Post Brexit M&A from the FT

If your interested in the prospects for dealmaking post the Brexit referendum this (click on the link below) piece from FT hacks is worth a read (if you pay for a subscription or can sidestep the paywall).

Enjoy: http://www.ft.com/cms/s/0/7eeb15a2-3dea-11e6-8716-a4a71e8140b0.html#axzz4CsoYi2Sd

When "old" becomes new news - part 2

Old deal stories that haven't made into the public domain yet are clearly becoming super fashionable in the mainstream business press.

Today the venerable Financial Times ran a piece about how a mid-level executive at Apple floated the idea of purchasing Time Warner in a meeting with another mid-level executive. Here is the link to the FT piece:

Quelle Surprise: Argus Media sold in £1 billion deal

Hat tip to Neil Hume over at the Financial Times for landing the final twist in the tale of the sale of Argus Media and congratulations to all the journalists who work at the information service as many will soon become multi-millionaires. Here is the link to Neil's story:

http://www.ft.com/cms/s/0/8646d45c-20d1-11e6-aa98-db1e01fabc0c.html#axzz49UVqPBH7

AAC Capital said to consider £100 million plus sale of Dunlop Aviation Tyres

The former buy-out arm of ABN Amro is weighing a £100 million plus sale of one of Britain's oldest manufacturing businesses.

City sources said AAC Capital, which used to be part of Dutch bank ABN Amro, asked corporate finance advisers to pitch for a sell side mandate a couple of years ago but up until now the private equity firm has waited for the right moment to begin the sale process.

Is Odey still bearish or turning bullish - part 2

Ping! An email arrives with the latest Odey Asset Management investor letter.

Whilst the fund's overall performance - down about 31pc since the beginning of the year to the middle of April - made headlines a couple of weeks ago in the venerable Financial Times, I can provide a bit of colour about where the old buffer has taken a hit in his flagship Odey European Fund.

Lenders to M6 appoint UBS to run sale process; teasers out

I turned up a little titbit on the M6 toll road situation whilst on the rounds today.

The banks that took control of M6 signalled a couple a months ago they are plotting a sale of the business after taking control of the motorway from Aussie infrastructure fund Macquarie. Here are links to a Financial Times article and BBC piece on the topic.

Weekend review on a Monday

My old mucker from my Telegraph days, James - "Quinny" - Quinn, had one of the best deal stories of the weekend after securing an on-the-record interview with Xavier Rolet, the boss of the London Stock Exchange.

Here is a link to Quinny's tale in the Sunday Telegraph about how the American exchanges would "slash and burn" the LSE:

That "own goal" gaffe

Much of the mainstream business press dubbed Mike Ashley's comments to The Times earlier this week as an "own goal" by the maverick entrepreneur and owner of Newcastle United (I'm pretty sure I saw at least two headlines containing "own goal").

That's because Sports Direct's shares tanked about 10pc (they are down another 3pc today) after Ashley spilled the beans to the intrepid hackette at The Times about a potential profit warning.

Mead Johnson said to be working with Lazard following takeover interest from European food giants

The Mead Johnson bid tale is back.

Readers who follow Mead Johnson Nutrition, the US-listed baby formula manufacturer, might have grown somewhat weary - and possibly sceptical - about this particular takeover bid story. That's because the tale goes around the market every couple of years but is either denied or just fades away with little activity to back it up.

Some Burberry clues...

Hat tip to the Financial Times. The newspaper broke a great story yesterday evening about Burberry hiring Robey Warshaw to defend the company after a mystery investor built up a stake in the clothing brand via HSBC. 

Here is the link:

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:

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

It looks like the "mega" consortium has won the £2 billion auction for London City airport. Well, that's what the Financial Times is reporting this evening. Here is the link:

http://www.ft.com/fastft/2016/02/25/ontario-teachers-fund-wins-2bn-race-for-london-city-aiport/

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:

Weekend review on Sky, Home Retail Group, J Sainsbury, Slater & Gordon, Royal Dutch Shell and BG Group.

There is plenty to reflect on in the British business press this weekend.

First off, I note that the Financial Times has done a reverse ferret of its position on whether wiley old Rupert Murdoch will have another run at Sky.

Irritating

If there is one thing that really irritates me it's being beaten to the punch by rival hacks on a story I had spent several days trying to stand up.

Yes, that does occasionally happen to me.

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

I have a little update on the sale of every City dealmakers' favourite airport.

Ever since news of the £2 billion sale of London City airport broke in the Financial Times this summer bidders have been circling the asset.

Sky's the limit

Here's an interesting piece from FT hack Matthew Garrahan:

http://www.ft.com/cms/s/e3f8dd10-99a0-11e5-9228-87e603d47bdc,Authorised=false.html?siteedition=uk&_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Fe3f8dd10-99a0-11e5-9228-87e603d47bdc.html%3Fsiteedition%3Duk&_i_referer=https%3A%2F%2Fwww.google.co.uk%2F6666cd76f96956469e7be39d750cc7d9&classification=conditional_standard&iab=barrier-app#axzz3t430nWgs

The accountant, the tax avoidance scheme and the magazine

I have a little yarn that might cheer up freelance readers struggling to get their paperwork ready for January's tax returns.

The tale involves Deloitte, the accountancy giant, a multi-million pound tax avoidance scheme known as Icebreaker and an article in Tax Advisor Magazine.

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

Argus Media Group, the publishing company that sets world energy prices, could be about to change hands for up to £1 billion.

According to well-placed sources, Argus Media Group has begun working with Bank of America Merrill Lynch on a strategic review and contacted some of the City's top private equity firms to gauge their interest in the company.

Tuesday review - part 2

I should have mentioned this piece from the Financial Times - http://www.ft.com/cms/s/0/3a26241c-81b0-11e5-8095-ed1a37d1e096.html#axzz3qQcDFYoP - in my earlier post.

It's bit of "old" news (the fact that Pfizer approached GlaxoSmithKline before Allergan) that hadn't made into the public domain. But as it has been shown here on little old Betaville, "old" news can often become "new" news, so in the right circumstances is definitely worth reporting. Hat tip, then, to the raft of FT hacks who discovered the "old" news.