Deal watch news, updates and analysis | Page 1 of 17

The Telegraph and The Spectator are no longer up for auction after Abu Dhabi-backed RedBird IMI helped the Barclay family repay its £1.2bn debt to Lloyds Banking Group.

Lloyds placed Telegraph Media Group’s Bermuda-based holding company B.UK into receivership over the unpaid debt in May. AlixPartners was appointed as receiver and Aidan and Howard Barclay were removed as directors of TMG and The Spectator. Continue reading “Dealwatch: Telegraph auction off as Barclay brothers pay off Lloyds debt with loan”

Despite the inevitable slowdown in the spring following Russia’s invasion of Ukraine, deal activity rebounded over the summer with an unusually busy August. Latham & Watkins, Kirkland & Ellis and the magic circle were among the firms taking the lead on billion-pound private equity, energy and tech deals.

Latham advised EIG on its $4.8bn acquisition of a 25% stake in Repsol Upstream, a newly formed global exploration and production company comprising the entire global upstream oil and gas business of Spanish energy company Repsol. Continue reading “Deal Watch: activity powers on as Latham and A&O lead on $19bn energy joint venture”

While it could hardly be said to have slowed down over summer, the deal market has nevertheless ramped up since the beginning of September with easyJet’s £1.2bn rights issue and Caesars’ £2.2bn disposal of William Hill’s international business among the more high-profile recent transactions.

Latham & Watkins and Linklaters won lead roles as 888 Holdings agreed to acquire the international business – the non-US assets – of William Hill at an enterprise value of £2.2bn. Continue reading “Dealwatch: Latham and Linklaters bet on £2.2bn William Hill disposal as £1.2bn easyJet rights issue flies”

Innovative, Covid-driven transactions have continued to emerge in recent months, with the first working week of 2021 proving no exception. As many embark on ‘Veganuary’ after the meaty excesses of the holiday season, a timely deal has been the acquisition by LIVEKINDLY Collective, a collection of plant-based food companies, of No Meat, Iceland Foods’ vegan meat alternative company.

Also topical, given the increasing challenges to mental health imposed by the pandemic, is a deal that sees Acadia Healthcare Company sell its UK business – which operates as The Priory Group – to Waterland Private Equity for £1.08bn. Continue reading “Dealwatch: Sign of the times for advisers on Priory Group and vegan foods deals”

News over the weekend of AstraZeneca’s $39bn deal to acquire Alexion Pharmaceuticals has capped off the 2020 pharma boom in style with what has been touted as the largest acquisition of a US target company and the largest acquisition financing of the year.

Elsewhere, advisers benefited from another big-ticket transaction as the bidding war for security services company G4S ramped up with a bid from Allied Universal, and an equity valuation of £3.8bn.  Continue reading “Dealwatch: $39bn AstraZeneca deal caps off pharma boom year as advisers secure roles on G4S bidding war”