Hints and tips:
...faces legal action over unpaid wages (FT) Manchester City: club’s finances look better in black than red (Lex) *Corrects an earlier version which misstated the number of new partners named....
...The group’s shareholders should gear up for a fight with Silver Lake and Emanuel, Lex argues....
...If the new owner can sell out at 15 times ebitda multiple — the multiple it is currently offering — the deal would net them a three times return on the equity invested over five years....
...Last year, Bluebell lost a campaign to shake up the board of Richemont, the owner of Cartier and Van Cleef & Arpels, adding to pressure its billionaire founder Johann Rupert has faced from funds such as...
...Their new owners can afford to be patient, having paid modest valuations with little debt service required. The handful of very large private equity firms have fund sizes now that approach $30bn....
...suffers shareholder revolt over pay and appointments (FT) HSBC/SVB: franchise value matters as much to bank rescuers as assets (Lex)...
...The FT’s Lex column is sceptical of revenue synergies....
...Internal Greensill documents relating to the General Atlantic loan say Lex Greensill was the “relationship owner” and describe the deal as a chance for the now-collapsed group to “strengthen its relationship...
...The asset manager snatched Westinghouse at an enterprise value of $4.6bn in a 2018 auction following the bankruptcy of owner Toshiba....
...Finback was considering buying a stake in Gideon Cyber Systems LLC, according to the term sheet....
...As their notoriety and value rose, more owners began to use these digital certificates as collateral for crypto loans....
...Autonomous driving group Mobileye’s bright start as a public company on Wednesday, therefore, will have been a great relief for majority owner Intel and the bankers at Goldman Sachs and Morgan Stanley who...
...Facebook owner Meta is opening up its natural language model to mitigate bias and toxicity....
...But market tumult and the war in Ukraine made competing bids from Asda owner the Issa brothers and rival private equity groups less certain....
...Google owner Alphabet may be the king of online ads. But it is still punching below its weight when it comes to cloud computing. To compete, Google thinks cyber security is key....
...In an otherwise ordinary phone call between Thoma Bravo executives and the chief executive of Anaplan in May, the company told its future owners that it would need to pay out $137mn in employee bonuses,...
...Pearson has largely squandered the proceeds of recent asset sales, Lex writes....
...Lawrence Stroll, the company’s chair and owner, decried that the change was needed for the next chapter in a turnround that he hopes will rekindle Aston’s fortunes and bring it within touching distance of...
...It must boost valuations and shake its dinosaur image, or risk extinction, Lex writes....
...Apple Pay Later will be serviced through a wholly owned subsidiary, Apple Financing LLC. Lex assesses the risks. 2....
...A juicy bone awaits if the new owners succeed in ratcheting up growth and, further down the line, exit at an equivalent valuation....
...It got an extra boost from bored phone owners during the pandemic. Taking commissions on in-app payments is a lucrative business for Google and Apple, which dominate the app economy in many countries....
...In a letter to investors last month, it said a $10bn fund could theoretically be used to buy 2 per cent of ByteDance, the owner of TikTok, without making any other investments....
...The Lex team is interested in hearing more from readers. Please tell us what you think of Silver Lake’s interest in the All Blacks in the comments section below....
...Job moves TSB chair Richard Meddings has announced he will resign from the bank’s board later this year, after its Spanish owner Sabadell postponed plans to sell the British bank. More here....
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