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...The letter from the bondholders’ advisers — law firm Akin Gump and investment bank Jefferies — cites “press reports” that they said raised the prospect of a “material impairment” of the debt that they hold...
...Jefferies chief executive Rich Handler has sold $65mn of his stock in the Wall Street investment bank to buy a luxury yacht from longtime client Tilman Fertitta....
...Jefferies said Handler, 62, was using the cash to buy a boat and pay tax obligations....
...Mondi has not provided details on the cost savings from a tie-up. Jefferies puts these at £350mn annually or some 4 per cent of DS Smith’s sales....
...You are being given a second chance to buy duration at a much better yield level than four months ago. Chance of rate rises: zero. Chances of rate cut this year, of some magnitude:99 per cent....
...Joe LeahyIt just seems inevitable that this year is gonna be a big year for trade tensions. Jessica SmithI’m Jess Smith and here’s the news you need to start your day....
...Keel, a former 3M and General Electric executive, joined London-headquartered Smiths in May 2021....
...Analysts at Jefferies have previously estimated that an offer in the 270p to 300p per share range would have “a higher likelihood of being accepted . . . and would be more in line with recent M&A valuations...
...Led by pension funds and endowments, big investors sold 99 per cent of their private equity holdings at or below their net asset value on the secondary market last year, according to Jefferies, the most...
...Jefferies again (from 2021): [Mondi + DS Smith] would create the European #1 containerboard & box producer with >€2.5bn pro-forma EBITDA....
...Analysts at Jefferies said the potential tie-up “makes sense”, arguing that Ageas and Direct Line’s combined share of the UK insurance market would be likely to provide cost savings but without worrying...
...those at Jefferies....
...We start the week with a scoop on the growing clamour for a 24/7 New York bourse....
...Alphabet’s first-quarter revenue jumped 15 per cent, buoyed by a rise in earnings across its main business lines, and the company announced its first-ever dividend of 20 cents a share alongside a $70bn stock...
...Brussels has raided a Chinese security equipment supplier, deploying new anti-foreign subsidy powers in a move that will further inflame tensions between Brussels and Beijing ahead of a planned visit by...
...tale in a large-scale mural....
...Sotheby’s is looking to borrow $500mn for three years* against a pool of loans it provides to filthy rich art collectors, through a new securitisation vehicle the auction house has dubbed ArtFi....
...US-based International Paper has agreed to buy UK rival DS Smith in a deal valued at £7.8bn, the companies said on Tuesday....
...Hill & Smith has lauded the performance of its US businesses, describing a “standout performance in composites and electrical utility”....
...As much as Mamet is a sucker for a trick, he also relishes eavesdropping on a trick of the trade....
...US-based International Paper has agreed to buy UK competitor DS Smith in a £7.8bn deal, trumping a bid from London-listed Mondi as consolidation across the paper and packaging industry accelerates....
...Instead, in the event of an insolvency, debt in the securitisation is secured on claims from the proceeds of a sale to a suitable owner....
...On average, only a quarter of these economic losses at EU countries are insured, leaving a huge so-called “protection gap”....
...Instead, the debt is secured on claims from the proceeds of a sale to a suitable owner....
...The announcement comes after rival Mondi reached an agreement in principle for a takeover of DS Smith earlier this month....
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