Quentin Webb is a Reuters Breakingviews columnist, covering mergers and acquisitions, corporate finance and private equity. He is based in London. Before becoming a columnist, he was a news reporter for Reuters, where he was most recently European M&A correspondent. He has also worked as a correspondent in Brussels and as a credit-markets reporter. He joined Reuters in 2003 from Legalease, a legal publisher. He has a first-class degree in psychology from University College London. Follow Quentin on Twitter @qtwebb
- Tel: +44 (0)20 7542 9405
- E-mail: email@example.com
The once-cautious French group is bidding $4 bln for private equity-backed IGATE. The friendly deal is at a pricey 22 times 2015 earnings. Still, the boldness could pay off. The IT services giant gets a faster-growing, higher-margin business, heft stateside, and tax benefits too.
A vehicle backed by conglomerate-builder Martin Franklin and hedgie Noam Gottesman is buying Iglo for 2.6 bln euros. Seller Permira gets about 8.5 times 2014 EBITDA for the maker of Birds Eye fish fingers. It looks like a frugal base from which to build a big food group.
Liberty Global’s Telenet arm is buying KPN’s unit in Belgium for 1.33 bln euros. Paying eight times 2015 EBITDA for BASE looks good value for the buyer given the scope for savings. Moving into owning mobile assets is also an important shift for John Malone’s group.
- Europe’s credit boom locks in mediocre returns
- Hairy deals mean European animal spirits returning
- Nokia engineers surprisingly clean Alcatel terms
- Nokia will struggle to cut through Alcatel tangle
- Bollore gets better of activists in Vivendi tussle
- BG board has reasons to cut CEO's $48 mln payout
- FedEx bets $5 bln on Europe's potential with TNT