Top of the market? - part 3

Equity, high yield debt and corporate bond markets might be tumbling today but there is one asset class that is flirting with levels not seen since the great credit boom of the mid-noughties - leveraged loans.

I'm hearing that some of the recent private equity deals, such as KKR's £900 million takeover of Government Chemist LGC, are being done on some pretty racy debt/leveraged loan multiples.

Quelle surprise: Bridgepoint sells former Government Chemist LGC

I'm glad to see Bridgepoint, the UK-based private equity firm, has finally confirmed it's sold LGC to US buy-out giant KKR.

Now, I'm not necessarily pleased for Bridgepoint, who I'm sure has made a ton of cash from its investment in LGC (from what I recall LGC was privatised for £3 million but the private equity firm was expected to sell it for between £700 million and £900 million). It's just good to see one of my stories - that was denied to me at the time of publication by the parties involved - has finally been confirmed.

Informa said to be sniffing around Top Right Group

FTSE 250-listed Informa, the publisher of Lloyd's List, has been studying a £1 billion takeover of Top Right Group, the publishing, data and events company backed by the Guardian Media Group.

According to well-placed sources, Informa recently expressed an interest in Top Right Group, publisher of several well-known trade magazines such as Retail Week.

Top of the market? - part 1

Enough is enough - it's time to start a "top of the market" series.

Why? Because there was another clear sign today (in my humble opinion) that UK is in the midst of a raging bull market, which normally means the economy is peaking (give or take eighteen months).

Something afoot with Boots

I have been in two minds about publishing this piece but I have now run into a bit of a brick wall, so I have decided I may as well go with what I know.

Last week a good source hinted to me that there may be something untoward going on with Alliance Boots's debt.