Cobham Mission Systems sold off by private equity owner
A US company has agreed to buy a division of Cobham for $2.8 billion after the contentious sale of the aerospace group to a private equity firm last year. Eaton Corp is acquiring Cobham Mission Systems (CMS), which makes air-to-air refuelling equipment. Cobham, founded in 1934, was itself bought by Advent International for £4 billion […]
TSB sale remains on table after it suffers £200m loss
TSB swung into the red last year as the bank was hit by the impact of the coronavirus pandemic. The loss of £204.6 million was a sharp reversal on a £46 million profit in 2019 and came as TSB took £90.6 million in restructuring charges, while impairments rose to £164 million from £60.5 million previously. […]
Clayton, Dubilier & Rice completes Wolseley UK acquisition
Clayton, Dubilier & Rice has completed the previously announced acquisition of Wolseley UK, a leading specialist distributor of plumbing, heating, climate control, pipe and infrastructure & utility products in the United Kingdom, from Ferguson plc. The carve-out transaction, valued at GBP308 million, establishes Wolseley as an independent company, to be wholly-owned by management and CD&R […]
India’s Future likens Amazon’s bid to stall retail deal to ‘ruthless’ Alexander the Great
NEW DELHI (Reuters) – Amazon.com Inc’s bid to stall Future Group’s $3.4 billion retail assets sale is similar to Alexander the Great’s “ruthless ambition to scorch the earth”, the Indian group’s CEO Kishore Biyani said in an internal staff memo seen by Reuters. Amazon, locked in protracted legal disputes with Future, alleges the Indian firm […]
Thyssenkrupp CEO says Liberty Steel bid needs clarification
FRANKFURT (Reuters) – A bid which Britain’s Liberty Steel submitted for Thyssenkrupp’s steel division in January must be clarified in ongoing talks between the two firms, the German group’s chief executive said. The bid still contains “a number of complex aspects that require further clarification”, Martina Merz said in a speech prepared for the group’s […]
EU to rule on Microsoft’s $7.5 billion ZeniMax deal by March 5
EU antitrust regulators will decide by March 5 whether to clear Microsoft’s $7.5 billion acquisition of ZeniMax Media, the U.S. tech giant’s biggest gaming acquisition to better compete with Sony Corp’s PlayStation. Microsoft requested European Commission approval for the deal on Jan. 29, a filing on the EU executive’s website showed. The EU competition enforcer […]
BP sells $2.6bn stake in Oman gas block to Thailand’s PTT
Disposal is part of $25bn divestment plan as oil major seeks funds to invest in clean energy BP has agreed to sell a 20 per cent stake in an Oman gas block for $2.6bn to Thailand’s national oil company PTT as part of the UK energy major’s $25bn divestment programme. After the sale, which is […]
Britain’s ASOS scoops up prized Arcadia brands for 265 million pounds
LONDON (Reuters) – ASOS has bought the Topshop, Topman, Miss Selfridge and HIIT brands from the administrators of Philip Green’s collapsed Arcadia group for 265 million pounds ($364 million), the British online fashion retailer said on Monday. The deal for Arcadia’s prized brands, which will be fully funded from cash reserves, does not include its […]
JD Sports to buy U.S.-based DTLR Villa for $495 million
(Reuters) – Britain’s biggest sportswear retailer JD Sports Fashion said on Monday it had entered a conditional agreement to buy Baltimore-based DTLR Villa LLC for $495 million. The acquisition is JD’s second one in the United States in less than two months after it bought Shoe Palace in December, as the retailer expands its business […]
Playboy nears deal to buy sexual wellness chain Lovers
(Reuters) – Playboy Enterprises Inc is nearing a deal to acquire the parent company of sexual wellness chain Lovers as it seeks to grow its lifestyle brand following the shuttering of its eponymous magazine, people familiar with the matter said on Sunday. The acquisition marks Playboy’s latest effort to leverage its famous rabbit silhouette logo […]
