Monday 29 February 2016

Back on Tip TV talking about LSE, Weir Group and Kering

Apologies in advance for the terrible audio during today's Tip TV session. But here is a link to today's session with Zak:

Bears tuck into Avanti but ... - part 2

Avanti Communications, the small cap satellite operator, has seen its shares open up over 6pc this morning.

That's because, according to one my moles, one of the major shareholders in Avanti - Scottish Widows/Aberdeen Asset Management - is thought to have "recalled" 1.6 million shares that have been lent out to traders who have taken short positions in the stock.

Saturday 27 February 2016

Saturday review

There were plenty of interesting nuggets in the today's business sections.

First off, Bryce Elder over at the Financial Times picked up on yesterday's speculation about Flowserve in his market report although reading between the lines of his perfect prose the suggestion is that Flowserve could be just as interested in IMI (yesterday the talk was about Weir Group). Here is a link to Bryce's market report:

Friday 26 February 2016

Coincidence? - returns

Here's an interesting snippet - Flowserve, the US pump manufacturer, yesterday abruptly cancelled plans to present at Gabelli's 26th Annual Pump, Valve and Water Systems Symposium in New York.

"Due to weather-related travel complications, Karyn Ovelmen, executive vice president and chief financial officer, will not be able to present as previously planned," said Flowserve in a brief statement. Here is the link to the statement:

Is there a row brewing over £2 billion London City Airport sale?

Perhaps I spoke (wrote?) too soon.

According to Kleinman of Sky News, HNA submitted a higher for London City Airport - see below.

Wednesday 24 February 2016

Panmure Gordon shenanigans

So, I was just about to publish a story about how Phillip Wale, chief executive of Panmure Gordon, has held talks with rival brokers about merging when the company stuck this statement out:

Tuesday 23 February 2016

Is Odey still bearish or turning bullish?

This time last year, Crispin Odey, the quintessentially British upper class hedge fund manager, hit the headlines when he turned particularly bearish, predicting a global economic downturn that will be "remembered in a hundred years" and leave stock markets facing devastation.

But it appears the charismatic Odey is - potentially - changing his tune. Well, at least with regards to the US economy in the short term.

Robey Warshaw land another big deal

Reuters has just landed a cracking scoop about the LSE getting back into merger talks with Deutsche Borse.

Here is a link to the confirmation release:

Flag pole alert - part 7

Readers might recall the heightened speculation towards the back end of last year about British American Tobacco weighing a £50 billion break up takeover bid for Imperial Tobacco, now called Imperial Brands.

Well, I see Imperial Brands, formerly Imperial Tobacco, has just appointed Barclays as joint corporate broker alongside Credit Suisse.

Sunday 21 February 2016

Revealed: Argus Media Group appoints bankers to carry out sale of up to £1 billion - part 4

Tucked away in the news digest of today's The Sunday Times business section is an item about some of the bidders in the running to purchase Argus Media Group, which has been put up for sale by the founder's family.

Singaporean sovereign wealth fund Temasek, and publishers Verisk Analytics, Hearst and IHS are named as potential purchasers that expressed an interest in the commodities news and data provider.

Friday 19 February 2016

Quelle Surprise: A counterbidder emerges for Home Retail Group

Regular viewers of Tip TV won't be surprised to learn of Steinhoff's 175p a share counter bid for Home Retail Group.

That's because just over 11 days ago I highlighted on the show there were vague rumours doing the rounds about a potential counter offer for Home Retail Group. Here is the link:

Thursday 18 February 2016

A man and his view...

It's a good to see another one man band provoke a statement from a multi-billion dollar company.

Rob Manalo - a former broker at Jefferies - recently set up shop on his own and today published a note via his newly-established outfit Manolo LLP saying:

Wednesday 17 February 2016

Village gossip - Sandell Asset Management founder said to be planning to move to the UK

Thomas Sandell, the founder of one Europe's original "event driven" investment firms, could be about   to move old Blighty.

City sources told little Betaville that Sandell has indicated to friends and colleagues he is planning to move to London from New York.

Saturday 13 February 2016

Village gossip - top British dealmaker quits Canaccord Genuity for Macquarie

So, I alluded to a major departure from Canaccord Genuity last week and now I have finally bottomed out the tale.

I understand Jacques Callaghan, one of the City of London's leading investment bankers, has left the beleaguered Canadian outfit for Australian investment bank Macquarie.

Friday 12 February 2016

In The Times today: acerbic Alistair on top form; Helge Lund to head BP

It's a bit late in the day but if you have a copy of the The Times and are planning on having a quiet Friday night in then Alistair's Osborne's business comment column is worth a read. Here is a link if you haven't got a copy:

Canacord Genuity wields the axe - part 2

Canacord Geniuty appears to have tacitly confirmed my tale from earlier in the week.

In case you missed it, the broker/investment bank released dire 3rd quarter results this morning, announcing there would be a major "restructuring" resulting in job losses in the UK and elsewhere.

Thursday 11 February 2016

Another day, another multi-billion pharma deal - the series returns!

I have to admit I was surprised to see US generic drugs giant Mylan return for Nordic group Meda given the market turbulence and general carnage in biotech share prices.

Hat tip, though, to the Financial Times for landing the scoop last night about the $9.9 billion takeover deal.

Wednesday 10 February 2016

Canaccord Genuity wields the axe

Here is a tale to add to the doom and gloom that has descended upon financial markets since the beginning of the year.

It would appear there has been a bit of a cull over at Canaccord Genuity, the Canadian stockbroker that has been gobbling up British brokers in the last couple of years.

Tuesday 9 February 2016

Top of the market? - part 6

I know I should probably reign in the chest beating but global stock markets are down almost 20pc since last spring's highs, so perhaps my "top of the market" series was useful to readers after all.

And I couldn't help but notice that a company that was taken private at the top of the last bull market (i.e in 2007) is floating just as the stock market (potentially) flirts with its the latest "top".

Dobson to retire from FTSE 100-listed Schroders, according to The Times

It never ceases to amazes me how some of the juiciest City tales end up in the diary.

For example, the lead item in The Times City People diary reveals there is a "whisper" Michael Dobson, the veteran Schroders chief executive, is contemplating retirement and may to step down from the blue-chip, blue-blooded fund manager at the next set of figures.

Friday 5 February 2016

Mega consortium in trouble?

The "mega" consortium chasing London City Airport might be, well, becoming a bit less "mega".

In case you don't recall, the consortium consists of an unusually large amount of constituents, including Borealis, Ontario's Teachers Pension Fund, AimCo, Hermes and Wren House, Kuwait's sovereign wealth fund. Here is a link to Betaville's original scoop on the "mega" consortium and also HNA's bid:

Thursday 4 February 2016

HSBC takeaway - part 2

Readers might recall that earlier this week HSBC was quick out of the blocks to boast how it was the "sole" financial advisor to ChemChina on its $43 billion purchase of Sygenta, sending out a release on topic in the early hours of Wednesday morning.

Well, it turns out that might not be the case. According to Bloomberg, some chap called Ze'ev Goldberg was never "far from the side" of ChemChina chairman Ren Jianxin during the heated negotiations with Syngenta.

Wednesday 3 February 2016

Quelle Surprise: Reuters reports Roche approached Pacific Biosciences about a takeover

Reuters has picked up on another one of my Tip TV stories.

Yesterday, the news agency "broke" the story that Swiss pharma giant Roche had approached Pacific Biosciences about a takeover deal. Here is the link:

HSBC takeaway

Ping! An email arrives from HSBC with the headline:

HSBC sole financial advisor to ChemChina on Syngenta acquisition

Tuesday 2 February 2016

Mega consortium comes together for London City Airport; China's HNA also rumoured to have submitted first round offer - part 4

There is a good story in the Financial Times this evening about British Airways and London City Airport.

BA is threatening to pull out of London City if the airport is sold for more than £2 billion as it could result in higher charges for the airline, according to the Financial Times. Here is the link:

Quelle Surprise: J Sainsbury agrees 161p a share takeover bid for Home Retail Group

I see J Sainsbury and Home Retail Group have effectively agreed a deal that will see the latter taken out for 161p a share by the FTSE 100 company. Here is the link: