The Edge

Richard Northedge takes on corporate finance

Archive for the ‘Mergers’ category

What have the regulators got against ITV?

No wonder ITV (LON:ITV) directors are angry with the Competition Commission. The company has a permanent seat at the competition regulator’s table, practically keeping it in business single-handed.
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Cadbury: It’s investors who decide bids

Now that Kraft Foods (NYSE:KFT) has made its hostile bid for Cadbury it is worth remembering what a hostile takeover offer is. It is one that the directors reject – not necessarily one the shareholders oppose.
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A monopolies watchdog with nothing to chew

What’s going on at the Competition Commission? Er, not much. If the sale of Friends Reunited hadn’t been referred there, the watchdog would have only one case on its books by the end of November 2009.
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Bidders lose their nerve

There is not only a dearth of takeovers at present, there is a trend to abandon bids that have already been announced. Are bidders’ eyes proving bigger than their stomachs or have predators lost their nerve?
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Why not give us our shares in the nationalised banks?

Every UK household has more than £3,000 invested in Royal Bank of Scotland and Lloyds (LON:LLOY) shares, admitted UKFI, the government agency looking them for us, as it spelt out ways of selling them and the problems involved. So why not just give each household its shares?

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“Who is going to bail out the taxpayer?”

At last there is an official inquiry into how the banking crisis happened – but not into punishing those responsible or compensating those that suffered. It is something the government should consider in this year’s budget or next year’s general election.
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Is Innocent being innocent in selling out to Coke?

Coca-Cola is a mature product, if a sprightly one, but its purchase of a stake in Innocent suggests the UK smoothie business realises it is reaching maturity too.
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Channels 3, 4 and Five - a TV merger that does not add up

ITV describes its plan to merge with Channel 4 and Five as “blue sky” thinking. Well what does BSkyB think of it? Sky was blocked by the Competition Commission for a far smaller link with ITV.

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