By: William Turvill

I write about M&A, deals, IPOs, private equity, asset management, media and a few other areas for CityAM I also write news features and am always interested in interviewing and profiling high-profile business figures. I previously worked for Press Gazette and Mail Online.

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China Merchants Group makes informal bid for London’s Baltic Exchange, according to sources

March 16, 2016

China Merchants Group has made an informal bid for London’s Baltic Exchange, according to sources. It emerged in February that the Baltic Exchange, a financial maritime hub located in the heart of Canada, was being eyed by several companies, including the Singapore Exchange, CME Group, Intercontinental Exchange (ICE), and Platts. And now [...]
Budget 2016: Higher rate income threshold to be raised to £45,000 and personal allowance to £11,500

March 16, 2016

The higher rate income tax threshold will rise to £45,000 next year, George Osborne said today. And the chancellor announced in his Budget an increase in the personal allowance threshold to £11,500 from April next year. The higher rate income threshold is currently £42,385 and is due to rise this year to £43,000. It will [...]
Budget 2016: George Osborne reveals richest one per cent of taxpayers paid 28 per cent of income tax in 2013/14

March 16, 2016

A higher proportion of income tax came from the richest one per cent of taxpayers in 2013/14 than in any other year over the last two decades, chancellor George Osborne said today. In his Budget, published today, Osborne highlighted figures from HMRC showing that those in the highest income tax band contributed 28 per cent of the [...]
Budget 2016: Treasury confirms plans to offload Bradford and Bingley loans as part of state-owned assets sell-off

March 16, 2016

George Osborne today confirmed plans to offload £16bn of Bradford and Bingley (B&B) loans. The Treasury's Budget 2016 document also laid out plans to sell off several other state-owned assets, including Lloyds Banking Group shares and its Royal Bank of Scotland (RBS) holding. The chancellor expects to raise £25bn from RBS by the end of 2019-20. In addition, [...]
Budget 2016: Government confirms plans to consult on privatisation of Land Registry, with Advent International and others interested

March 16, 2016

George Osborne today confirmed plans to privatise the Land Registry. The proposed sale was announced by the chancellor in his Budget, delivered this afternoon. CityAM understands buyout firm Advent International and others are considering bids for the agency, which has previously been valued at £1.2bn. Read more: Firms consider bidding for £1.2bn-valued Land Registry The Budget [...]
Eat and London Luton Airport investor agrees sale of 46.7 per cent stake in Italian healthcare operator for £230m

March 16, 2016

Private investment company Ardian has sold its near-half stake in an Italian healthcare and residential care home operator for €292m (£230m). Ardian’s 46.7 per cent stake in KOS has been sold to CIR-Compagnie Industriali Riunite S.p.A. and F2i. Ardian, whose other investments include restaurant chain Eat and London Luton Airport, acquired the stake in 2010. Read more: Ardian closes [...]
Share price of Aim-listed Forbidden Technologies rises sharply after company announces new Microsoft deal

March 16, 2016

The share price of Forbidden Technologies rose sharply this morning after the company announced a new deal with Microsoft. The company, which is listed on the London Stock Exchange's alternative investment market (Aim), closed at 9.2p yesterday. And the price reached peaks of 14.75p – up around 60 per cent – at just after 8am. [...]
Pharmaceutical companies Vectura and Skyepharma announce £441.3m merger

March 16, 2016

Pharmaceutical companies Vectura and Skyepharma have reached an agreement over a merger. Under the agreement, announced this morning, Skyepharma’s shareholders will receive 2.7977 Vectura shares for each of their current shares. Based on Vectura’s closing share price, 146.6p, this values Skyepharma at £441.3m, or 410.15p per share. Read more: Fever pitch: Pharma mega-deal puts global M&A [...]
Global finance M&A activity in 2016 hits seven-year high, with London Stock Exchange deal pushing UK to top of sector

March 15, 2016

Global finance mergers and acquisitions (M&A) activity is at its highest year-to-date level since 2009, according to new figures. And the UK has been the leading nation for finance-targeted M&A so far in 2016, according to Dealogic. Between 1 January and 14 March this year, the volume of reported finance-targeted M&A has been $56.2bn (£39.6bn). [...]
Sony agrees $750m deal with Michael Jackson’s estate for his 50 per cent stake in joint music publishing venture

March 15, 2016

Sony has agreed a deal to pay Michael Jackson's estate $750m (£529m) for his share of a joint music publishing venture. The late pop star held a 50 per cent stake in Sony ATV Music Publishing as part of a business partnership dating back to 1995. The deal means Sony now has the rights to around three million [...]

Fed Chair Kevin Warsh steps into market spotlight with debut interest rate decision

Knicks NBA finals win over Spurs smashes broadcasting records

Old Pulteney releases 50-year-old whisky for 200th anniversary

By: William Turvill

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