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Sep 24, 2010

FSA tells banks to crack down on M&A leaks

LONDON (Reuters) – Britain’s markets watchdog told investment banks to adopt “a much stricter culture” to prevent leaks to journalists about takeovers and other deals, and said it might impose new rules if nothing improves in a year.

The Financial Services Authority (FSA) said three years of investigations had found contact between banks and journalists was “generally poorly controlled” and media leaks often followed telephone conversations with senior deal insiders.

Sep 24, 2010

UK’s FSA tells banks to crack down on M&A leaks

LONDON (Reuters) – Britain’s markets watchdog told investment banks to adopt “a much stricter culture” to prevent leaks to journalists about takeovers and other deals, and said it might impose new rules if nothing improves in a year.

The Financial Services Authority (FSA) said three years of investigations had found contact between banks and journalists was “generally poorly controlled” and media leaks often followed telephone conversations with senior deal insiders.

Sep 24, 2010

BHP, Sanofi, CVC show financing revival aids M&A

LONDON/NEW YORK (Reuters) – Banks are more willing to lend for big takeovers by companies such as BHP Billiton Ltd (BLT.L: Quote, Profile, Research, Stock Buzz), Sanofi-Aventis SA (SASY.PA: Quote, Profile, Research, Stock Buzz) and CVC Capital Partners CVC.UL, and with borrowing cheap, would-be buyers are seizing the chance.

This means that sensible deals that were ruled out because financing was too scarce or costly may now return to the agenda, even if they run into the tens of billions of dollars.

Sep 23, 2010

DealTalk: Vue presents Cinema Buyout III: Will it be a hit?

LONDON (Reuters) – Like film studios, buyout shops seem fond of sequels.

The latest sees Vue seeking fresh private equity backers in a deal set to value Britain’s third-biggest cinema chain at 400 million pounds ($627 million) or more.

While at least six firms are circling, Vue chief executive Tim Richards will need to tell a gripping story about growth in a competitive and consolidated market.

Sep 23, 2010

Vue presents Cinema Buyout III: Will it be a hit?

LONDON, Sept 23 (Reuters) – Like film studios, buyout shops
seem fond of sequels.

The latest sees Vue seeking fresh private equity backers in
a deal set to value Britain’s third-biggest cinema chain at 400
million pounds ($627 million) or more.

Sep 22, 2010

Severstal plans London gold unit IPO -source

LONDON/MOSCOW, Sept 22 (Reuters) – Severstal (CHMF.MM: Quote, Profile, Research, Stock Buzz),
Russia’s largest steel producer, plans a fourth-quarter London
listing of its gold unit that would value the business at $4
billion plus, a person familiar with the matter said on
Wednesday.

The initial public offering (IPO) will help fund the unit’s
future expansion, both through deals and organic growth, and
will see Severstal (CHMFq.L: Quote, Profile, Research, Stock Buzz) retain a majority stake of roughly
65 to 70 percent stake.

Sep 21, 2010

Green light for sale of UK parking-ticket firm NSL

LONDON, Sept 21 (Reuters) – NSL, Britain’s biggest employer
of staff who write parking tickets and clamp cars, has set its
sights on further growth after owners 3i Group Plc (III.L: Quote, Profile, Research, Stock Buzz) sold
the firm in a 120 million pounds ($186 million) deal.

NSL provides “parking enforcement officers” to more than 50
municipal authorities — a job that like its police cousin, the
traffic warden, is often controversial because of the big fines
levied and the millions of pounds raised by local councils.

Sep 20, 2010

Amadeus selling online travel agent Opodo – sources

LONDON, Sept 20 (Reuters) – Spanish travel services group
Amadeus IT Holding SA (AMA.MC: Quote, Profile, Research, Stock Buzz) is seeking a buyer for its 74
percent stake in European online travel agent Opodo, three
people familiar with the matter said on Monday.

JPMorgan (JPM.N: Quote, Profile, Research, Stock Buzz) has been hired as an adviser, they said.

Sep 17, 2010

Sanofi board heavyweights may be key to Genzyme deal

PARIS/LONDON, Sept 17 (Reuters) – An oil major, a luxury
cosmetics company and independent directors including a former
astronaut will have a key say in what may be the next
multi-billion dollar merger to shake the global pharmaceutical
industry.

Sanofi-Aventis (SASY.PA: Quote, Profile, Research, Stock Buzz) Chief Executive Chris Viehbacher
wants to buy U.S. based Genzyme (GENZ.O: Quote, Profile, Research, Stock Buzz), which makes drugs to
treat rare diseases, for $18.5 billion, but may be forced to pay
more in the face of resistance from Genzyme. [ID:nLDE68F05Y]

Sep 16, 2010

CVC near $3.3 billion buy of Swiss telco Sunrise: sources

LONDON (Reuters) – TDC A/S, the private-equity backed Danish telephone company, is close to a deal to sell Swiss unit Sunrise to buyout firm CVC Capital Partners, four people familiar with the matter said on Thursday.

The deal will place an enterprise value on Sunrise of about 3.3 billion Swiss francs ($3.3 billion), two of the people said, making it one of the year’s largest leveraged buyouts (LBOs).

    • 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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