Connect with us

Hi, what are you looking for?

News

Private-Equity Firms Spark Bidding Wars in U.K.

Private-Equity Firms Spark Bidding Wars in U.K.

Blackstone Group Inc., Carlyle Group Inc. and other buyout firms are bidding for U.K. publicly listed companies at a faster rate than they have in years. The reason: Post-Brexit Britain is one of the few markets where investors think big assets are going for cheap.

Buyout firms have struck 13 so-called public-to-private deals in Britain so far this year for a total value of almost $31 billion, acquiring businesses in sectors including healthcare, supermarkets and property development, according to Dealogic. That is the highest number for the comparable period since 2007 and more than double the six deals done in all of 2020.

By comparison, the U.S. has recorded 20 such deals since January, compared with 21 in all of last year.

The latest example: On Friday, Ultra Electronics Holdings PLC, a U.K.-based provider of defense equipment, received a roughly $3.5 billion takeover proposal from Cobham Ltd., a British aerospace and defense company owned by U.S. buyout firm Advent International.

You May Also Like

World

France, which has opened its borders to Canadian tourists, is eager to see Canada reopen to the French. The Canadian border remains closed...

Health

Kashechewan First Nation in northern Ontario is experiencing a “deepening state of emergency” as a result of surging COVID-19 cases in the community...

World

The virus that causes COVID-19 could have started spreading in China as early as October 2019, two months before the first case was identified in the central city of Wuhan, a new study...

World

April Ross and Alix Klineman won the first Olympic gold medal for the United States in women’s beach volleyball since 2012 on Friday,...