Quentin's Feed
Nov 12, 2010

Misys targets fund managers with $600mln Sophis buy

LONDON, Nov 12 (Reuters) – Britain’s Misys (MSY.L: Quote, Profile, Research, Stock Buzz) is buying
Dublin-based Sophis for 375 million pound ($606 million) to
boost its capital markets software business, adding more
investor clients such as asset managers and hedge funds.

The purchase, from private equity firm Advent International,
will see Misys use its global reach to sell Sophis systems into
high-growth Asian and Middle Eastern markets, and should boost
Misys’s earnings per share (EPS) by at least one-quarter.

Nov 10, 2010

Lawyers, PRs join bankers in UK M&A fees spotlight

LONDON, Nov 10 (Reuters) – Changes to Britain’s takeover
rules will throw light on the millions of pounds in legal,
accounting and public relations fees charged by firms such as
Clifford Chance, Deloitte, and Brunswick Group.

Fees paid to banks for advice, funding, and corporate
broking can run into the tens or hundreds of millions of pounds
and have long drawn criticism. They make up the majority of deal
fees, but there can be a string of smaller bills to pay.

Nov 8, 2010

Doughty Hanson to buy Vue, No. 3 UK cinema chain

LONDON, Nov 8 (Reuters) – Private equity firm Doughty
Hanson [DOUHA.UL] agreed to buy Vue Entertainment [VUENT.UL],
Britain’s third-biggest cinema chain, in a deal that a source
said valued the business at about 450 million pounds ($728
million).

Doughty Hanson is betting digital movies, including a new
generation of 3D films from such directors as Steven Spielberg
and James Cameron, will help Vue keep growing, despite
Britain’s competitive cinema market.

Nov 1, 2010

M&A deals are all in a code name

LONDON (Reuters) – Animals, chemicals, and astronomical phenomena have disguised some of 2010′s takeovers, and dealmakers may have to come up with more aliases to keep their plans secret as mergers and acquisitions (M&A) accelerate.

Speaking in code is nothing new in a world of “bear hugs,” “poison pills,” and “white knights” but the colourful terms are an important guard against leaks that could torpedo a deal or facilitate insider trading.

Nov 1, 2010

M&A code names make Kraft “Krypton”, EDF “Eclipse”

LONDON (Reuters) – Animals, chemicals, and astronomical phenomena have disguised some of 2010′s takeovers, and dealmakers may have to come up with more aliases to keep their plans secret as mergers and acquisitions (M&A) accelerate.

Speaking in code is nothing new in a world of “bear hugs,” “poison pills,” and “white knights” but the colorful terms are an important guard against leaks that could torpedo a deal or facilitate insider trading.

Nov 1, 2010

M&A code names make Kraft ‘Krypton’, EDF ‘Eclipse’

LONDON, Nov 1 (Reuters) – Animals, chemicals, and
astronomical phenomena have disguised some of 2010′s takeovers,
and dealmakers may have to come up with more aliases to keep
their plans secret as mergers and acquisitions (M&A) accelerate.

Speaking in code is nothing new in a world of “bear hugs”,
“poison pills”, and “white knights” but the colourful terms are
an important guard against leaks that could torpedo a deal or
facilitate insider trading.

Oct 29, 2010

Goldman, M.Stanley, Allianz in UK rail bids: sources

AMSTERDAM/LONDON (Reuters) – Bid teams based around Eurotunnel and Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz), Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz), German insurer Allianz (ALVG.DE: Quote, Profile, Research, Stock Buzz) and two Ontario pension funds offered to buy Britain’s only high-speed rail route, sources said.

The four teams are vying to run the 186-mph (300km per hour) route from London to the Channel Tunnel, known as High Speed 1 and which market sources say could fetch 2 billion pounds ($3.2 billion).

Oct 29, 2010

Allianz and partners to make fast-rail bid – sources

AMSTERDAM/LONDON (Reuters) – German insurer Allianz (ALVG.DE: Quote, Profile, Research) has tapped Britain’s largest private pension fund and one that invests the pensions of Canada’s Mounties to make a joint bid for Britain’s sole high-speed railway, sources said.

Final bids were due on Friday for the 186-mph (300km per hour) route from London to the Channel Tunnel, which is known as High Speed 1 and could fetch 2 billion pounds.

Oct 29, 2010

Allianz, partners to make UK fast-rail bid-sources

AMSTERDAM/LONDON, Oct 29 (Reuters) – German insurer Allianz
(ALVG.DE: Quote, Profile, Research, Stock Buzz) has tapped Britain’s largest private pension fund and
one that invests the pensions of Canada’s Mounties police to
make a joint bid for Britain’s sole high-speed railway, sources
said.

Allianz has formed a consortium with BT (BT.L: Quote, Profile, Research, Stock Buzz) Pension
Scheme and Canada’s Public Sector Pension Investment Board
(PSP), which manages civil-service pensions, to submit a bid for
High Speed 1, two sources familiar with the matter said.

Oct 27, 2010

Cleaning giant ISS explores new LBO – sources

LONDON, Oct 27 (Reuters) – Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) and Sweden’s
EQT (EQT.N: Quote, Profile, Research, Stock Buzz) are exploring selling ISS [ISSHOI.UL] [ISSFN.UL],
their $7 billion Danish cleaning giant to fresh private equity
investors, sources said, in what could be Europe’s biggest
buyout since the credit crisis.

People familiar with the matter said the duo, wich are
officially considering “strategic options” including a listing
of ISS, have been in contact with major private equity firms and
banks about a possible deal.

    • About Quentin

      "Quentin Webb is a Reuters Breakingviews columnist, covering mergers and acquisitions, corporate finance and private equity. He is based in London. Before becoming a columnist, he was a news reporter for Reuters, where he was most recently European M&A correspondent. He has also worked as a correspondent in Brussels and as a credit-markets reporter. He joined Reuters in 2003 from Legalease, a legal publisher. He has a first-class degree in psychology from University College London."
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