morning. Here is a link to today's show: http://new.livestream.com/accounts/6179362/events/3637039/videos/70380132/player?autoPlay=false&height=360&mute=false&width=640" 

A revealing question: is Permira also punting on Bwin?

Apologies for a headline that posits a question. The problem is Betaville's best sources are certain Permira is the private equity firm that is taking a look at Bwin.party Digital Entertainment. However, people familiar with the private equity firm have tried to pour cold water on the tale, denying the buy-out shop has any interest in the online gaming company. Talk about awkward.

A quick recap for readers unfamiliar with this particular situation: Bwin confirmed last month it is in talks with various unnamed parties about a potential deal and Deutsche Bank is managing the strategic review.

Vodafone, Vodafone - part 2

There appear to be some pretty divergent views within the financial media about what mega deal Vodafone is planning to do next.

Last Friday Bloomberg reported that Vodafone was looking at a $130 billion merger with Jon Malone's Liberty Global: http://www.bloomberg.com/news/2014-11-28/vodafone-said-to-eye-takeover-of-malone-s-liberty-global.html

This morning, Christopher Williams of The Daily Telegraph seems to be reporting the exact opposite: http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/telecoms/11270650/Vodafone-chief-denies-bid-for-Virgin-Media-owner-Liberty-Global.html

Chinese said to be circling Premier League - again - Part 3

I see Dalian Wanda, the multi-billion dollar Chinese conglomerate, is still getting a lot of attention in the British newspaper business pages - this time for getting into pig farming and pork production. Here is a link to a Financial Times piece on the topic: http://www.ft.com/cms/s/0/a3571d66-7a26-11e4-8958-00144feabdc0.html#axzz3KpuRbCmr

It won't be long before Wang Jianlin - the billionaire who controls Dalian Wanda - adds a European football club, possibly one from the Premier League, to Dalian Wanda's eclectic portfolio of businesses.

Chinese said to be circling Premier League - again - part 2

I see most of today's broadsheet newspaper business sections have given Dalian Wanda's interest in buying a stake in Lions Gate Entertainment Corp, the US studio behind "The Hunger Games", a lot of space and attention.

The other asset Dalian, led by Chinese billionaire Wang Jianlin, is interested in buying is a European football club, possibly one in the British Premier League. Here is a link my previous article on the topic: http://betaville123.blogspot.co.uk/2014/11/chinese-said-to-be-circling-premier.html

Playtech/Sagi said to be punting on Bwin

Here is an interesting snippet on a live M&A situation.

I hear from excellent sources that Playtech, the gaming software development company, and its largest shareholder, the Israeli billionaire Teddy Sagi, are taking a good hard look at Bwin.Party Digital Entertainment, the online betting group.

Two Betaville scoops confirmed on one Winter's morning

Here is something to cheer you up on a cold, grey Monday morning - a couple of my Betaville """"""exclusive""""" jackanories have just been confirmed.  

Kier Group said in a statement this morning via the UK regulatory news service that: