Flurry of M&A provides Xmas cheer for traders

first_img Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndo whatsapp whatsapp BRITISH companies led a whirlwind of buyout deals yesterday, in a sign of emerging confidence in the M&A market ahead of the Christmas break. London-listed household goods group Reckitt Benckiser bagged privately-held personal care company Paras Pharmaceuticals for around $726m (£460m) yesterday, while oil services firm Wellstream finally agreed to be taken over by General Electric for £800m, pending shareholder approval. Also in the oil services sector, Wood Group shares rose 6.7 per cent after it shelled out $955m to buy out unlisted Scottish rival PSN in a deal which will make Scottish entrepreneur Tom Hunter around £30m. UK chemicals maker Yule Catto said yesterday it plans to spend €443m (£376m) on latex producer PolymerLatex, which it hopes to finance with a £225 rights issue. Elsewhere, pharmaceutical giant GlaxoSmithKline spent £162m on Maxinutrition, a privately owned protein drinks firm. News of the deals helped lift the markets, with the FTSE 100 gaining 0.8 per cent to close at 5860.75. “There are a lot more pre-emptive approaches this year, for particular assets or unlisted companies, that are definitely a sign of confidence in the market,” said Neil Sutton, head of corporate finance at PricewaterhouseCoopers. However, Allen & Overy head of corporate Andrew Ballheimer said: “Nobody will be getting carried away on the back of a few deals being announced simultaneously.” He added: “M&A activity is likely to remain patchy, as it has been throughout the fourth quarter, as long as doubts about the euro and sovereign debt linger.” Sharecenter_img Monday 13 December 2010 9:36 pm Flurry of M&A provides Xmas cheer for traders More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org KCS-content Tags: NULLlast_img

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