Hints and tips:
Buyout with Canada’s largest pension fund is expected to be one of biggest this year
...Before Gotham’s attack, SES shares had risen fivefold in five years....
Markets have changed their minds about high-growth, low-profit companies
Deal for survey software group would be one of largest this year
...Křetínský’s portfolio includes stakes in the UK’s Royal Mail, grocer J Sainsbury, and West Ham football club as well as German wholesaler Metro and US sneaker chain Foot Locker....
Private equity has minted fortunes in the sector
...Well, not Bill Gates per se, but his family office, Cascade. And not trash in the metaphorical sense of very speculative assets but actual, honest-to-God trash. Or trash management at least....
...However, grocers such as Kroger and Albertsons are under increasing pressure from the likes of Amazon, Walmart and Costco....
...In 2014, the portfolio of grocers, named Albertsons, acquired Safeway for $9.7bn, a deal it financed with nearly $8bn debt....
...The grocer’s board met on Saturday afternoon and unanimously recommended the revised offer....
...It’s the birthplace of a revolutionary idea that has pitted Norway’s AutoStore against online grocer Ocado in a bitter global patent fight with billions of dollars on the line....
Proposed deal to help seal €18bn Vonovia merger ‘unprecedented and legally questionable’, says US hedge fund
The purchase allows the German company to battle the tech titans on two fronts
...The 15 per cent shareholder, the grocer’s largest, is “not inclined” to support the 252p-a-share bid from a Fortress-led consortium, given there was “little” in the offer that Morrisons couldn’t manage on...
...That bid, a substantial increase from its initial 230p approach, has secured a recommendation from the grocer’s directors....
...Private equity interest in Morrisons first became public in June when the grocer said it had rejected an offer from CD&R....
...However, Fortress would have a 73 per cent stake in the company buying the grocer, it said....
Two deals are the latest in a series of media sector transactions
...Under the new deal, Fortress would own 65 per cent of a company set up to own the grocer, with Koch owning 22 per cent and GIC 13 per cent....
...A group of three private investment groups led by SoftBank-owned Fortress agreed a £9.5bn deal to acquire the grocer this month....
...As part of the agreement, the investors set out a series of commitments including plans to keep the grocer’s headquarters in Bradford....
...The founder’s son committed the company to low debts, high property ownership and a vertically integrated model in which the grocer produces half the fresh food it sells....
...The two companies involved — Atos IT Solutions and Services and Atos IT Outsourcing Services LLC — represented “about 11 per cent of consolidated turnover and about 9 per cent of consolidated operating margin...
Murdoch media group will bid against German company Bertelsmann
Investor exuberance should be tempered by SAP’s retention of a controlling stake
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