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
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Andrea Bonomi’s Investindustrial is offering 790 mln euros for the all-inclusive holiday group. This may not be a five-star price but it blows a rival Franco-Chinese bid out of the water. And investors have spent years in the wilderness. This is an offer the board can recommend.
The ad giant’s first results since a merger with Omnicom collapsed were unexpectedly poor. Publicis shares tumbled. Claims the deal was about “opportunity, not necessity” ring increasingly hollow. Pressure to find a successor for CEO Chairman Maurice Levy is rising.
The cable group bought 6.4 pct of the British broadcaster from BSkyB for 481 mln stg. The stake is too small to confer any sway over ITV or stop a rival bidder. But Liberty is increasingly keen on content as well as distribution. A full takeover could follow.
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