Aimee joined Breakingviews in 2017 and writes about European airlines, insurance and property companies. Based in London, she previously spent three years at The Sunday Times as banking correspondent. Prior to that, she was a senior reporter covering the bond market at IFR, a financial trade publication published by Thomson Reuters. She holds a degree in English and History from the National University of Ireland, Galway, and a diploma in journalism from the London School of Journalism.
The competition watchdog blocked Sainsbury’s proposed $9 bln takeover of Asda. CEO Mike Coupe has few palatable options to cope with German discounters and the revival of UK peers. Deal fever will resurface after the rot sets in and the grocer’s share price has fallen further.
Suitors are circling the German bank’s money management division. Allianz or Amundi are interested and have deep pockets. And talks are underway with UBS’s asset manager, the FT reports. Deutsche’s problems make the structure of any transaction as important as the price tag.
The activist group revealed a $1.4 billion stake in German software giant SAP, and backed its management. The fund’s own analysis implies the stock could double, but looks out of kilter with analysts’ forecasts. The bold call means SAP needs to move quickly to keep Elliott sweet.