Tag: deal

Report suggests pension age will have to rise to 70

Report suggests pension age will have to rise to 70

A report by accountants PricewaterhouseCoopers (PwC) has waned that the pension age may have to rise to 70 by 2046 in order to deal with Britain’s debts. Current plans introduced by the coalition Government will see the state pension age lifted to 66 for both men and women by 2020. The pension age will then [...]

July 6, 2011 | 0 Comments More
Capital One to buy ING in $9bn deal

Capital One to buy ING in $9bn deal

Capital One, renowned for its credit cards, is to purchase the US internet banking division of ING – the Dutch banking and insurance company. The deal will see Capital One pay $9 billion (£5.5 billion) in cash and shares - $6.2 billion in cash and the remainder in stock, in a move which will see [...]

June 17, 2011 | 0 Comments More
Struggling HMV secures future with refinancing agreement

Struggling HMV secures future with refinancing agreement

Shares in troubled music, books and games retailer HMV have risen today after it emerged that it has secured a new refinancing deal with its lenders. The deal, worth £220 million, will see the taxpayer taking a stake in the company. The group’s main lenders are taxpayer-backed Royal Bank of Scotland and Lloyds Banking Group. [...]

June 7, 2011 | 0 Comments More
BP continues with asset disposal to fund clean-up operation

BP continues with asset disposal to fund clean-up operation

Oil giant BP announced it has disposed of its 60% stake in Pan American Energy to Bridas Corporation in a deal worth $7 billion (£4.5 billion). The latest deal is part of the company’s asset selling plan, designed to fund the clean-up operation relating to the Gulf of Mexico oil disaster - estimated to be [...]

November 29, 2010 | 0 Comments More
HSBC in takeover talks with South Africa’s Nedbank

HSBC in takeover talks with South Africa’s Nedbank

Banking giant HSBC is in talks with South African insurer Old Mutual about acquiring a majority stake in Nedbank Group - South Africa’s fourth biggest bank. The media has speculated that the price could be around £4.5 billion for a 52% stake, in the latest in a series of assets Old Mutual has been forced [...]

August 23, 2010 | 0 Comments More
BT reaches pay deal with union

BT reaches pay deal with union

Telecoms giant BT has avoided strike action after reaching an agreement on pay with the Communication Workers Union (CWU). Workers were threatening strike action after senior executives were awarded huge bonuses which angered staff. However, a new deal, which the union has described as “fantastic” for its members resulted in a 2.3% rise in BT’s [...]

July 9, 2010 | 0 Comments More
Nationwide terminates England sponsorship deal

Nationwide terminates England sponsorship deal

Nationwide Building Society is to terminate its £20 million sponsorship deal of the England football team after 11 seasons. The announcement is a further blow to the England team and follows its early exit from the World Cup tournament. The Nationwide, which is Britain’s largest building society, said it submitted an offer to extend the [...]

July 5, 2010 | 0 Comments More
Travis Perkins agrees £557.6m deal with BSS Group

Travis Perkins agrees £557.6m deal with BSS Group

Builders’ merchant Travis Perkins is to buy BSS Group in a deal worth £557.6 million. According to Travis Perkins, which also runs the Wickes home improvements chain, the deal will create the UK’s leading plumbing and heating distribution business. The deal, which should be finalised in the fourth quarter, is made up of cash and [...]

July 5, 2010 | 0 Comments More
Prudential/AIA deal collapses

Prudential/AIA deal collapses

British insurance giant Prudential has abandoned its $35.5 billion (£24.6 billion) takeover of AIA, the Asian arm of US company American International Group (AIG). Several Prudential shareholders said they would not approve the takeover unless the Pru trimmed between $3 billion and $5 billion from the original price. Pru attempted to renegotiate the deal and [...]

June 2, 2010 | 0 Comments More
Hewlett-Packard announces thousands of job losses

Hewlett-Packard announces thousands of job losses

The world’s largest technology company by sales, Hewlett-Packard (HP), has today announced it is to reduce headcount by 9,000. The Palo Alto, California-based company said the job losses will be the result of productivity gains and automation, in order to provide “next-generation services” which will benefit clients. It said: “As a result of productivity gains [...]

June 1, 2010 | 0 Comments More
Prudential deal with AIA on verge of collapse

Prudential deal with AIA on verge of collapse

British insurance giant Prudential has failed to renegotiate the price of its takeover of AIA, the Asian arm of US company American International Group (AIG). The deal now looks set to collapse after AIA snubbed the lower price tag of $30.375 billion. It emerged last week that the Pru, which is Britain’s second largest insurer, [...]

June 1, 2010 | 0 Comments More
Prudential deal may be scrapped if price not right

Prudential deal may be scrapped if price not right

It has been reported over the weekend that insurance giant Prudential may call off the deal with AIA, the Asian arm of US company American International Group (AIG), if the price is not right. It emerged last week that Prudential, which is Britain’s second largest insurer, was renegotiating with AIA after investors were said to [...]

May 30, 2010 | 0 Comments More
Prudential in fresh AIA talks

Prudential in fresh AIA talks

Prudential, which is Britain’s second largest insurer, is in fresh talks with AIA, the Asian arm of US company American International Group (AIG). Earlier this week, it was reported that as many as 20% of Pru’s UK investors will vote against the proposed takeover and, as a result, the insurance giant said it is in [...]

May 28, 2010 | 0 Comments More
Rob Devey appointed to lead Pru’s Asia integration

Rob Devey appointed to lead Pru’s Asia integration

Prudential has today announced it has appointed Rob Devey to head up its integration of AIA, the Asian arm of US company American International Group (AIG), which it acquired in a deal worth $35.5 billion (£23.3 billion) last month. Pru, which is Britain’s second largest insurer, said the deal provided it with the opportunity to [...]

April 14, 2010 | 0 Comments More
Euro boosted by Greek rescue package

Euro boosted by Greek rescue package

The euro has started to recover after details of a loan package emerged over the weekend for debt-ridden Greece. The currency rose by more than 2 cents (1.5%) against the dollar, to $1.3672, while it also gained on the pound to 88.408p. Yesterday, finance ministers of the euro zone nations agreed to provide emergency loans [...]

April 12, 2010 | 0 Comments More
Prudential in $35.5bn deal with AIA

Prudential in $35.5bn deal with AIA

Prudential, which is Britain’s second largest insurer, has today confirmed it is to buy AIA, the Asian arm of US company American International Group (AIG), in a deal worth $35.5 billion (£23.3 billion). In a stock market statement today, Pru said the deal provided it with the opportunity to create South East Asia’s leading insurer. [...]

March 1, 2010 | 0 Comments More
Prudential in advanced talks with AIA

Prudential in advanced talks with AIA

Prudential, which is Britain’s second largest insurer, is understood to be in ‘advanced talks’ to acquire AIA, the Asian arm of US company American International Group (AIG). AIA is a key part of AIG with around 20 million customers and reports say the deal could cost about $30 billion (£19.6 billion). In order to finance [...]

March 1, 2010 | 0 Comments More
Microsoft-Yahoo partnership approved by EU and US regulators

Microsoft-Yahoo partnership approved by EU and US regulators

The 10-year search and advertising deal between Microsoft and Yahoo has been approved today by both the US Department of Justice and the European Commission. Both companies said they plan to begin the tie-up in the next few days and the deal will be finalised by early 2012. The deal, which was agreed in July [...]

February 18, 2010 | 0 Comments More
Kraft increases offer for Cadbury as Nestlé withdraws bid

Kraft increases offer for Cadbury as Nestlé withdraws bid

Swiss food giant Nestlé has declared itself out of the running for British confectioner Cadbury. Late last year, Nestlé was reported to be the latest company to make an offer for Cadbury after US food giant, Kraft, which is renowned for brands such as Kenco coffee and Oreo biscuits, approached Cadbury in September with an [...]

January 5, 2010 | 0 Comments More
Novartis buys Alcon for $40bn

Novartis buys Alcon for $40bn

Swiss pharmaceuticals group, Novartis International, has started the New Year on a high with one of Europe’s largest ever takeovers. Novartis has agreed to take full control of Alcon, a leading maker of eye care products, in a deal worth $40 billion (£24.8 billion). Novartis bought 25% of eye care specialist Alcon, which is also [...]

January 4, 2010 | 1 Comment More