Potash rejects $39bn BHP Billiton bid

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULL Share Tuesday 17 August 2010 8:12 am THE world’s largest fertiliser producer Potash Corporation of Saskatchewan has rejected a $39bn (£24.9bn) takeover approach from mining giant BHP Billiton.Canada-based PotashCorp said BHP offered US$130 a share in cash – equivalent to a 20 per cent premium on the company’s share price on 11 August.However, Canadian Potash dismissed the proposal as “grossly inadequate”.PotashCorp chairman Dallas Howe said in a statement: “The BHP Billiton proposal substantially undervalues PotashCorp and fails to reflect both the value of our premier position in a strategically vital industry and our unparalleled future growth prospects.“The fertiliser industry is emerging from the recent global economic downturn, and we feel strongly that PotashCorp shareholders should benefit from the current and potential value of the company. We believe the BHP Billiton proposal is an opportunistic effort to transfer that value to its own shareholders.”BHP said in sa statement that it “continues to review its options and will make a further announcement in due course.” John Dunne Potash rejects $39bn BHP Billiton bid whatsapp whatsapp Show Comments ▼last_img read more

BANKING CHEMISTRY GEEKS GET CREATIVE

first_img whatsapp Thursday 19 August 2010 8:47 pm THANK heaven for the idle pairs of hands which yesterday provided The Capitalist with the throatiest chuckle of the week.Into the inbox popped a link that’s been doing the rounds in the City, containing a link to a “periodic table” – though not one that would be familiar to many from distant memories of school chemistry lessons.Nah, this little beauty is a periodic table of swearing – with a full spectrum of profanities arranged in order of vehemence across a multi-coloured table, from the “heavy metals” on the left (read: the C and F words and derivative phrases) to the “light gases” on the right.“A JPEG built, I believe, by some techies in the basement of a government owned bank,” the email states, mischievously. “I’m so glad they’re busy…”LINE OF FIRESpeaking of government-owned banks, RBS might be best advised to prepare for the worst on Monday as the climate change protesters camped outside its Gogarburn headquarters near Edinburgh gear up for a full day of demonstrations.The standoff between eco-warriors and the bank – over its investments in oil, gas and mining projects – is far from new, you see. Seasoned veterans of the bank in the City will remember last year, when hundreds demonstrated inside and outside RBS’s Bishopsgate HQ, including super-gluing their hands to the floor of the foyer and stripping naked to hold up protest banners. Better start shoring up the defences, pronto.TICKET TOUTAnother instalment in The Capitalist’s ongoing saga on bankers turning entrepreneurs in the wake of the crisis. Gareth Jenkins, who lived to tell the tale of his first-hand experience at Lehman Brothers a few years ago, left UBS to pursue his dream just last month.He’s now set up Club Journeyman – a sports ticketing and corporate entertainment business – which plans to offer small to mid cap companies the same hospitality opportunities as their larger counterparts.“I really enjoyed UBS but had a hankering to start up my own company – and now, I go to work every day and get to deal with the likes of Manchester United and Chelsea,” he gushes, having recently struck ticketing deals with the two clubs, the Millennium Stadium, Cheltenham Racecourse and the O2 Arena. Not bad for a rookie…LEGS SEVENCast your eyes over the above group of nutters from Deloitte, who have pledged to tackle over 1,100 miles on a seven-seater conference bike in aid of Cancer Research UK.Led by consulting analyst Ed Grieg, the cyclists are aiming to set a new Guinness World Record for the highest number of riders taking part in a John O’Groats-to-Land’s End expedition on a single bike, with six people pedalling and one person steering the cumbersome contraption. They should be arriving in London later today – good luck to them, I say.GOSSIP’S CORNERRumour of the week, courtesy – as always – of troubled broker Astaire Securities. I hear the firm’s Plus markets team are eager to escape the firm’s recent woes and are looking to complete an MBO – though they’re also open to the idea of a tie-up with a rival broker… whatsapp Show Comments ▼ BANKING CHEMISTRY GEEKS GET CREATIVE Share KCS-content More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Tags: NULLlast_img read more

Good trading helps Punch cut net debt

first_img More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com whatsapp Tuesday 24 August 2010 7:33 pm Show Comments ▼ whatsapp KCS-content Punch Taverns, the country’s largest pubs group, said yesterday it expected full-year earnings to be slightly ahead of its previous expectations – reflecting a pub improvement programme, a good World Cup and sunny summer weather.The company, which runs more than 7,100 pubs, said sales at pubs it directly manages, which have been open for more than a year, rose by 2.6 per cent in the fourth quarter to the end of August.But Punch added in a trading update that profit falls at the pubs it leases to tenants are expected to be broadly in line with the first half of the year, because a rise in sales was offset by lower margin on drinks sales and reduced rental income.Over the past year the pub chain sold off £300m worth of pubs and reduced its net debt by almost £700m? to £3.1bn.The business also said it had refurbished more than 200 managed pubs over the past year. Punch said: “We expect the trading outlook in the near term to continue to be uncertain, particularly given the potential impact of the June budget on consumer spending into next year.”The news comes as former finance director of Marks & Spencer Ian Dyson joins the company next month as chief executive. He takes over from Giles Thorley who left the heavily indebted firm in March. center_img Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fanautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Good trading helps Punch cut net debt Tags: NULLlast_img read more

Ivy founder in Middle East deal

first_img KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndo Richard Caring, the entrepreneur behind The Ivy, Rivington Grill and Scott’s has signed a joint venture with Jumeirah, the Dubai-based hotels and leisure business. The deal allows Jumeirah to open restaurants under the Caring brands. There is already a Rivington grill in Dubai, which opened in 2008. It is understood Caring’s holding company, Caprice, will provide senior staff on a consultancy basis. The aim is to “pay tribute” to the restaurants rather than produce replicas, say those close to the process. Caring has an estimated fortune of £350m. Ivy founder in Middle East deal Share whatsapp whatsappcenter_img Show Comments ▼ Monday 20 September 2010 8:57 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULLlast_img read more

Ireland bets all on £43bn bailout plan

first_img Tags: NULL KCS-content Ireland bets all on £43bn bailout plan Show Comments ▼ BANK of Ireland was forced to reassure savers their money was safe yesterday following the republic’s revelation that the cost of Ireland’s banking crisis could surge as high as €50bn (£43bn) – as it revealed further bailouts for Anglo Irish Bank, Allied Irish Banks and Irish Nationwide. “Customers can have confidence in Bank of Ireland and all deposits with Bank of Ireland are secure and 100 per cent guaranteed by the Irish government,” the bank, which raised €1.7bn in a rights issue in June, said in a statement reiterating it was in a “strong financial position” with an eight per cent tier one capital. The bank said it wasn’t seeing any unusual withdrawals. Of Ireland’s top lenders, only Bank of Ireland and Irish Life & Permanent will remain free from state control after the bailouts. Finance minister Brian Lenihan, who yesterday admitted the figures were “horrendous but manageable”, has long insisted that customers with savings in all of Ireland’s major banks are safe, but the scale of the bank bailout – equivalent to a third of the country’s GDP – has triggered fears that panicked savers will rush to withdraw their cash. While the Irish government recently extended its 100 per cent deposit guarantee to all Irish-owned financial institutions until the end of the year, this protection remains dependent upon the Irish state remaining solvent. The possibility of national bankruptcy, however remote, has already seen concerned savers withdraw money with customer deposits falling by more than €5bn to €23.1bn in the first half of this year.Ireland’s central bank yesterday forecast that the total bailout bill for Anglo Irish Bank would be €29.3bn, but in a “severe hypothetical stress scenario” said it could reach as high as €34bn. Irish Nationwide will receive a further €2.7bn, bringing its total bailout to €5.4bn. While Allied Irish Banks will test the markets with a €3bn equity placing, fully underwritten by the National Pension Reserve Fund, meaning the government could end up owning 90 per cent of the bank, and bringing its total rescue package potentially up to €10.4bn.Lenihan said the bank bailouts would “bring closure and finality to the banking problems in Ireland,” adding that by taking action now it would avoid having to call on the EU for a bailout in the style of Greece. He said he would outline a four-year plan in November to get its budget deficit, currently ten times the European Union guidelines for Eurozone members, to below three per cent of GDP by 2014, requiring further “significant” measures next year – over and above already announced cuts – to reduce the country’s borrowing.The republic has already had three emergency budgets since 2008 that have raised taxes and cut wages. Lenihan said Ireland, which is fully funded until June 2011, had decided to cancel its bond auctions in October and November and would return to the bond markets as normal in early 2011. The move reassured the City yesterday, and the cost of borrowing fell – with 10-year bond yields dropping almost 0.25 per cent to 6.37 per cent. center_img whatsapp Share Thursday 30 September 2010 11:21 pm whatsapplast_img read more

Cable’s antics are threat to progress

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Sunday 5 December 2010 11:47 pm Cable’s antics are threat to progress Show Comments ▼ GREAT. Just when the unthinking City-bashing was starting to calm down, with everybody beginning to act in a grown-up fashion, it’s all kicking off again, thanks to Vince Cable. The business secretary told City A.M. last night that the government was still considering another tax on bonuses. This comes despite the fact that the Treasury and the rest of the government increasingly understand that the anti-City action and rhetoric has now gone too far, and that business, wealth, jobs and tax receipts are being lost. There have been lots of productive behind the scenes discussions; various ill-thought through policies have been dropped, such as an unilateral UK attempt to impose liquidity rules – and I’m told real progress is being made on a proper banking resolution system to deal with bust banks without bailouts. It is looking as if there is now serious support for a new special administration regime for banks that will include automatic debt-equity swap procedures to impose losses on bondholders in going concerns and recapitalise banks automatically. This would be a great move, strengthening the City while improving stability. Some in the Bank of England are also looking kindly on proposals to create special storage deposits, which would be separate from regular current accounts. The former would be truly safe but pay no interest; the latter will pay interest but be riskier, with depositors becoming preferred creditors in the event of a crisis with limited, if any, deposit insurance. Let us see exactly what actually emerges but the thinking has become much more sophisticated. It would allow much more market discipline to be reintroduced into the system, reduce moral hazard and protect taxpayers.Returning to the world of meaningless gesture politics, the biggest UK-based banks are also set to announce, together with the government, that they will be paying out fewer bonuses this year. This will be partly propaganda – new European rules, to be unveiled this week, will force everybody to pay a lower proportion of total compensation in bonuses and to defer much of this, so the “choice” to cut bonuses isn’t one – but the idea was to draw a line beneath the City-bashing. Again, this would have been real progress. Alas, it was not to be, thanks to Cable.The Liberal Democrats (and Cable himself) have lost a lot of their left-wing supporters since the election and especially since they came out in favour of higher tuition fees, which they opposed in their manifesto. Nick Clegg has been good at justifying his u-turn, pointing to how the poor will be protected by the government’s complex deal on the matter. Other Lib Dems have been barely able to conceal their disquiet at the policy, however, and Clegg is facing a serious challenge to his authority. Cable in particular has constantly given the impression that he couldn’t make up his mind whether or not he would support his own policy (as business secretary, he also controls university policy). This embarrassing spectacle has been going on for days; no wonder that ahead of Thursday’s vote in the House of Commons Cable is trying to distract everybody’s attention by threatening a bonus tax again. That he has no direct control on taxes (it’s a matter for the Treasury) doesn’t seem to bother him; it is all about sending a dogwhistle to the left that he is still on side. At least one thing is now clear to all: “St” Vince has lost his [email protected] Share whatsapp Tags: NULL whatsapp KCS-content last_img read more

Flowers still keen on Spain

first_imgWednesday 8 December 2010 8:49 pm Flowers still keen on Spain Show Comments ▼ US private equity firm JC Flowers said it still wanted to invest in Banca Civica once the Spanish savings bank completes its merger with domestic CajaSol.Interest from Flowers in the deal was seen to have cooled when its founder said he was not interested in investing in the bank until Spain had restored faith in its finances. But Chris Flowers, founder and executive chairman, said yesterday: “We continue to be impressed with Banca Civica’s unique business model. Currently, Banca Civica is in negotiations to merge with CajaSol. When these negotiations are complete, we hope to resume our own discussions with Banca Civica. We remain optimistic about Spain’s fundamentals and believe it offers attractive opportunities for investment.” whatsapp KCS-content Sharecenter_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comConnecticut man dies after crashing Harley into live bearnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com whatsapp Tags: NULLlast_img read more

Christmas boost for retail sales

first_img whatsapp Christmas boost for retail sales Tags: NULL KCS-content Wednesday 15 December 2010 8:30 pm More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comcenter_img Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Show Comments ▼ Holiday season high street sales are up on last year, employer’s body the CBI reported yesterday. Some 67 per cent of retailers expected higher sales than last year, with only 11 per cent preparing for a decline. The positive index score was the highest year-on-year comparison since April 2002. However, fewer retailers expect the sales boom to continue into next year, with the VAT rise – on 4 January – threatening to dampen sales of big ticket items. whatsapplast_img read more

Kirsh ruled out of bid talks with Minerva

first_imgSunday 16 January 2011 9:53 pm Tags: NULL whatsapp whatsapp LONDON property developer Minerva revealed it is holding preliminary takeover talks with an unnamed potential buyer, which has already propelled its shares upwards and is set to do the same this morning. The identity of the predator remained a mystery yesterday, with Minerva’s advisers remaining tight-lipped about the ongoing talks. However, industry sources ruled out a number of City real estate players including Land Securities and British Land. One property insider said the interested party was likely to be an opportunity fund.Minerva declined to comment. Minerva announced the talks after its shares jumped 11 per cent to 87p on Friday, prompting the Takeover Panel to contact the firm for clarification. Friday’s share price gives the firm a £140m valuation. Minerva’s board stressed in its statement to the stock exchange that the talks might not lead to a formal offer. It is the third time in as many years that the company has been circled by potential buyers, most recently by activist shareholder Nathan Kirsh in 2009. It is understood that Kirsh is not the interested party this time. Kirsh criticised the firm for failing to find a tenant for its Walbrook development on Cannon Street (pictured), which has stood empty since completion in February. BRIAN CASSINGREENHILL & COHelping Minerva field calls from potential bidders is familiar ground for Brian Cassin of Greenhill & Co, who advised the company during its successful defence against Kirsh’s takeover advances in January 2010. Cassin joined Greenhill in 1998, having previously worked for six years with Baring Brothers International in London and New York.Cassin’s recent deals include advising Emerson during its battle to take over Chloride, in which it eventually paid out £997m to fend off rival ABB. He worked closely with Simon Borrows, Greenhill’s chairman of European operations, before Borrows went part-time in April 2010. Cassin then became co-head of European corporate advisory. While advising Minerva, Cassin has worked to deflect several advances from activist shareholder Nathan Kirsh, who attempted to take over Minerva in 2009 and tried to oust the board of directors in mid-2010. KCS-content Share Read This Next’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe WrapHow HGTV’s ‘Renovation Island’ Changed Bryan and Sarah Baeumler’sThe Wrap’Bridgerton’ Stars Phoebe Dynevor and Nicola Coughlan on Daphne andThe WrapBest Wine Gifts & Wine Accessories at Every PriceGayot’Hitman’s Bodyguard’s Wife’ Earns $17 Million 5-Day Opening as Box OfficeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe Wrap Show Comments ▼ Kirsh ruled out of bid talks with Minerva last_img read more

An upbeat SDL appoints a new chief executive

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap An upbeat SDL appoints a new chief executive Show Comments ▼ whatsapp Tags: NULL whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comcenter_img KCS-content BRITISH translation software firm SDL named its chief financial officer John Hunter as its new chief executive yesterday after a period of strong trading that will see full-year revenue and profits ahead of consensus.Revenue is now expected to be in the range of £202.5m to £203.5m, compared with analyst consensus forecasts of £191.1m. Profits before taxation and amortisation of intangible assets should be in the range of £34.5m to £35.5m. Monday 17 January 2011 8:39 pm Sharelast_img read more