Latest Integration Associates News
Credit Crisis
The recent disclosure that a number of Private Equity bidders may have been excluded from the bidding for the Insurance assets of Royal Bank of Scotland (RBS) amply illustrates the extent of the current challenge for the sector. Faced with a shortage of debt providers willing to underwrite major acquisitions, the prized asset in...more
14th May 2008
'Servo' open for business
On April 1st 2008 the 'new' Servo opened its doors for business for the first time. With a turnover approaching £100m the 'new' Servo starts life with over 3,100 active customers and has a scale and potential market influence never previously enjoyed by either of its predecessors. Servo is positioned to exploit...more
28th Apr 2008
Have your cake and eat it!
Given the overwhelming evidence that returns to acquiring-firm shareholders are generally negative, have you ever wondered why large institutional holders of acquisitive company stock vote through deals, that on the surface reduce the value of their holding? Recent research* provides a clue to this apparent anomaly. * ...more
8th Oct 2007
Is the deal well drying up?
' US' sub-prime mortgage collapse, global money market liquidity crisis and a UK bank run! Not a great environment to be looking to syndicate debt for the current deal pipeline even worse for raising new debt to finance future deals. With a new dawn comes a new opportunity, or a chance for the Private Equity to illustrate its true...more
18th Sep 2007
End of the road for Barclays?
Is is the end of the road for Barclays? More bad news for Barclays in its proposed friendly merger with ABN Amro? Not only has RBS intervened with its alliance partners to spoil the proposed merger but it now seems Atticus Capital, a hedge fund with a holding of Barclays shares, has suggested it should abort its all share €65bn...more
12th Jun 2007