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...The US arm of accounting firm Grant Thornton has agreed to sell a majority stake to the investment group New Mountain Capital, in the largest of a wave of private equity deals that are reshaping the sector...
...Its notable deals include the advertising agency Young and Rubicam in 1996 and the wealth manager LPL Financial and business advisory group AlixPartners about a decade later....
...GMO’s head of Japan equities Drew Edwards said in the letter, seen by the Financial Times, that recent scandals were “just one symptom of a larger problem of broken corporate governance and culture at TIC...
...KPMG sold the insolvency and restructuring business to private equity group HIG Capital in 2021....
...The Financial Times last week asked Apollo about its billing practices after the appeals court ruling....
...Most of the deals were in the energy, tech and financial sectors, according to data from the London Stock Exchange Group....
...This included scrapping the investment management deal, which the Financial Times reported last year. At the time, Credit Suisse said a change to the contract would lead to a $600mn loss for the bank....
...Dechert has hired Brian Miner as a partner in its corporate and securities practice group. He joins from Schulte Roth & Zabel, where he co-chaired its M&A and securities group....
...A wave of insurance brokerages including Hub Group and Integrity Marketing Group have taken private equity cash....
...He accused AARC of causing “damage” and weakening Ted Baker’s financial position. AARC could not be immediately contacted for comment....
...Ant’s efforts to expand its financial empire have been slowed since then. It was hit by a regulatory crackdown in late 2020 when its $37bn initial public offering was derailed....
...All three groups declined to comment....
...In his absence, we have a world-class line-up of Financial Times journos, including Katie Martin on the bull case for dividends....
...John Hinshaw....
...Belgian Prime Minister Alexander De Croo told the Financial Times that the EU must wean itself off Russian nuclear fuel “as fast as possible” to stop Moscow using revenues to fund its war chest....
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...Rasulo was previously Disney’s chief financial officer....
...TCI and Pershing Square are the youngest funds on the list, competing with older groups such as Millennium and Citadel, which were founded in 1989 and 1990 respectively....
Search group now accepts advertising for crypto funds but still bans marketing of initial coin offerings
...Waymo told the Financial Times that it had “a couple of hundred cars” in each of the three fully autonomous zones....
...The deal “would lead to additional grocery price hikes for everyday goods, further exacerbating the financial strain consumers across the country face today”, he said....
...The valuation of the rest of the S&P A week or two ago, we wrote a piece implying that the Magnificent Seven tech stocks were not, as a group, in a bubble....
...ISS said the board had tried to justify the increase in Botín’s pay by pointing to the group’s strong results and shareholder returns, as well as the need to stay competitive with rivals....
...“The receptivity to bank M&A of size has not been high in this administration,” said Brian Graham, partner at financial services advisory firm Klaros Group....
...The US private equity group controls just over 70 per cent of Endeavour’s voting rights....
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