We will track here amendments to this resource that reflect changes in law and practice.
A practice note listing the recent deals published on What's Market.
What's Market (UK) is a deals database that lets you search and compare a wide range of public company transactions and AGM notices.
What's Market allows you to:
Search for details of recent deals.
Review search results and browse deal terms.
Compare features and deal terms across a range of deals.
Export comparisons to word.
For information on the range of corporate transactions and general meetings included in What's Market, see the scope outline.
Date of announcement | Target | Deal | Points to note |
15 May 2013 | Lonrho Plc (Main Market) | The offer is valued at £174.5 million and is structured as a scheme of arrangement. FS Africa Limited is a newly incorporated company jointly owned and controlled by Rainer-Marc Frey and BIH S.A.. | |
14 May 2013 | Severn Trent Plc (Main Market) | Announcement by Severn Trent Plc, confirming that it has received an approach from a consortium made up of Borealis Infrastructure Management Inc., the Kuwait Investment Office and Universities Superannuation Scheme Limited regarding a possible offer for the company. | |
10 May 2013 | Datong plc (AIM) | Recommended cash offer for Datong plc by Seven Technologies Holdings Limited | The offer is valued at £6.92 million. Datong plc was previously subject to a formal sale process (see What's Market, Possible offer for Datong plc (formal sale process)). |
24 April 2013 | May Gurney Integrated Services plc (AIM) | Recommended cash and share offer for May Gurney Integrated Services plc by Kier Group plc | The offer is valued at £221 million and is structured as a scheme of arrangement. May Gurney Integrated Services plc is also subject to a firm offer by Costain Group PLC (see What's Market, Costain Group PLC offer for May Gurney Integrated Services plc). |
19 April 2013 | Eurasian Natural Resources Corporation plc (Main Market) | Announcement by Alexander Machkevitch confirming that he is reviewing the possibility of forming a consortium with Alijan Ibragimov, Patokh Chodiev and the Kazakh Government to make an offer for Eurasian Natural Resources Corporation plc. | |
15 April 2013 | Betfair Group plc (Main Market) | Announcement by CVC Capital Partners Limited, in response to press speculation, confirming that it is in talks with Richard Koch, Antony Ball and partners regarding a possible offer for Betfair Group plc. | |
11 April 2013 | Healthcare Locums plc (AIM) | Recommended cash offer for Healthcare Locums plc by Angel Acquisitions Limited | The offer is valued at £6.36 million. Angel Acquisitions Limited is a company owned as to 50% by ACE Equity Holdco Cayman Ltd (established by Ares Capital Europe Limited (ACE)) and 50% by Tosca Opportunity (in respect of whom Toscafund Asset Management LLP (Toscafund) is the investment manager). Healthcare Locums plc was previously the subject of a possible offer by Toscafund and ACE (see What's Market, Toscafund Asset Management LLP and Ares Capital Europe Limited possible offer for Healthcare Locums plc). |
28 March 2013 | Continental Farmers Group plc (AIM) | Recommended cash offer for Continental Farmers Group plc by United Farmers Holding Company | The offer is valued at £58.2 million to £61.5 million and is structured as a scheme of arrangement. The offer is made by United Farmers Holding Company, a company owned as to 34% by Saudi Agricultural and Livestock Investment Co., 33% by Saudi Grains and Fodder Holding LLC and 33% by Almarai Company. |
27 March 2013 | CPPGroup Plc (Main Market) | Possible cash offer for CPPGroup Plc by Hamish Macgregor Ogston CBE | Announcement by CPPGroup Plc (CPP) confirming that it has received a preliminary approach from Hamish Macgregor Ogston CBE regarding a possible offer for CPP. The possible offer is valued at £1.71 million. |
27 March 2013 | May Gurney Integrated Services plc (AIM) | Possible offer for May Gurney Integrated Services plc by Kier Group plc | Announcement by Kier Group plc confirming that it is considering a potential combination with May Gurney Integrated Services (May Gurney). May Gurney is also subject to a firm offer by Costain Group PLC (see What's Market, Costain Group PLC offer for May Gurney Integrated Services plc). |
26 March 2013 | May Gurney Integrated Services plc (AIM) | Recommended share offer for May Gurney Integrated Services plc by Costain Group PLC | The offer is valued at £178 million and is structured as a scheme of arrangement. The combined group will be renamed Costain May Gurney PLC, in which Costain Group PLC will hold approximately 53% and May Gurney Integrated Services plc (May Gurney) will hold approximately 47%. May Gurney is also subject to a possible offer by Kier Group plc (see What's Market, Kier Group plc possible offer for May Gurney Integrated Services plc). |
26 March 2013 | Sky High plc (AIM) | The offer is valued at £3.28 million. This is a take private transaction. |
Date of announcement | Issuer | Deal | Points to note |
3 May 2013 | Superglass Holdings plc (Main Market) | The size of the issue is £12.2 million (net). Superglass Holdings plc is also proposing to effect a capital reorganisation (see What's Market, Superglass Holdings plc: sub-division and consolidation of share capital), a debt for equity swap (see What's Market, Superglass Holdings plc debt for equity swap (2013)) and its de-listing from the Official List of the Main Market and transfer to AIM (see What's Market, Superglass Holdings plc de-listing (transfer to AIM)). | |
1 May 2013 | Tyman plc (AIM) | The size of the issue is £65.5 million (net) and is intended to part-fund the acquisition of Truth Hardware from Melrose Industries PLC. Tyman plc also intends to transfer to the Official List from AIM (see What's Market, Tyman plc transfer from AIM). | |
30 April 2013 | Carphone Warehouse Group plc (Main Market) | The size of the issue is £105 million (gross) and will be effected by way of an accelerated bookbuild. The issue is intended to part fund Carphone Warehouse Group plc's acquisition of the remaining 50% interest in New BBED Limited (see What's Market, Carphone Warehouse Group plc acquisition of remaining 50% interest in New BBED Limited (reverse takeover)). | |
29 April 2013 | Fresnillo plc (Main Market) | The size of the issue is £221.86 million (gross). | |
25 April 2013 | Randall & Quilter Investment Holdings plc (AIM) | The size of the issue is £24.1 million (net). | |
19 April 2013 | Mears Group PLC (Main Market) | The size of the issue is £19.7 million (gross). | |
17 April 2013 | Hargreaves Services plc (AIM) | The size of the issue is £40.7 million (net). | |
10 April 2013 | Breedon Aggregates Limited (AIM) | The size of the issue is £58.7 million (net). | |
27 March 2013 | Metals Exploration Plc (AIM) | The size of the issue is US$56.55 million (approximately £37.36 million) (net). | |
26 March 2013 | Plant Health Care plc (AIM) | The size of the issue is £13 million (net). | |
25 March 2013 | Fusion IP plc (AIM) | The size of the issue is £20 million (gross). |
Date of admission to trading | Company | Transaction | Points to note |
22 May 2013 | Platform Acquisition Holdings Limited | Underwritten placing and admission to listing and to trading on the Main Market | Upon admission, the market capitalisation of Platform Acquisition Holdings Limited at the offer price of US$10 per share will be US$905.3 million (approximately £595.46 million). |
14 May 2013 | Weiss Korea Opportunity Fund Ltd. | Upon admission, the market capitalisation of Weiss Korea Opportunity Fund Ltd. at the offer price of 100 pence per share will be £105 million. | |
3 April 2013 | Electrical Geodesics, Inc. | Upon admission, the market capitalisation of Electrical Geodesics, Inc. at the offer price of 120 pence per share will be £29.3 million. | |
2 April 2013 | HellermannTyton Group PLC | Underwritten global offer and admission to listing and to trading on the Main Market | Upon admission, the market capitalisation of HellermanTyton Group PLC at the offer price of 195 pence per share will be £419.9 million. |
28 March 2013 | Falcon Oil & Gas Ltd. | Upon admission, the market capitalisation of Falcon Oil & Gas Ltd. at the offer price of 14 pence per share will be £114.4 million. | |
27 March 2013 | Greencoat UK Wind PLC | Placing and offer for subscription and admission to listing and to trading on the Main Market | Upon admission, the market capitalisation of Greencoat UK Wind PLC (Greencoat) at the offer price of 100 pence per share will be £205 million. SSE plc' s recent disposal of its wind farm capacity is conditional upon Greencoat's successful listing (see What's Market, SSE PLC disposal of four wind farms). |
27 March 2013 | esure Group plc | Underwritten offer and admission to listing and to trading on the Main Market | Upon admission, the market capitalisation of esure Group plc, based on the mid-point of the 240 pence to 310 pence per share price range, will be £1.149 billion. Following admission it is anticipated that esure Group plc will be included in the FTSE 250. |
25 March 2013 | Countrywide plc | Upon admission, the market capitalisation of Countrywide plc, based on the offer price of 350 pence per share, will be £191.2 million. Following admission it is anticipated that esure Group plc will be included in the FTSE 250. |
Date of announcement | Company | Deal | Points to note |
10 May 2013 | Hasgrove plc (AIM) | Hasgrove plc intends to make a return of up to £10.25 million, following which it intends to cancel its AIM admission (see What's Market, Hasgrove plc cancellation of AIM admission). | |
9 May 2013 | The Sage Group plc (Main Market) | The Sage Group plc intends to make a return of £200 million. | |
21 March 2013 | Spirax-Sarco Engineering plc (Main Market) | Spirax-Sarco Engineering plc intends to make a return of £78 million. |
Date of announcement | Company | Transaction | Points to note |
15 May 2013 | Xchanging plc | The consideration is EUR40.5 million (approximately £34.19 million) payable in cash. This is a related party transaction under the Listing Rules. | |
10 May 2013 | Lloyds Banking Group plc | The consideration is £325 million, payable in cash. | |
8 May 2013 | J Sainsbury plc | Acquisition of remaining 50% interest in Sainsbury's Bank plc | The consideration is £248 million, consisting of cash consideration of £193 million and the purchase of £55 million of loan stock at par value.. |
3 May 2013 | Hammerson plc | Acquisition of a further 16.7% interest in the Bullring shopping centre | The consideration is £153.5 million, payable in cash. |
30 April 2013 | Unilever PLC | Acquisition of a further 22.52% interest in Hindustan Unilever | The consideration is INR292.2 billion (£3.49 billion), payable in cash. |
30 April 2013 | Carphone Warehouse Group plc | The consideration is £471 million. The acquisition will be part-funded by a placing (see What's Market, Carphone Warehouse Group plc placing). | |
29 April 2013 | Rentokil Initial plc | The consideration is £1. The buyer will also invest £40 million in City Link Limited to provide funding required to complete its turn-around plan. | |
29 April 2013 | BHP Billiton Plc | The consideration is US$650 million (approximately £418.37 million), payable in cash. | |
29 April 2013 | Lloyds Banking Group plc | The consideration is EUR84 million (approximately £72 million), payable in shares and cash. | |
17 April 2013 | CPPGroup Plc | The consideration is US$40 million (approximately £26.1 million). CPPGroup Plc (CPP) intends to engage in further discussions with its lenders and Mr Hamish Macgregor Ogston CBE with a view to putting in place a funding plan for CPP following expiry of its amended facility. For further information, see What's Market, Hamish Macgregor Ogston CBE possible offer for CPPGroup Plc. | |
15 April 2013 | C.A. Sperati (The Special Agency) PLC | The consideration is £446,000. | |
5 April 2013 | Independent News & Media PLC | The consideration is R2 billion (approximately £144.54 million). | |
28 March 2013 | InterContinental Hotels Group PLC | The consideration is £301.5 million. | |
26 March 2013 | Legal and General Group Plc | Acquisition of remaining 75% interest in Cofunds Holdings Ltd | The consideration is £131 million, payable in cash. |
25 March 2013 | Shire plc | The consideration is £105.59 million, with possible further undisclosed payments. | |
25 March 2013 | Afren plc | Class 1 acquisition of further 10.4% interest in First Hydrocarbon Nigeria Limited | The consideration is US$37.05 million (approximately £24.41 million), payable in cash. |
Date of announcement | Company | Deal | Points to note |
15 May 2013 | Noventa Limited (AIM) | Noventa Limited proposes to implement a capital reorganisation by sub-dividing the ordinary shares into new ordinary shares and redesignating some of the new ordinary shares into deferred shares. | |
9 May 2013 | Mercom Oil Sands Plc (AIM) | Mercom Oil Sands Plc proposes to implement a capital reorganisation by consolidating the existing ordinary shares and subsequently sub-dividing each consolidated share into new ordinary shares and deferred shares. | |
8 May 2013 | CEPS PLC (AIM) | CEPS PLC proposes to implement a capital reorganisation by consolidating the existing ordinary shares and subsequently sub-dividing each consolidated share into new ordinary shares. | |
8 May 2013 | Kryso Resources Plc (AIM) | New holdco scheme of arrangement involving a reduction of capital | Introduction of Kryso Resources Corporation Limited as holding company of Kryso Resources Plc by scheme of arrangement involving a reduction of capital. |
7 May 2013 | Central Rand Gold Limited (Main Market) | Central Rand Gold Limited proposes to implement a capital reorganisation by redesignating some of the existing ordinary shares into deferred shares. | |
3 May 2013 | Superglass Holdings plc (Main Market) | Superglass Holdings plc (Superglass) proposes to implement a capital reorganisation by sub-dividing the existing ordinary shares into ordinary shares and deferred shares and then consolidating the post-sub-division ordinary shares into new ordinary shares. Superglass is also proposing to effect a placing to raise £12.2 million (net) (see What's Market, Superglass Holdings plc placing), a debt for equity swap (see What's Market, Superglass Holdings plc debt for equity swap (2013)) and its de-listing from the Official List of the Main Market and transfer to AIM (see What's Market, Superglass Holdings plc de-listing (transfer to AIM)). | |
3 May 2013 | Petroceltic International plc (AIM) | New holdco scheme of arrangement and consolidation of share capital | Introduction of Petroceltic plc as holding company of Petroceltic International plc by scheme of arrangement under section 201 of the Irish Companies Act, involving a reduction of capital, and subsequent share consolidation. Petroceltic International plc also intends to transfer to the Official List from AIM (see What's Market, Petroceltic plc transfer from AIM). |
1 May 2013 | Helphire Group plc (AIM) | Helphire Group plc proposes to effect a capital reduction by cancelling its share premium account and deferred shares. | |
25 April 2013 | Randall & Quilter Investment Holdings plc (AIM) | Randall & Quilter Investment Holdings plc proposes to effect a redomicile by the insertion of Randall & Quilter Investment Holdings Ltd (Randall Bermuda), incorporated in Bermuda and tax resident in the UK, as the new holding company for the group. | |
15 April 2013 | Daisy Group plc (AIM) | Daisy Group plc proposes to effect a capital reduction by cancelling its share premium account and capital redemption reserve. | |
3 April 2013 | Environmental Recycling Technologies plc (AIM) | Environmental Recycling Technologies plc proposes to implement a capital reorganisation by consolidating the existing ordinary shares and subsequently sub-dividing the new shares into ordinary and deferred shares. | |
27 March 2013 | Rockhopper Exploration plc (AIM) | Rockhopper Exploration plc proposes to effect a capital reduction by cancelling its share premium account. | |
26 March 2013 | Progressive Digital Media Group plc (AIM) | Reduction of capital and consolidation and sub-division of share capital | Progressive Digital Media Group plc proposes to effect a capital reduction by cancelling its share premium account and to implement a capital reorganisation involving consolidation of the existing ordinary shares and then sub-dividing each new consolidated share. |
Date of announcement | Company | De-listing | Points to note |
17 May 2013 | Silanis International Limited | Cancellation is anticipated to occur on 24 June 2013. | |
16 May 2013 | Rugby Estates plc | Cancellation is anticipated to occur on 18 June 2013. | |
10 May 2013 | Hasgrove plc | Cancellation is anticipated to occur on 12 July 2013. Hasgrove plc also intends to return £10.25 million to its shareholders by way of a tender offer (see What's Market, Hasgrove plc tender offer). | |
3 May 2013 | Superglass Holdings plc | Cancellation is anticipated to occur on 4 June 2013. Superglass Holdings plc also intends to effect a placing to raise £12.2 million (net) (see What's Market, Superglass Holdings plc placing), a capital reorganisation (see What's Market, Superglass Holdings plc: sub-division and consolidation of share capital) and a debt for equity swap (see What's Market, Superglass Holdings plc debt for equity swap (2013)). | |
3 May 2013 | ORA Capital Partners Limited | Cancellation is anticipated to occur on 7 June 2013. | |
17 April 2013 | Yujin International Ltd | Cancellation is anticipated to occur on 17 April 2013. | |
8 April 2013 | Sherborne Investors (Guernsey) B Limited | The directors intend to apply for admission of Sherborne investors (Guernsey) B Limited’s shares to trading on the Specialist Fund Market. Cancellation is anticipated to occur on 7 May 2013. | |
28 March 2013 | VSA Capital Group plc | Cancellation is anticipated to occur on 30 April 2013. | |
26 March 2013 | West Pioneer Properties Ltd. | Cancellation is anticipated to occur on 13 May 2013. | |
22 March 2013 | Turbotec Products plc | Cancellation is anticipated to occur on 1 May 2013. |
Date of announcement | Company | Deal | Points to note |
14 May 2013 | International Consolidated Airlines Group, S.A. (Main Market) | The bond issue is valued at EUR390 million (approximately £329.73 million). The bonds will be traded on the Professional Securities Market. | |
4 October 2012 | Gulf Keystone Petroleum Ltd. (AIM) | The bond issue is valued at US$275 million (approximately £169.92 million). The bonds will be traded on the Professional Securities Market. |
Date of circular | Company | Deal | Points to note |
30 April 2013 | Green Dragon Gas Ltd. (AIM) | Demerger by Green Dragon Gas Ltd. of Greka Engineering & Technology Ltd., by way of a dividend in specie. | |
13 February 2013 | Redstone PLC (AIM) | Demerger by Redstone PLC of its network based managed services business from the infrastructure solutions business, to a new AIM quoted company called Redcentric. The demerger is structured as a three cornered reduction of capital, including a share consolidation and dividend in specie. |
Date of admission to trading | Company | Deal | Points to note |
3 May 2013 | Petroceltic plc | Admission is anticipated to occur on 27 June 2013, following its reorganisation (see What's Market, Petroceltic International plc: new holdco scheme of arrangement and consolidation of share capital). | |
1 May 2013 | Tyman plc | Admission is anticipated to occur by late June 2013. Tyman plc also intends to effect a firm placing and a fully underwritten placing and open offer of new shares to raise £65.5 million (net) (see What's Market, Tyman plc firm placing, placing and open offer). |
Date of announcement | Parties | Deal | Points to note |
13 May 2013 | Grainger plc (Main Market) Dorrington PLC | The joint venture is intended to acquire a portfolio of South London residential property. The deal value is £111 million. | |
26 April 2013 | Capita plc (Main Market) The Cabinet Office | The joint venture is intended to help deliver and commercialise the UK government's portfolio of best management practice training tools and services. The deal value is £38.2 million. | |
3 April 2013 | Interserve plc (Main Market) Tiger Developments | The joint venture is intended to develop the Haymarket area of Edinburgh. The deal value is £160.5 million. | |
2 April 2013 | Quintain Estates & Development plc (Main Market) Oaktree Capital Management L.P. | The joint venture is intended to help fund Quintain Estates and Development plc's regeneration project in Wembley, to reduce its net debt to below £400 million and to participate in the potential upside from the Wembley Hilton hotel's maturing business profile. The deal value is £30.1 million. |
Date of announcement | Company | Deal | Points to note |
3 May 2013 | Superglass Holdings plc (Main Market) | Superglass Holdings plc is also proposing to effect a placing to raise £12.2 million (net) (see What's Market, Superglass Holdings plc placing), a capital reorganisation (see What's Market, Superglass Holdings plc: sub-division and consolidation of share capital) and its de-listing from the Official List of the Main Market and transfer to AIM (see What's Market, Superglass Holdings plc de-listing (transfer to AIM)). | |
28 February 2013 | Helphire Group plc (Main Market) | Helphire Group plc is also proposing to refinance the company by launching a firm placing and a placing and open offer to raise £25.6 million (see What's Market, Helphire Group plc firm placing, placing and open offer) and transferring to AIM (see What's Market, Helphire Group plc delisting (transfer to AIM)). |
For details of the recent summaries of AGM notices published on What's Market, see: