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...“We’ve in effect created two FTSE 100 companies,” Leahy added, explaining that B&M was a constituent of the UK large cap index and MFG probably would be if it was listed....
...We’re always engaged in conversations, but I’m challenging the team and myself to think more broadly and more openly about the opportunities we have.”...
...A former top investment banker at Centerview Partners did not strike a valid agreement to become a full-fledged partner at the elite advisory firm during a restaurant meeting held more than a decade ago,...
...US megadeals are slowly bringing M&A action back If a UK paper and packaging company is at the centre of a bidding war, then M&A must be back....
...I’m not talking about real dollars, meaning dollars adjusted for inflation....
...No mention of the B-word, then....
...He joins from Schulte Roth & Zabel, where he co-chaired its M&A and securities group....
...In contrast to some M&A, there can be room for both sides to think they are getting a marvellous deal....
...“I’m a front door sorta guy. I think it was effective and I’d do it again.”...
...But subordinating investment policy to tax minimisation is a choice, not a necessity....
...In this era, according to Group M, an individual’s day-to-day experiences — “their entertainment, search and shopping recommendations, and even their news digest” — will become “increasingly customised and...
...I’m pretty sure it can drive in any other city in the world,” he said. Current Baidu executives declined to be interviewed....
...“Everywhere you look in Saudi Arabia, you can see growth and progress and I’m excited to be part of that,” Nadal said....
...Heavier demand for syndicated loans helps investment banks compete with direct lenders on price....
...Which is why I’m sceptical much change happens....
...Companies rated single-B and below have $200bn in debt due in 2024-25 and about $1.1tn in 2024-28, and some dealmakers believe a wave of bankruptcies and firms turning over their investments to their lenders...
...“Banks are nervous to underwrite single-B credit with M&A timelines which could be six months of holding the risk,” said Lauren Basmadjian, co-head of liquid credit at Carlyle....
...I’m not sure of the market relevance of either point, but there you go. Email us: robert.armstrong@ft.com and ethan.wu@ft.com....
...I’m still slowly recovering from a very bad cold that I caught at the Mobile World Congress in Barcelona two weeks ago — but at least I’ve got my voice back!...
...It might apply to FTSE 100 members including IAG, Glencore and B&M (incorporated in Spain, Switzerland and Luxembourg respectively) but is unlikely to apply to Danish-listed Orsted or Getlink of France,...
...David Solomon, Goldman chief executive, described the operating conditions in 2023 as “not a B+ or an A environment” but expressed optimism for this year....
...I’m having a pause in which I re-read Percival Everett’s Erasure, the enjoyable novel that became the movie American Fiction, before diving into Herron’s standalone novels....
...The US Energy Information Administration estimates average prices of about $83/b for the year....
...Here, for example, are triple-B spreads (lowest rung of investment grade) and double-Bs (highest rung of junk): Ethan wrote about tight spreads six weeks ago, and concluded that, as crowded as the corporate...
...A few weeks earlier, Shiber had joined Centerview Partners, the elite boutique M&A investment bank, as a 21-year-old, first-year analyst....
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