Odey Asset Management says Anglo-American’s £405m offer is not a fair price for shareholders
Crispin Odey’s asset management fund has rebuffed Anglo-American’s “unjust” takeover bid for Sirius Minerals, saying the £405m offer does not represent a fair price for shareholders in the troubled fertiliser miner.
Odey Asset Management, which owns 1.29% of Sirius, said it would vote against the mining giant’s 5.5p-a-share bid for the company, which plans to dig the UK’s first deep mine in 40 years under the North York moors.
Continue reading...Deal will create second-biggest retail asset management group in Britain, managing £65bn
The investment manager Jupiter is to pay £370m to buy Merian Global Investors in a deal that will create the second-largest retail asset management group in the UK.
The enlarged group will have £65bn under management, but some analysts said they regarded the deal as an essentially defensive merger of two struggling businesses.
Continue reading...Watchdog says shoppers could lose out from merger through fewer discounts and less choice
Britain’s competition watchdog has said it could force JD Sports to sell the Footasylum sportswear business it bought last year because consumers could lose out as a result of the deal.
The Competition and Markets Authority said its six-month investigation into last April’s £90m takeover found it “substantially lessens competition nationally”. It said shoppers could get fewer discounts, receive a lower quality of customer service and enjoy less choice in stores and online.
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