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Sir Jim Ratcliffe’s Ineos strongly linked with takeover of Team Sky

“Team Sky remained tight-lipped on Friday as reports of a possible takeover by petrochemicals giant INEOS gathered pace” writes Tom Cary for telegraph.co.uk. Team Sky have also been investigating a possible deal with a Colombian state-owned oil company.If the deal does happen, Team Sky will certainly not be short of financial muscle.Reports of a possible deal first surfaced earlier this month. Source: telegraph.co.uk

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Cineworld eyes starring role in FTSE 100 in wake of blockbuster US deal

“Cineworld is targeting a spot in the FTSE 100 after hailing the success of its blockbuster takeover of US chain Regal” writes Charlie Taylor-kroll for telegraph.co.uk. Mooky Greidinger, chief executive, insisted Cineworld’s £2.7bn acquisition had “exceeded expectations” with annual pre-tax profit more than doubling.Cost savings last year of $70m from the deal exceeded expectations of $45m, while synergies this year will be $50m higher than the $100m previously guided.Cineworld shares rose more than 6pc, putting it on the cusp of the blue-chip index. Source: telegraph.co.uk

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Exclusive: EDP readies sale of electricity generation assets in Portugal – sources

“European utilities have been forced to change business models by an increasing shift to renewable energy sources” writes Midwest Communications Inc for 95kqds.com. EDP owns wind energy subsidiary EDPR, which manages operating assets in 11 countries and is also the target of CTG’s takeover plan.The move comes after activist investor Elliott launched a campaign to try to thwart CTG’s takeover proposal, which EDP has described as too low.LONDON/LISBON (Reuters) – EDP-Energia de Portugal is working on a plan to sell some of its electricity generation assets in Portugal, three sources…

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WorldFirst’s CurrencyVue Takeover Signals B2B Payments Push

“In a press release, WorldFirst announced it has acquired Australia-based CurrencyVue, a takeover that WorldFirst said will help expand its cross-border trade and payments solution for businesses” reports pymnts.com. The takeover will see WorldFirst integrate CurrencyVue’s platform into its own offering, linking small business clients to a solution that combines global payments with tools to assess and manage their FX exposures.CurrencyVue offers a foreign exchange risk management platform that integrates with companies’ existing ERP and accounting systems. Source: pymnts.com

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Sports Direct triggers takeover bid for discount retailer Findel

“Mike Ashley’s Sports Direct has triggered a takeover bid for Findel after announcing a deal to buy another chunk of shares in the online retailer” writes Tom Stevenson for telegraph.co.uk. A company is required to make a takeover bid when it has a stake of more than 30pc.Shares in Findel jumped 8pc to 175p following the announcement, valuing the company at £151m, suggesting Sports Direct may have to raise its offer.The tracksuit tycoon’s company was already the biggest investor in Findel and its purchase of six million shares from a single…

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News Stocks 

Newmont Mining rejects Barrick Gold’s $17.8 billion hostile-takeover bid

“Public gold miners as tracked by the VanEck Gold Miners ETF have jumped 11% over the last three months” writes Rebecca Ungarino for businessinsider.com. Barrick Gold is buying Randgold for $6 billion in stock to create the world’s largest gold miner Barrick Gold proposes merger with Newmont Mining to create the ‘world’s best gold company’. Newmont Mining’s board of directors on Monday rejected Barrick Gold’s $17.8 billion hostile takeover bid.The offer would have created the world’s largest gold producer.The two companies created the world’s largest gold miner. Source: businessinsider.com

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Tradeshift Ends Basware M&A Talks, Partners With TransferMate

“Finland-based eInvoicing and B2B payments firm Basware has announced to shareholders that discussions about a possible acquisition by supply chain payments firm Tradeshift have ended” reports pymnts.com. News of the decision came on the same day that Tradeshift announced a partnership with TransferMate to enhance cross-border payment capabilities.At the time, Basware said it was awaiting confirmation that Tradeshift had the financing in place to move forward with the acquisition, and noted there was no guarantee the takeover would occur. Source: pymnts.com

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Navient rejects $3.2 billion takeover bid from Canyon Capital and Platinum Equity

“Student-loan servicer Navient has rejected a $3.2 billion takeover bid from two investors as it believes the offer undervalues the company” writes unknown author for cnbc.com. Navients board voted on Monday to reject the $12.50 per share offer from hedge fund Canyon Capital Advisors and private-equity firm Platinum Equity Advisors. Navient said it would consider any proposal in the future if it reflected the fair value of the company.The offer represents a 6.6 percent premium over Navients Friday closing price of $11.73 a share.The $12.50 per share offer was surprisingly…

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Markets News 

Chinese phones now account for a third of the European market, with Huawei leading the way

“The US administration is causing Chinese companies to invest in Europe over the US. The European market is mature, and replacement rates have lengthened, but there is an opportunity for Chinese brands to displace the market incumbents” writes Feb Est for theverge.com. Despite — and to some extent, perhaps because of the United States’ current antipathy to Huawei and other Chinese brands — China’s smartphone leaders are finding great success elsewhere.The latest figures from market analysts Canalys have quantified a trend that many of us might have sensed in 2018:…

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Virgin Media considering takeover of Hull’s KCOM

“Virgin Media is exploring what would be a historic takeover of KCOM, the monopoly telecoms provider in Hull, in an attempt to accelerate its network expansion programme” writes Ben Marlow for telegraph.co.uk. The cable operator, controlled by US billionaire John Malone, is considering a bid to add KCOM’s 200,000 “full-fibre” broadband lines to its network, according to multiple sources.Virgin Media could yet decide not to make a bid for KCOM, sources said. Source: telegraph.co.uk

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