LONDON, UK: JD Sports Fashion Plc, the leading global retailer of sports, fashion and outdoor brands, has signed an agreement to acquire Hibbett Inc., a company listed on the Nasdaq, for a price of $87.50 per share in cash, implying an equity value of $1,083 million and an enterprise value of $1,109 million. Régis Schultz,…
Author: Ali Mirza
JTC to acquire JPMorgan’s First Republic Trust Company of Delaware for $21 million
LONDON, UK: JTC Plc, the global professional services business, announced the proposed acquisition of First Republic Trust Company of Delaware LLC (FRTC-DE), which is a wholly owned subsidiary of JPMorgan Chase Bank, N.A.. First Republic Trust Company of Delaware LLC (FRTC-DE) is a provider of trust administration services to high-net-worth individuals and is headquartered in…
Technology Minerals Plc to sell LRH Resources Limited to European Lithium
LONDON: Technology Minerals Plc (LSE: TM1), a pioneer in the sustainable circular economy for battery metals, has declared the signing of a definitive agreement to divest its stake in exploration licenses located in Leinster, Republic of Ireland. The transaction involves the sale of LRH Resources Limited, a fully-owned subsidiary, to European Lithium Limited for a…
SDX Energy signs deal to sell West Gharib interests in Egypt
LONDON: SDX Energy has executed a binding sale and purchase agreement (SPA) for the disposal of the company’s West Gharib interests in Egypt. SDX Energy also continues to progress the binding documentation for the sale of its South Disouq assets. The Company is focused on delivering shareholder value by focusing its efforts on fully exiting…
Concord Chorus Limited offers to acquire Hipgnosis Songs Fund for $1.4 billion
LONDON, UK: Concord Chorus Limited and the board of Hipgnosis Songs Fund have announced a definitive agreement for a recommended all-cash acquisition. The transaction will see Concord Chorus acquire the entire issued and to be issued share capital of Hipgnosis. The acquisition, valued at approximately US$1.402 billion, is set to be executed through a Court-sanctioned…
Eleco plc has acquired 100% of Vertical Digital group companies
LONDON, UK: Eleco plc (AIM: ELCO) wholly owned subsidiary Elecosoft Ltd has acquired 100% of the share capital of Vertical Digital group of companies, consisting of Vertical Digital SRL and Sons of Coding SRL for an initial consideration of €1.3m (c£1.1m), exclusively financed by the Company’s internal cash resources. Vertical Digital has a proven track…
Regent Acquisitions to takeover TClarke plc in a £90.56 million deal
LONDON, UK: Regent Acquisitions Limited has negotiated the acquisition of TClarke plc, with both companies’ boards of directors expressing their satisfaction over the agreed terms. The transaction will see Regent Acquisitions making a recommended cash offer for the entire issued and to be issued share capital of TClarke that is not already under the ownership…
Global Economic Shifts: Recession, Restructuring, and Rising Corporate Takeovers
The first quarter of 2024 has been marked by significant developments in the global economic landscape, influenced by financial restructuring, challenges stemming from a looming recession, geopolitical circumstances, and a notable increase in bankruptcy filings and corporate takeovers, particularly in the UK, USA, and Australia. Financial Restructuring and Bankruptcy Trends: The year began under the…
Synthomer plc sells its latex compounding business to Matco NV for €27.5 million
LONDON, UK: Synthomer plc announced an agreement to divest its latex compounding business to Belgian company Matco NV, a leader in compounds, water-based adhesives, and solutions for various industrial applications, for consideration of c.€27.5 million. The latex compounds business, which is part of Synthomer’s Health & Protection and Performance Materials division, was designated as non-core…
Balanced Commercial Property Trust evaluates sale of the business
LONDON, UK: The Balanced Commercial Property Trust Limited (BCPT) has announced a comprehensive strategic review to evaluate the company’s future and maximize shareholder value. Amidst a challenging economic climate and property market, the BCPT Board is considering various options, including a potential sale, although no discussions with buyers are currently underway. Paul Marcuse, Chairman of…
Inchcape to sell UK Retail operations to Group 1 Automotive UK for £346 million
LONDON, UK: Inchcape Plc has agreed to sell its UK Retail operations to Group 1 Automotive UK Limited, a wholly-owned subsidiary of Group 1 Automotive Inc. (NYSE: GPI) for a cash consideration of approximately £346 million. In FY2023, Inchcape’s UK Retail operations generated revenue of £2,065m, 18% of Group revenue, and adjusted operating profit of…
First Class Metals in talks with Seventy Ninth Resources for asset disposal
LONDON, UK: First Class Metals PLC, the UK-listed exploration company, has initiated discussions with asset management firm Seventy Ninth Resources Limited for the potential sale of select properties in northern Ontario, Canada. The negotiations, which involve both core and non-core assets, underscore the effectiveness of First Class Metals’ strategy to enhance and monetize its holdings….