April 2023 - As asset allocators, we are used to the market’s occasional reminder that it is more than ready to teach humility to any over-confident, prediction-laden investors. So, it is with a healthy lack of certainty that we confront the range of plausible routes...
RHI Magnesita on Wednesday said it had bought German firm Dalmia GSB Refractories for €13m in cash. Bochum-based DGSB supplies monolithic lances and other precast products to European steel customers for use in the desulphurisation and homogenisation of molten steel....
BP and Abu Dhabi National Oil Co (ADNOC) have made a $4bn offer to buy 50% of Israeli offshore natural gas producer NewMed Energy and take it private. The offer would see the duo acquiring NewMed's free floating shares as they plan to form a joint venture "focused on...
Halma said it had bought FirePro, a manufacturer of aerosol-based fire suppression systems, for €150m (£132m) on a cash- and debt-free basis. FirePro's unaudited revenue for the 12 months to December 31 was €23.3m, with return on sales more than double Halma's target...
The UK's competition regulator is looking into whether the acquisition by Électricité de France of General Electric's nuclear steam power business could lead to competition concerns. The Competition and Markets Authority has called for feedback from interested parties...
WPP on Wednesday said it had bought influencer marketing agency Goat for an undisclosed sum. Founded in 2015, Goat specialises in data-led end-to-end influencer marketing campaigns and has worked with Dell, Beiersdorf, Meta, Tesco, Uber, EA, Natura and Augustinus...
Shares of First Republic Bank were bouncing back following reports that US bank chiefs were in discussions over a new rescue plan to stabilise the lender. The talks, first reported by The Wall Street Journal, were said to be at a preliminary stage and to revolve...
UBS agreed to acquire rival lender Credit Suisse for approximately $3.25bn in an all-share transaction. As part of the deal, Switzerland's central bank would make available a 100bn Swiss franc liquidity line to UBS. Under the terms of the agreement, should UBS incur...
UBS agreed to acquire rival lender Credit Suisse for more than $2bn in an all-share transaction. According to the Financial Times, the agreement might be signed as soon as Sunday evening. People with direct knowledge of the transaction cited by the FT also said that...
UBS Group asked Swiss authorities for a backstop against future risks in case it acquired troubled rival Credit Suisse. People familiar with the matter told Bloomberg one probable scenario would see UBS take over Credit Suisse's wealth and asset management units, but...
WPP said it had bought German public relations agency 3K Agentur für Kommunikation (3K) for an undisclosed sum. The company will become part of the Hill+Knowlton Strategies (H+K) global network, strengthening its healthcare presence in Europe and expanding its...
UK renewables income fund Bluefield Solar has bought a 46.4 megawatt solar portfolio from North America's Fengate Asset Management. Bluefield said the enterprise value of the portfolio is £56m, including the economic benefit of all cashflows from May 2022. The...
Electronics maker discoverIE Group said it had bought US-based Magnasphere Corporation for $22m (£19.1m). Magnasphere makes magnetic sensors and switches for industrial electronic applications. DiscoverIE said the acquisition is expected to be immediately accretive to...
International distribution group Bunzl said it was selling its UK healthcare division to Mediq and buying four other businesses. The transactions are expected to be profit neutral to the group and will generate a small cash inflow. No financial details were disclosed....
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