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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21st Century Fox £12bn takeover of Sky has been referred to regulators Ofcom and the CMA by culture secretary Karen Bradley

March 16, 2017

The bid by Rupert Murdoch's 21st Century Fox to take over Sky has been referred to regulators by the culture secretary. Karen Bradley confirmed her decision this morning after already announcing she was “minded” to do so. Broadcast regulator Ofcom will examine “public interest considerations” and the Competition and Markets Authority (CMA) “jurisdiction issues”. Read more: Sky takeover [...]
Intercontinental Exchange could push back London clearing launch as it seeks to assert gold dominance

March 15, 2017

Intercontinental Exchange (ICE) could push back the launch of clearing for London’s gold price auction as it seeks to get all participants on board. The New York Stock Exchange owner was set to go live with its clearing plans at the end of this month. But CityAM understands the launch could now be put [...]
Shareholder group Pirc hits back at Sports Direct’s “fake news” allegations

March 15, 2017

A shareholder advisory group has hit back at Sports Direct after the retailer accused it of pushing out “fake news” figures on high pay ratios. Pensions and Investment Research Consultants (Pirc) also claimed Sports Direct had sight of the contested figures in 2015 and made “no response on the detail”. Read more: Revealed: The highest and [...]
AT&T wins European Commission approval for $85bn Time Warner deal but faces battle in the US

March 15, 2017

US telecoms giant AT&T has won European Commission approval for its $85bn (£70bn) takeover deal for Time Warner. “We appreciate the skilled work of the European Commission’s team for their timely effort to analyse and clear the AT&T-Time Warner merger,” said Bob Quinn, senior executive vice president of AT&T external and legislative sffairs. Read more: [...]
Wealth manager Brooks Macdonald reports growth despite “really terrible” period after Brexit vote

March 15, 2017

Wealth manager Brooks Macdonald today reported growth in funds under management (FUM), revenues and profits, despite a “really terrible” period after the EU referendum. The figures Discretionary FUM were £9.3bn at the end of 2016, up 19 per cent on 2015. In the six months to 31 December, revenue came in at £45.3m, up 17 [...]
Activist investor Chris Hohn tells Safran chairman: Pull €8.5bn Zodiac deal or we’ll try to oust you

March 15, 2017

Chris Hohn’s activist hedge fund has called for a chairman to abandon a proposed €8.5bn (£7.4bn) takeover or face being ousted. The Children’s Investment (TCI) Fund has previously made clear its opposition to a deal under which French aircraft-engine maker Safran, in which it owns a 4.1 per cent stake, is due to buy plane [...]
These are the FTSE companies with the highest and lowest chief executive pay ratios

March 15, 2017

With AGM season around the corner, and remuneration set to be a top issue for investors, chief executive pay ratios could again be about to come under the microscope. And while the certain retailers could feel the heat, a number of City firms should be able to rest easy. Pensions & Investment Research Consultants (Pirc) has drawn [...]
Article 50, schmarticle 50: UK deal activity is booming, with a flurry of deals so far in 2017

March 14, 2017

The imminent triggering of Article 50 appears to be having no negative effect on UK mergers and acquisitions (M&A), with several major deals announced in recent weeks. New figures show British deal activity has been booming since the Brexit vote, and this year especially. This week’s Bovis bidding war, currently being fought by Galliford Try and [...]
Chris Hohn’s activist fund attacks Safran’s “enormously destructive” €8.5bn Zodiac takeover

March 14, 2017

Chris Hohn’s activist hedge fund has had another bite at French aircraft-engine maker Safran over a planned €8.5bn (£7.4bn) takeover. The Children’s Investment (TCI) Fund, which owns a 4.1 per cent stake in Safran, publicised its opposition to the deal for plane-seat maker Zodiac last month, saying it had “no strategic rationale”. Safran hit back shortly [...]
Ithaca Energy shareholder urges fellow investors to reject $1.2bn Delek takeover and hold out for better deal

March 14, 2017

A major shareholder in North Sea oil producer Ithaca Energy has issued a statement urging fellow investors to reject a $1.24bn (£1bn) takeover deal. Ithaca’s board accepted a bid from Delek Group, which is currently the company’s largest shareholder with a 19.7 per cent stake, in February. The deal values Ithaca’s share value at $646m and [...]

Rolls-Royce shares surge as SMR unit bags multi-billion pound Swedish nuclear contract

Royal Ascot worth £140m to UK economy

The best places to eat sandwiches in Lisbon, from bifanas to pregos

By: William Turvill

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