Acquisitions Monthly articles from December 2000

Acquisitions Monthly archives from December 2000

Central and Eastern European M&A is hotting up. (Overview).
December 1, 2000... Growth in M&A activity in the Czech Republic, Hungary and Poland has reached unprecedented levels showing a huge 53% leap in the first half of 2000 compared with the same period in 1999, according to a survey by PricewaterhouseCoopers (PwC)....

Lasmo's farewell to independence: independents may be flourishing in the US, but in Europe, particularly the UK, Amerada Hess's recent 2.4bn [pounds sterling] takeover of Lasmo has signalled a possible deletion of smaller, independent E&P companies. (News).(London and Scottish Marine Oil PLC)
December 1, 2000... It was the lack of good shareholder returns that led to the recent demise of one of the UK's last remaining independents, Lasmo. The exploration and production (E&P) company, which saw off a bid from rival independent Enterprise six years ago,...

Barracuda devours Ambishus. (News).(Barracuda Group and Ambishus Pub Company)(Brief Article)
December 1, 2000... Barracuda Group has revealed plans to acquire Ambishus Pub Company for 335m [pounds sterling]. The deal follows hard on the heels of the buy-in vehicle's 50m [pounds sterling] acquisition of 35 "managed houses" from Enterprise Inns, part...

Cazenove--the new house: as one historic city institution announces its intended flotation, Jonathan Isaacs talks to Cazenove co-head of investment banking Robert Pickering about acquisition prospects. (News).
December 1, 2000... The decision of the partners of Cazenove Co, the 177 year-old stockbroker to the Queen, to incorporate and come to the stock market in 2002 is, for some City observers, merely a method of raising equity. For others it is the prelude to another...

BPI strengthens defence.(British Polythene Industries PLC)(Brief Article)
December 1, 2000... In a bid to fend off a takeover offer from Macfarlane, the board of British Polythene Industries (BPI) has proposed to return up to 35.4m [pounds sterling] to company shareholders, through a tender offer to buy back 30% of BPI's issued shares...

Valenciana improves global stance.(Compania Valencia de Cementos Portland SA acquires Southdown Inc.)(Brief Article)
December 1, 2000... The US$2.8bn acquisition by Spain's largest cement company, Compania Valenciana de Cementos Portland SA, of Southdown Inc--a US cement company--has improved the position of its subsidiary, Cemex SA de CV, already the third largest cement firm...

Liberty International spins-off fund manager.(Brief Article)
December 1, 2000... Liberty International has revealed its plans to sell Liberty International Jersey, an offshore fund manager, to Liberty Group, the South African life assurance group, for 33.5m [pounds sterling] in cash. Completion of the disposal, advised...

Far from OK!(Northern Shell acquires Daily Express)(Brief Article)
December 1, 2000... The Daily Express, the newspaper group that in its day ruled Fleet Street, has been handed over to Northern & Shell, publisher of such titles as Asian Babes, Women on Top and celebrity weekly OK!, for just 125m [pounds sterling]. Stocks in...

SP Mergers' merger.(Brief Article)
December 1, 2000... London-based M&A boutique SP Mergers has agreed to affiliate with independent US investment banking firm Peter J. Solomon Company (PJSC). The affiliation, under an agreement signed at the end of November, will allow the two firms to co-operate...

Nomura dishes out 2.3bn [pounds sterling] for German flats. (News).(Brief Article)
December 1, 2000... Nomura's Principal Finance Group is set to secure one of Europe's largest private equity deals by leading a consortium that is to pay 2.33bn [pounds sterling] for 114,000 German flats. The deal, with German railway company Deutsche Bahn, is...

Share option schemes discourage new economy. (News).
December 1, 2000... The government's treatment of employee share incentive plans is causing dissatisfaction among half of technology, media and telecoms (TMT) companies and discouraging the new economy, says a report from City law firm Taylor Joynson Garrett (TJG)...

Too hot to handle: as the European heating sector continues to consolidate, a merger between boiler companies warms deal flow up to boiling point. (News).
December 1, 2000... Some of the biggest names in British boilers are coming together in a merger which will create one of Europe's biggest heating groups. Baxi Holdings and Newmond are merging to create a 750m [pounds sterling]-turnover heating group, which...

Caipirinha all round: Spanish BSCH has agreed a US$3.6bn bid for Banespa in a deal that will create Brazil's third largest private bank. (News).
December 1, 2000... Spain's Banco Santander Central Hispano (BSCH) believes it has reason to toast this month following its recent decision to acquire a 33% stake in Brazil's Banco do Estado de Sao Paulo (Banespa). But investors have stepped back to watch before...

CSFB exodus. (Movers).
December 1, 2000... Credit Suisse First Boston has seen an exodus of top Donaldson Lufkin & Jenrette bankers to rivals such as Bear Stearns & Co and Salomon Smith Barney, following the closing of the CSFB/DLJ merger on November 3. Among the most prominent of...

Two new recruits at CSFB. (Movers).(Andrew Bracey and Klaus-Dieter Scheurle appointments to Credit Suisse First Boston)(Brief Article)
December 1, 2000... Despite the continuing high level departures at the US investment bank, CSFB has been successful in carrying out two important appointments this month. Andrew Bracey has joined Credit Suisse First Boston as director and head of the...

Commerzbank reaches 30 goal. (Movers).(Commerzbank Securities appoints James Williams, Nicholas Legh, Claus Mansfeldt )(Brief Article)
December 1, 2000... November also saw the appointments of 13 new M&A/Private Equity figures at Commerzbank Securities. The recent appointments follow the earlier decision of Omar Bayoumi, co-head of the investment bank's M&A department, to expand the division to...

Merrill Lynch steals legal executive. (Movers).(George Bilicic appointment; Shearson Lehman Brothers Inc. Lehman Brothers Div.; Morgan Stanley Dean Witter and Co.)(Brief Article)
December 1, 2000... Continuing the recent trend of US investment banks seeking senior executives outside the banking arena, Merrill Lynch has hired George Bilicic from law firm Cravath, Swaine & Moore. Bilicic joins as managing director in the company's M&A...

DrKB adds to Benelux team. (Movers).(Dresdner Kleinwort Benson appoints Marc de Fraiture)(Brief Article)
December 1, 2000... With the aim of expanding its coverage in the active Benelux market, Dresdner Kleinwort Benson, the investment division of Dresdner Bank AG, has appointed Dutch national Marc de Fraiture as a new director of the Benelux team of global corporate...

WestLB appoints new French head. (Movers).(WestLB Panmure appoints Gerard Sander)(Brief Article)
December 1, 2000... As part of its continuing efforts to strengthen its position in the French corporate financing market, WestLB Panmure has hired French national Gerard Sander as head of M&A and business development for France. Before joining WestLB, Sander...

Arthur Anderson expands French corporate finance team. (Accountancy).(Brief Article)
December 1, 2000... In a move that will strengthen its growing presence in France, Arthur Anderson Corporate Finance has made six new appointments in its Paris office. The new hires include four bankers from Societe Generale: Alain Maillet, Marie-Anne Nemeth,...

Baker Tilly develops in South-West. (Accountancy).(Jeff Berry appointment )(Brief Article)
December 1, 2000... Baker Tilly has recruited Jeff Berry from KPMG to its Bristol office. Berry joins as corporate finance partner with responsibility for developing and the leading the firm's corporate finance practice in the south-west and south Wales. ...

CGSH expands Asian practice. (Lawyers).(Cleary Gottlieb Steen & Hamilton)(Brief Article)
December 1, 2000... In a recent attempt to expand its presence in Asia, Cleary Gottlieb Steen & Hamilton has announced the relocation of four partners, three from New York and two from London, to Hong Kong and Tokyo. Tsenemasa Terai and Steven L Wilner will...

White & Case boosts Moscow office. (Lawyers).(Marc Polonsky and Maxim Levinson appointments)(Brief Article)
December 1, 2000... Meanwhile, White & Case has boosted its Moscow office with the appointment of Marc Polonsky from Freshfields Bruckhaus Deringer. Polonsky joins White & Case as an M&A partner after working in Moscow for two years specialising in the oil and...

Levitt leaves things be: after much costly investigation, the US SEC will continue to permit accountants' M&A practices. (Legal and Regulatory report).
December 1, 2000... Top UK accountancy firms say it is "business as usual" as regards their US M&A advisory services, after a crucial ruling from Arthur Levitt's Securities and Exchange Commission appeared largely to retain the status quo. Levitt had...

'Strong case' for global antitrust body. (Legal and Regulatory report).
December 1, 2000... European and US antitrust authorities have come a step closer to forming a global competition body after positive statements from both sides. In the latest development, European Competition Commissioner Mario Monti said in a recent speech...

Defensive stance on Euro takeover roles: a committee at the European parliament wants to make it easier for companies to use takeover defences, threatening to delay the long-awaited takeover directive. (Legal and Regulatory report).(Brief Article)
December 1, 2000... Europe's takeover rules are threatening to take a step backwards as a parliamentary committee moves to incorporate provisions for defences such as "poison pills" into the new takeover directive. The European Parliament's legal affairs...

Tough going for takeovers. (Legal and Regulatory report).
December 1, 2000... New research from PricewaterhouseCoopers shows that European mergers are getting harder to get past the competition authorities--and that many companies are not well enough prepared to tackle such issues. PwC's transaction services team is...

Portugal in hot water: Lisbon is ticked off again by the European commission for unfairly blocking takeover bids. (Legal and Regulatory report).(Brief Article)
December 1, 2000... Portugal acted illegally when it blocked a takeover bid for cement company Cimpor, according to a recent ruling by the European Commission. The bid, worth about E4.5bn, was made by Secil of Portugal and Holderbank of Switzerland this...

Corporate financiers unfazed by Data Protection Act: corporate advisers do not appear to be troubled by the recently implemented data protection act, Natasha Berg investigates the effects of this act on mergers and acquisitions. (Legal and Regulatory report).
December 1, 2000... The latest draft of the Data Protection Act 1998, which came into effect in the UK on March 1 2000, does not appear to be cause for concern for corporate financial professionals, according to one legal adviser. Emma Gibson, partner at...

Munich deal gives SJ Berwin venture capital piece in our time. (Legal and Regulatory report).
December 1, 2000... SJ Berwin is expanding its German private equity capability by opening an office in Munich and boosting its presence in Berlin. The law firm has hired two partners from Baker & McKenzie's Munich office, who will set up the Munich operation,...

Pressure hits telecoms sector: Europe's sky high 3G licences are driving a continued trend towards consolidation in the telecoms sector. (TMT sector report).
December 1, 2000... It was one small deal for British Telecom, and one giant embarrassment for the Swiss government. On November 13, BT began a 10bn [pounds sterling] disposal progamme by selling its 34% stake in Switzerland's Sunrise Communications for 460m...

LSE bid sees OM bomb: after the failure of OM Gruppen's bid for LSE, speculation mounts as to who else could be likely partner for London's exchange, with Nasdaq and Euronext top of the list. (FIG sector report).(OM Gruppen AB and the London Stock Exchange)
December 1, 2000... LSE The inevitable failure of Swedish technology group OM Gruppen's bid to acquire the London Stock Exchange (LSE) finally took place on November 10, when just 6.7% of shareholders accepted the proposal. OM's bid had been mired in...

Iberian Energy goes pan-European: Spanish Endesa's recent announcement that it is to acquire Iberola exemplifies the growing tendency of European governments to think in terms of a pan-Europe market. (Utilities sector report).
December 1, 2000... The battle for control of Spain's energy market has been the dominant M&A story in the utility sector over the last month, as the biggest in the sector vie to become the country's main player in the looming single European market. The...

Behind the buyouts. (Buyouts News).
December 1, 2000... Overview The marketplace is bustling with activity and for the ninth year running average deal size has increased in the UK--a trend that looks set to continue into the New Year. But as polarisation in the market has widened the gap...

HSBC private equity goes round the bend: in an acquisition that keeps together the four divisions of integrated plumbing services group Caradon, HSBC private equity sees unique possibilities for adding value. (Buyout of the month: Caradon Plumbing Services).
December 1, 2000... Plumbing is not a trade that usually gives rise to a 440m [pounds sterling] acquisition, but the case of Caradon is different. When Phillip Goodwin at HSBC Private Equity acquired Caradon's plumbing division Caradon Plumbing Services (CPS), he...

Wind of change at SP. (Behind the buyouts).
December 1, 2000... Wind farms are known to be noisy, and they are making more noise than usual this month with the 50m [pounds sterling] MBO of advanced composite materials manufacturer SP Systems from its Nasdaq-listed owner Zoltek Companies Inc. Close...

Busy Bees stings Copperbeech. (Behind the buyouts).(day nurseries acquisition)(Brief Article)
December 1, 2000... Childcare facilities group Busy Bees is continuing to strengthen its position in the rapidly expanding nursery services market with the acquisition of the Copperbeech Group, which runs day nurseries in the northern home counties. The...

Personal care group values privacy. (Behind the buyouts).(Peter Black Holdings PLC)(Brief Article)
December 1, 2000... Many mid-sized firms outside the higher profile sectors have battled with low valuations this year, resulting in a series of management buyouts. The latest company to return to the private sector is Peter Black Holdings. The UK personal...

Aberdeen Murray Johnstone Private Equity plans funds launch. (Behind the buyouts).(Brief Article)
December 1, 2000... The Aberdeen Group's newly branded private equity arm, Aberdeen Murray Johnstone Private Equity, has revealed that it plans to launch two new funds to widen its range of product offerings. The funds--Venture Capital Trust (VCT) and Limited...

Back to school for Barclays. (Behind the buyouts).
December 1, 2000... Venture capitalists appear to have been swotting up on the educational market this month. November saw Barclays Private Equity back the management buyout of GLS Dudley, the specialist educational supplier, from Dudley UK Ltd. The deal is valued...

ABN AMRO Capital hires announced. (Buyout movers).(Andrew Moye and Paul Moxon)(Brief Article)
December 1, 2000... ABN AMRO Capital, the UK venture capital arm of ABN AMRO, has announced two new senior appointments for its private equity team. Andrew Moye joins as director from Albemarle Private Equity (formerly Brown Shipley Venture Managers), where he...

Lehman snatches HSBC financial sponsors head. (Buyout movers).(Shearson Lehman Brothers Inc. Lehman Brothers Div. hires Sally Collier)(Brief Article)
December 1, 2000... Lehman Brothers has made all all-time steal by luring head of financial sponsors team Sally Collier from HSBC Investment Bank. Collier joins as an executive director in its European financial sponsors coverage team. At HSBC she worked...

JP Morgan leading leverage finance role. (Buyout movers).(J.P. Morgan Chase and Co. appoints Tom Walker)(Brief Article)
December 1, 2000... JP Morgan has made its most senior appointment in its European leveraged finance business to date. November saw the hiring of Tom Walker as European head of financial sponsor coverage at the bank. Walker joins from Chase's New York...

Mercury builds pan-Europe sector team. (Buyout movers).(Brief Article)
December 1, 2000... As part of its continuing efforts to build a pan-Europe sector team, London-based Mercury Private Equity has hired Walter Berger for its Frankfurt office. Walter joins as director from Frieberger Compound Materials GmbH, a high-tech...

New face in General Atlantic. (Buyout movers).(Brief Article)
December 1, 2000... With the aim of developing' its global telecommunications strategy, London-based private equity firm General Altantic Partners has appointed Klaus Esser, former chairman of the executive board of Mannesmann. Esser joins as partner and will...

Barclays Private Equity to sell Dealerfield. (Buyouts News).(Brief Article)
December 1, 2000... Barclays Private Equity has revealed plans to sell Dealerfield and Colour Library Direct to Kleeneze PLC for more than 40m [pounds sterling]. The deal is the realisation of an investment in Dealerfield, undertaken by Barclays Private...

Candover and Legal & General Ventures in holiday haven: Candover and Legal & General ventures are the latest private equity groups to seek comfort in the domestic holiday market with their recent leveraged acquisition of rank's holiday division. (Behind the buyouts).
December 1, 2000... While the nation packs away its buckets and spades to proceed with the festive season, private equity groups are preparing themselves for a short break in the domestic holiday market. Candover and Legal & General Ventures have backed privately...

Ascot's engineering breaks away. (Buyouts News).
December 1, 2000... The 45.6m [pounds sterling] management buyout of four Ascot PLC engineering companies that had been under discussion since March 2000 was finalised in the last week of October 2000. Led by the automotive industrialist John Grant and backed by...

Symmetricon loses its antenna. (Buyouts News).(Brief Article)
December 1, 2000... Management at Sarantel Ltd has completed a 6m [pounds sterling] buyout from Symmetricon UK Ltd. Sarantel was the antennas division of Symmetricon, until the US parent company decided to sell its non-core operations in the UK. With 5m [pounds...

Personal touch in a perfumery buyout. (Behind the buyouts).(Woods of Windsor Ltd.)
December 1, 2000... Woods of Windsor, the perfumes and bath products company that began as a pharmacy back in 1770, has been the subject of a management buyout. Roger Knowles and his wife Kathleen acquired the pharmacy in 1970 and have devoted their lives to...

Barclays strikes oil. (Behind the buyouts).
December 1, 2000... In early November, Barclays Private Equity (BPE) acquired a controlling stake in CRP Group Ltd for 120m [pounds sterling]. Addleshaw Booth & Co, led by corporate finance specialist Jim Tully, advised BPE in the deal. CRP, a...

Oil firms slick in dash for gas: consolidation in the oil and gas industry is close to reaching saturation point and with gas markets set to provide a valuable growth platform over the coming decades, energy companies are tipped to take a less traditional M&A route. (Oil and Gas sector focus).
December 1, 2000... Over the last two years there has been landmark consolidation activity in the oil and gas sector. Just as big oil appeared to be getting smaller, the industry was gripped by change as a result of the 1998 price crash, the need to provide...

Cleaning up: as legislative pressures increase and social attitudes shift in favour of tougher regulations, environmental due diligence consultants are finding that they are in high demand. (Environmental Due Diligence).
December 1, 2000... The environmental due diligence (EDD) market is buoyant, thanks to high levels of both domestic and cross-border M&A activity, increased political and social emphasis on environmental issues, and the threat of more stringent legislation. ...

Realising commercial opportunities: Jim Finnamore and Mike Atkinson discuss two novel approaches by WSP Environmental to due diligence, which seek to exploit the commercial opportunities presented by environmental issues. (Sponsored Statement).
December 1, 2000... Future environmental risk exposures present both challenges and opportunities to businesses. Despite their effect on financial performance and returns on investment, future risks are rarely assessed in any great detail during transactions. ...

French M&A leaps the borders: although the Mega deals seen last year have been less in evidence in 2000, the French M&A market continues to provide many attractions, with French companies particularly keen to consider targets beyond their national boundaries. (Focus on French M&A).
December 1, 2000... French M&A advisers continue to see la vie en rose--deal-flow continues to provide plenty of work, corporate disposals are still proving a solid source of activity, and private equity is making an increasing impact on the market. In terms...

Australia proves itself to be a mine of opportunity: the cheap Australian dollar is proving tempting to overseas buyers who are increasingly targeting the country. (Focus on Australia and New Zealand).
December 1, 2000... There has been record activity in Australian M&A throughout 2000. Takeovers in the first half rose by more than 70% over the same period in 1999 and overseas companies now account for a quarter of all buyers. "The low Australian dollar has...

East Midlands small talk: small-scale M&A activity in the East Midlands has in recent years seen considerably high levels of growth, but the larger players continue to refer work down to the corporate financiers based in London, Natasha Berg reviews some of this year's headline-grabbing news in the region. (East Midlands Focus).
December 1, 2000... The East Midlands has finally emerged from the depths of forests like Sherwood in the Robin Hood legend, having seen an increase in small-scale M&A activity. But the struggle to participate in the UK's giant deals continues. Beneath the...

Bank of Scotland. (Sponsorship statement).
December 1, 2000... As the UK market leader in management buyout and acquisition finance, Bank of Scotland (BoS) has already enjoyed tremendous success through its Structured Finance team based in Birmingham. In late 1999 the bank set up Structured Finance teams...

Alstec ready for take-off: David Macdonald discusses the 53m [pounds sterling] buyout of the engineering company Alstec--which installed the baggage handling equipment at Heathrow's terminals 1, 2 and 3. (Sponsored Article).
December 1, 2000... The level of corporate finance activity in the East Midlands during the last 12 months has been high--and the region's professionals have pulled-off a variety of high profile transactions. A prime example is the 53m [pounds sterling]...

The European buyout gold rush: how long will it last--and which banks will be the winners? (Sponsored Article).
December 1, 2000... This survey is the latest in a series of reports on the buyout market produced by DLA. DLA is a leading UK law firm with a European network of partnerships and associations, D&P. The firm has an established banking practice. The aim of this...

European cross-border deals climb: North American deals predominate. (M&A Data).(Brief Article)
December 1, 2000... Total European deals declined in value in December from US$63.67bn to $44.23bn, but increased in number from 810 to 836. The most significant month-on-month change was the plunge in the value of domestic European deals contrasted against the...

Benelux. (Acquisitions in Europe).
December 1, 2000... BENELUX Target Axxicon Group NETHERLANDS --MANUFACTURE DIE CASTING TOOLS Sales ($): 67.60m Net Profits ($): 2.40m Bidder Mikron Technology Group SWITZERLAND --MANUFACTURE TELEPHONY, TECHNICAL...

France. (Europe).
December 1, 2000... FRANCE Target Azeo FRANCE 42.1% --INVESTMENT HOLDING COMPANY Sales ($): 129.80m Net Profits ($): 88.80m Bidder Lazard Freres FRANCE --BANK; HOLDING COMPANY Sales ($): 81.50m Announcement...

Germany. (Europe).
December 1, 2000... GERMANY Target Kloeckner-Werke GERMANY 75% --MANUFACTURE PLASTIC, STEEL PRODUCTS Sales ($): 2,311.20m Net Profits ($): 122.30m Bidder WCM Beteiligungs GERMANY --PROVIDE BUILDING RENTAL SERVICES ...

Italy. (Europe).(Brief Article)
December 1, 2000... ITALY Target Banca Carime ITALY 75% --BANK Sales ($): n/a Net Profits ($): n/a Bidder Banca Popolare Commercio e Industria ITALY --BANK Sales ($): 586.10m Announcement date: 21-Nov-00 ...

Nordic. (Europe).
December 1, 2000... NORDIC Target Akerf Maritime-Marine Seismic Activities NORWAY --PROVIDE MARINE SEISMIC SERVICES Sales ($): n/a Net Profits ($): n/a Bidder Cie Generale de Geophysique FRANCE --PROVIDE...

Spain and Portugal. (UK Publics).
December 1, 2000... SPAIN AND PORTUGAL Target Colep Portugal PORTUGAL 54.2% --MANUFACTURE, WHOLESALE METAL, PLASTIC CANS Sales ($): 112.00m Net Profits ($): 7.40m Bidder RAR Sociedade De Controle PORTUGAL --INVESTMENT...

New bids for UK public companies. (UK Publics).
December 1, 2000... Definitions: N/A--Not available EPS(p)--Earnings per share, in pence, as reported by the company at the most recent accounting year end. Net Assets/Share(p)--Net assets per share, in pence, excluding intangibles, minority...

Pending bids for UK public companies. (UK Publics).
December 1, 2000... PENDING BIDS FOR UK PUBLIC COMPANIES Target Bernard Matthews 57.8% --PRODUCE TURKEYS, TURKEY EGGS Financial Adviser--Dresdner Kleinwort Benson Target Lawyer--Slaughter & May ...

Completed bids for UK public companies. (UK Publics).
December 1, 2000... Target Ash & Lacy --OWN AND OPERATE BOILER SHOPS Financial Lawyer--Williams de Broe Target Lawyer--Martineau Johnson Year End Income EPS(S) Net Assets/ ...

Completed acquisitions of UK private companies. (UK Privates).
December 1, 2000... The UK Private section comprises transactions with a UK target, with no listing, and with no corporate divestor. Deals are announced within the month and are completed. Previously (October 1998 issue and earlier) this section would have...

UK divestments.
December 1, 2000... Target Wittington Investments --WHOLESALE, PRODUCE GROCERIES SUB/DIV SOLD: BURTON'S BISCUITS--Manufacture biscuits Bidder Hicks Muse Tate & Furst --LEVERAGED BUYOUT FIRM Announcement date: 30-Oct-00 Value: 130.00m...

Domestic North America acquisitions.
December 1, 2000... Target About.com UNITED STATES --PROVIDE INTERNET SEARCH ENGINE SERVICES Sales ($): 56.80m Net Profits ($): -54.50m Bidder PRIMEDIA UNITED STATES --PUBLISHING COMPANY Sales ($): 1,708.60m Announcement...

European acquisitions in North America. (Europe in North America).
December 1, 2000... Target Agilent Technologies--Healthcare Solutions Group UNITED STATES --PROVIDE MEDICAL/HEALTH SERVICES Sales ($): 1500.0m Net Profits ($): 1.1m Bidder Koninklijke Philips Electronic UNITED STATES...

European acquisitions in Latin America. (Europe in Latin America).(Brief Article)
December 1, 2000... Target Chilectra CHILE 27% --ELECTRIC UTILITY Sales ($): 502.30m Net Profits ($): 134.40m Bidder Endesa SPAIN --ELECTRIC UTILITY Sales ($): 4,882.90m Announcement date: 07-Nov-00 Value ($): 374.60m...

Significant stakes.
December 1, 2000... This section lists international acquisitions of significant stakes in companies between 29.9% and 49.9%, possibly with a view to obtaining control. Situations concerned with the acquisition of significant stakes are sometimes addressed by...

Monthly sector analysis. (Sector).
December 1, 2000... MONTHLY SECTOR ANALYSIS The sector analysis includes acquisitions and buyouts announced between October 27 and November 24, 2000. UK public offers completed between these dates are included whereas new and pending offers are excluded....

Seeking the middle ground in Europe: building a European presence is the name of the game in the mid-markets at the moment--and there is an increasing US presence in the sector as well. (Mid-markets overview).
December 1, 2000... Mid-market deals are increasingly acquiring a European flavour as the Continent's mid-cap companies strive to establish an international presence. Up to the beginning of November 2000, some 900 mid-market deals involving a European target or...

Rich pickings among public-to-privates: the Turkeys get bigger every Christmas, and the take-privates are following suit--with the latest being Turkey-terminator extraordinaire Bernard Matthews. (Mid-markets overview).
December 1, 2000... Bigger is "bootiful" when it comes to public-to-privates in 2000, as the recent turkey-fight over 'the 134m [pounds sterling] take-private of Bernard Matthews demonstrates. Take-privates now provide a substantial proportion of mid-market...

Far from the cross-selling crowd: John Llewellyn-Lloyd talks about the opportunities and challenges facing mid-market companies and their advisers. (Sponsored Article).(Interview)
December 1, 2000... How do you define 'mid-market' in terms of the companies you are targeting? "Our clients are typically fast-growing businesses with flat management structures, a relatively small number of people in the core management group and limited,...

The attractions of a niche approach: Nigel McConnell looks at opportunities in the European mid-market and explains the advantages of a niche approach. (Sponsored Article).
December 1, 2000... Polarisation in the European private equity market--with mega-MBOs at one end and early stage, 'new economy' investments at the other--has left the middle-ground presenting good opportunities for value investors seeking 'old economy'...

Going private is not the only option: as the number of companies quitting the UK stock market soars, many would do better to restructure in the public markets. (Sponsored Article).
December 1, 2000... What started as a trickle has turned to a flood. In the mid-1990s, a few lowly rated small to medium-sized 'old economy' companies started to exit the stock market. Over the following years their number has grown. And, in the first half of...

Close Brothers. (Sponsorship statement).
December 1, 2000... Close Brothers Corporate Finance (UK) is a member of Close Brothers Group plc, the UK's largest independent investment bank. Headquartered in London, it employs over 90 professional staff and focuses on providing specialist advice to growth...

M&A International Inc. (Sponsored statement).
December 1, 2000... M&A International Inc is the world's largest network of independent M&A advisers. It specialises exclusively in the middle market and as such is in an unrivalled position to provide both local and global services to its clients in this sector....