Edition:
United Kingdom

Deals

U.S. banks set for M&A wave as Trump cuts red tape

Photo

WASHINGTON An easing of financial rules will soon unleash pent-up mergers and acquisitions among mid-sized U.S. banks, according to deal bankers, analysts and bank executives.

Photo

General Mills moves into pet food with $8 billion Blue Buffalo deal 4:33pm GMT

Cheerios cereal maker General Mills Inc will buy Blue Buffalo Pet Products Inc for nearly $8 billion, foraying into a fast-growing pet food market to counter declining sales of processed foods.

Photo

BMW, Great Wall sign letter of intent for electric Mini JV in China 4:05pm GMT

FRANKFURT German premium carmaker BMW and China's Great Wall Motor Co have signed a letter of intent to jointly produce electric Mini vehicles in China, BMW said on Friday.

Photo

LafargeHolcim buys British ready-mix concrete and aggregates maker 2:34pm GMT

ZURICH LafargeHolcim has bought Kendall Group, an aggregates and ready mix concrete maker in southern Britain, in the first acquisition by the Swiss company's Chief Executive Jan Jenisch since he took charge last September.

Exclusive: Dutch lender NIBC Bank to launch IPO next week - sources 2:53pm GMT

FRANKFURT/LONDON/AMSTERDAM NIBC Holding NV, the Hague-based bank, will announce as soon as Monday its intention to launch an initial public offering on Euronext in Amsterdam, banking sources said.

Photo

Two major Booker investors back Tesco deal amid growing dissent 3:23pm GMT

LONDON Two leading investors in British wholesaler Booker are backing a takeover by retail giant Tesco , despite a late push by an activist hedge fund and shareholder advisers to secure better terms.

Photo

Metro Bank buys $731 million mortgage portfolio from Cerberus 4:36pm GMT

LONDON Britain's Metro Bank will acquire a 523 million pound ($731 million) mortgage portfolio from two companies controlled by U.S. private equity firm Cerberus, the bank said on Friday.

Photo

Schlumberger, Subsea 7 in talks to form oil services joint venture 11:19am GMT

OSLO Schlumberger , the world's largest oilfield services firm, and smaller peer Subsea 7 said on Friday they were entering exclusive talks to form a joint venture to deliver subsea installations and services for oilfields.

Photo

Tencent, JD.com buy stakes in Chinese retail chain 11:01am GMT

HONG KONG Tencent Holdings and JD.com will pay $140 million and $117 million respectively for minority stakes in a Chinese retail chain as China's tech giants extend their battles in the retail space.

Photo

U.S. sues to stop Norway's Wilhelmsen from buying rival Drew Marine 2:57pm GMT

WASHINGTON The U.S. Federal Trade Commission said on Friday it would challenge in court the Norwegian company Wilhelmsen Maritime Services' plan to buy smaller U.S. rival Drew Marine Group.