Mergers & Acquisitions - Mergers, Acquisitions & Flotations |
| | | Date | Headline | Summary | Organisation | Turnover | Profit | Employees | Locations |
|---|
| | 18 May 2012 | £61m disposal of VT Services - increase in profits and revenue | Babcock International has sold US defence business VT Services for £61m to VT Holdings Inc. VT Service was acquired as part of the takeover of VT Group in 2010 and does not fit with Babcocks strategy. Babcock recorded revenue of £3.1bn in 2011, compared with £2.7bn in 2010, while pre-tax profit increased from £216.7m to £274.1m. | | £2,756m | £158m | 27,588 | 1 |
| | 18 May 2012 | £6.7bn Coty bid withdrawn - business turnaround strategy | Coty has withdrawn its £6.7bn takeover bid for US-based Avon Products after Avon failed to meet its deadline to respond. Avon has recorded a substantial decline in sales and recently appointed chief executive Sheri McCoy will now make stabilising the business a priority. | | £329m | £4m | 1,774 | 14 |
| | 17 May 2012 | £516,000 loss recorded - acquisition - £10m fundraising | Cheshire-based Sterling Green Group recorded a loss after taxation for the year to March 2012 of £516,000, compared with £1.9m in 2011. The figure includes costs and losses of £344,000 relating to the disposal of its trading subsidiaries in December 2011. It is acquiring another company and is raising £10m through a share placing. | | £3m | £-0.2m | 53 | 2 |
| | 17 May 2012 | £2.5bn takeover bid - UK frozen food producer for sale | Surrey based British brand Birds Eye, owned by current private equity business Permira, has been the subject of a £2.5bn takeover bid by Thailands Charoen Pokphand Foods ,which has offices in Worcestershire and a factory in Newmarket, Suffolk. Rival offers have been made by private equity giants Blackstone and BC Partners. The bids are as a result of Birds Eye being put up for sale in March 2012. | | £55m | £32m | 75 | 1 |
| | 16 May 2012 | £18m investment - workforce to treble - acquired by BASF - new manufacturing facility | German chemical company BASF has acquired life sciences firm Equateq and is investing £18m to create a new manufacturing facility on the Isle of Lewis. In an agreement with the government, BASF is creating 90 jobs at the facility, expanding production of Omega 3 fatty acids. Equateqs 2010 turnover was £1.1m. | | £1m | £-0.8m | | 2 |
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