Ashtead walks away from Lavendon

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.commoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmMisterStoryWoman files for divorce after seeing this photoMisterStoryGameday NewsNFL Hall Of Famers Who Probably Don’t Deserve To Be In CantonGameday NewsLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsMovie JewelThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightMovie Jewel Ashtead walks away from Lavendon whatsapp whatsapp Tuesday 18 January 2011 7:10 pm KCS-content center_img Share Show Comments ▼ INDUSTRIAL hire firm Ashtead and Belgium’s TVH Services walked away from its bid for Lavendon Group yesterday, ending a two-month-long battle for control of the British rental-equipment firm.The news sent Lavendon shares down 11 per cent to 97.25p, making them the top percentage losers on the London Stock Exchange, as investors feared few other buyers would emerge in a depressed construction market.On the day before TVH’s initial bid was made public, the stock had closed at 79p. Ashtead shares were up seven per cent at 170.3, and were among the top risers.“With few other likely buyers, we believe Lavendon will now trade closer to fundamental valuations once again,” said Panmure Gordon analyst Paul Jones.Lavendon had rejected the sweetened £189m Ashtead-TVH bid on 13 January, saying the sweetened offer undervalued it, a month after it rebuffed TVH’s £183m offer. Ashtead said the joint offer was subject to completion of confirmatory due diligence and a recommendation by Lavendon’s board.“Lavendon’s rejection means these pre-conditions cannot be fulfilled and as a result the joint acquirers will not proceed with an offer,” Ashtead said in a statement.Lavendon chairman John Standen said after the announcement: “I’m delighted that this uncertainty has been removed. We have a clear set of objectives to enhance shareholder value and Lavendon is very well positioned.” More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Tags: NULLlast_img read more

Meggitt buys parts maker for $685m

first_img whatsapp Show Comments ▼ KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Tuesday 18 January 2011 8:07 pm Tags: NULL whatsapp Share AEROSPACE engineer Meggitt is to buy Pacific Scientific Aerospace (PSA), which manufactures fire extinguishers and aircraft parts, for $685m (£431m) in cash, it said yesterday.Dorset-based Meggitt will use a 69.8m share placement, equivalent to about 10 per cent of total share capital, to raise about £255m to fund the deal. The remaining £176m will be funded using debt, it said, adding that the acquisition is expected to be earnings enhancing immediately.Meggitt chief executive Terry Twigger said the acquisition was a “further major step” in the group’s strategic growth, and would fill specific gaps in Meggitt’s product lines.PSA’s fire suppression products will fit with Meggitt’s fire detection systems to enable them to sell combined units that customers have been asking for, he said. It will widen the number of aircraft models Meggitt can supply, and brings expertise in new electric aircraft systems to replace the older hydraulic systems that Meggitt already supplies.The share placement is the second Meggitt has used to fund an acquisition after it bought US firm K&F Industries in 2007 for $1.8bn.Meggitt has consistently said it does not want to take on a debt ratio of greater than 3.5 times overall earnings. At its last interim results debt was 2.3 times earnings. It estimates it will have a 2.5 times debt to earnings ratio by 30 June this year, which will fall to two times by 31 December.ROBERT LEITÃOROTHSCHILDROTHSCHILD’S head of investment banking, Robert Leitão, is an expert in M&A deals, particularly those involving public companies.Since joining the bank in 1998 from Morgan Grenfell, where he spent nine years, he has built Rothschild’s M&A arm to be the City’s top M&A bank by number of transactions, specialising in deals in the mid-market range. Among his most prestigious recent deals is the huge $9.6bn (£6bn) sale of a majority stake in Cairn Energy’s Indian arm to Vedanta Resources, which required agreement from the Indian government to secure. Other deals include Babcock’s £1.32bn acquisition of VT group in March; investment fund Melrose’s $855.6m disposal of McKechnie Aerospace in 2007, and Thales’ £51m takeover of data security firm nCipher in 2008, among others. A chartered accountant, Leitão qualified at Peat Marwick Mitchell (now KPMG) and holds an engineering degree from Imperial College London. He is working with Ravi Gupta at Rothschild to advise Meggitt. Meggitt buys parts maker for $685m last_img read more

Growth for Eurozone’s industry

first_img Industrial new orders in the Eurozone were up by 0.1 per cent in January, month by month. Excluding volatile items, new orders were up 1.6 per cent. Compared with January 2010, industrial new orders grew by 20.9 per cent in euro area. Across the wider European Union area, new orders were up 0.2 per cent in January, compared to December – an annual rise of 18.6 per cent, and 1.9 per cent month on month when excluding volatile items. Among member states, Denmark, Latvia, and Bulgaria registered the highest increases. Estonia, France and Finland registered the largest falls in new orders. Growth for Eurozone’s industry KCS-content whatsapp Tags: NULL Show Comments ▼ More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comcenter_img whatsapp Wednesday 23 March 2011 8:14 pm Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBePeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayDrivepedia20 Of The Most Underrated Vintage CarsDrivepediamoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldlast_img read more

IMF urges faster US cuts

first_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com IMF urges faster US cuts Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Show Comments ▼ Tuesday 12 April 2011 8:49 pm Sharecenter_img KCS-content Tags: NULL THE INTERNATIONAL Monetary Fund (IMF) has urged the United States to come up with credible measures to reduce its record budget deficit, heaping pressure on the White House.President Barack Obama will today outline fresh plans for reducing the nation’s debt, which is on track for hitting $1.4 trillion (£857bn) this year, as he attempts to seize the high ground in a debate with Republicans over how best to cut costs.But the IMF said in its latest ‘Fiscal Monitor’ report that a further delay of action to cut the country’s deficit could be “fiscally costly”. It added that a “major” adjustment will be needed next year to put the budget back on track. The US posted a monthly budget deficit of $188bn (£115.5bn) in March, the Treasury Department reported yesterday. The deficit will reach 10.8 per cent of its gross domestic product this year, the largest among major developed economies. whatsapplast_img read more

Rush Street venues launch sports betting in Pennsylvania

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Pennsylvania’s two Rush Street Gaming-operated casinos have launched sports betting after successfully completing test launches last week.The SugarHouse Casino in Philadelphia and Rivers Casino in Pittsburgh officially launched, following ten-hour testing periods on December 13 and 14.With the Pennsylvania Gaming Control Board satisfied that the two-day test went without a hitch, each venue was approved to officially open their Kambi-powered sportsbooks on Saturday, December 15.Each venue currently hosts a temporary sports betting facility, with permanent lounges currently under construction and expected to open their doors in the first quarter of 2019.SugarHouse hosts an 1,800 square foot facility, while Rivers, which is operated by Rush Street and owned by joint venture partners Walton Street Capital and High Pitt Gaming, has opened a 3,000 square foot lounge.They become the second and third venues approved to launch sports betting in the state following Penn National Gaming’s Hollywood Casino, which launched its William Hill-powered offering in November.The trio is likely to be joined by Greenwood Gaming’s Parx Casino, another Philadelphia-based venue that is closing in on a launch, in the coming weeks. 17th December 2018 | By contenteditor Rush Street venues launch sports betting in Pennsylvania Philadelphia’s SugarHouse Casino and the Pittsburgh-based Rivers Casino become second and third venues to launch legal wagering Topics: Sports betting Sports betting Email Addresslast_img read more

Wynn partners Scientific Games for betting and igaming

first_img Wynn partners Scientific Games for betting and igaming Subscribe to the iGaming newsletter Email Address 17th April 2019 | By contenteditor Topics: Sports betting Strategy Tech & innovation AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Scientific Games has agreed a deal to support Las Vegas-based casino giant Wynn Resorts with its roll out of digital sports betting and online gaming services in the US market.Terms of the agreement have not been disclosed, but Wynn has said that it intends to initially launch its new offering only in the regulated New Jersey market.Scientific Games will provide Wynn with a sports betting and igaming system, in addition to its managed sports trading service and content aggregation system that features more than 2,000 digital games.Wynn is yet to make any major moves in the expanded legal sports betting sector in the US, but did enter into a strategic partnership with BetBull in October in an effort to pursue opportunities. Wynn took a 22.5% stake in the Europe-based digital sports betting operator as part of the deal.Scientific Games, on the other hand, has secured deals with a number of leading operators in the wake of the Supreme Court overturning the Professional and Amateur Sports Protection Act in May last year. Ahead of the decision, it significantly enhanced its sports betting and igaming capabilities with its CAD$775m acquisition of NYX Gaming Group, including OpenBet.In January, Caesars Entertainment went live in Pennsylvania with a Scientific Games-powered sports betting offering, having also jointly rolled out similar services at its Bally’s Wild Wild West and Harrah’s Atlantic City sites in New Jersey last July.Caesars has also launched SG Digital’s Managed Trading Service solution in both New Jersey and Mississippi, made possible by Scientific Games’ acquisition of US sports data provider Don Best Sports Corporation and the establishment of its sportsbook operations team.Scientific Games also powers sports betting for the Delaware Lottery and is working with Kindred Group in the US.Image: Jim G Tags: Online Gambling Regions: US New Jersey Scientific Games has agreed a deal to support Las Vegas-based casino giant Wynn Resorts with its roll out of digital sports betting and online gaming services in the US market. Sports bettinglast_img read more

Delaware sports betting revenue soars in October

first_img Topics: Finance Sports betting Licensed sports wagering operators in Delaware generated a collective $1.7m (£1.3m/€1.5m) in revenue in October, up by 287.1% on the same month last year.October was the second most successful month so far this year for sports betting in the state, despite revenue falling short of the $2.2m recorded in September.Players wagered a total of $9.6m on sports in the four weeks to October 27, down 34.5% from $14.7m in the same month last year, while the total number of bets also fell from 287,050 to 251,235. However, punters were less successful with betting, which meant operators’ hold increased.Delaware Park retained top spot in the state’s market, posting $1.8m in revenue and a handle of $6.1m. Revenue for the venue was up 124.4% year-on-year, but customer spend fell 43.5% from $11.5m last yearRead the full story on iGB North America.Image: Calstanhope Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Licensed sports wagering operators in Delaware generated a collective $1.7m in revenue in October, up by 287.1% on the same month last year. 14th November 2019 | By contenteditorcenter_img Finance Regions: US Delaware Email Address Delaware sports betting revenue soars in Octoberlast_img read more

Betway grows sponsorship portfolio with Hertha BSC

first_img Betway grows sponsorship portfolio with Hertha BSC 8th September 2020 | By contenteditor Topics: Marketing & affiliates Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Marketing & affiliates Online gambling operator Betway has announced German Bundesliga football club Hertha BSC as its latest commercial partner.The deal will run for an initial three years, until the conculsion of the 2022-23 season.Betway will become the official sports betting partner of the club and benefit from branding placement on electronic advertising boards inside the team’s Olympiastadion home stadium.“We are looking forward to having increased brand awareness among German fans thanks to our recent work with clubs in Germany’s top two divisions,” Betway chief executive Anthony Werkman said. “We have seized a unique opportunity to work with a club steeped in so much tradition.”Hertha BSC’s financial director Ingo Schiller added: “Betway has already proven itself to be a reliable partner through many years of involvement in the sports market. In the current uncertain climate, we recognise the value of such stability.”The deal comes after Betway last month also agreed partnerships with Spanish La Liga clubs Real Betis and RC Celta de Vigo.Betway also recently renewed a sponsorship agreement with Segunda División team CD Leganes for the 2020-21 season.center_img Regions: Europe Central and Eastern Europe Germany Email Address Subscribe to the iGaming newsletter Online gambling operator Betway has announced German Bundesliga football club Hertha BSC as its latest commercial partner.last_img read more

Nevada casino revenue declines to $743.0m in August

first_imgRead more on iGB North America. With casinos having been closed in late March and early June this year due to the virus, the revenue total was the lowest for a full calendar month since the state Gaming Control Board started publishing figures in December 2003. Subscribe to the iGaming newsletter Regions: US Nevada Nevada casino revenue declines to $743.0m in August Nevada casino revenue declined 1.7% month-on-month and 21.9% year-on-year to $743.0m in August, as low margins and the novel coronavirus (Covid-19) combined to keep revenue low. Topics: Casino & games Finance Slots remained the largest source of revenue, as players staked $8.11bn and casinos made $525.4m, down 14.7% year-on-year, or 3.9% from July. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter However, this was partly due to lower win rates than July across both slots and table games, as players staked a total of $9.99bn, up 7.7% from the previous month. 1st October 2020 | By Aaron Noy Finance Email Addresslast_img read more

EGBA slams Spanish advertising restrictions

first_img The European Gaming and Betting Association (EGBA) has offered a strong criticism of the Spanish government’s plan to significantly restrict gambling advertising in the nation. Regions: Europe Southern Europe Spain According to the AEA, ONCE is eleventh in the list of all companies who spent the most on advertising last year, spending €49m (£44.2m/$57.3m), over a third of the €145.6m spent in total by the gambling industry. Tags: EGBA European Gaming and Betting Association 30th October 2020 | By Conor Mulheir These restrictions also drew criticism from online operator association JDigital, which raised many of the concerns that EGBA brought up. Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter “The restrictions clearly discriminate against private companies and favour the economic interests of the state-run lotteries, who are by far the country’s leading advertisers in the gambling sector. And while EGBA fully supports responsible advertising, the scope and type of restrictions proposed are not justified by the evidence available.” In a statement yesterday (29 October), the association claimed that the measures are not driven by the available evidence, and potentially conflict with EU state aid rules. “We urge the Spanish government to reconsider its advertising restrictions because there is a lack of data to support the measures and the granting of advertising privileges to state-run companies over private ones could potentially be in conflict with EU state aid rules,” Maarten Haijer, secretary general of EGBA, said. Marketing regulationcenter_img EGBA slams Spanish advertising restrictions EGBA also claims the restrictions are not evidence led, pointing to a recent study by the University of Madrid showing a problem gambling rate of 0.3% in the country, one of the lowest rates worldwide. Furthermore, evidence from the AEA showed that gambling ranks fifteenth among other advertising sectors for the number of citizens who remembered having seen or heard an advert. After pledging to do so last year, Spain has tightened its advertising restrictions throughout 2020, first introducing measures in February including the restricted hours for advertising on radio and TV, with some exceptions made for advertising around live sports broadcasts and real-money contests. EGBA claimed that the proposed restrictions, namely the banning of all sports sponsorships and audiovisual advertising by gambling companies outside the hours of 1:00AM-5:00AM, conflict with EU rules due to an exemption made for state-run lottery companies, ONCE and SELAE. These restrictions were subsequently included in regulations which were sent to the European Commission for approval long-term. Yesterday, the nation’s Ministry of Consumer Affairs wrote to football teams in its top division, La Liga, to inform them that any existing gambling sponsorships must be cancelled no later than the end of the 2020-21 season. EGBA recently published guidelines for online gambling companies to promote safer gambling and responsible advertising during the novel coronavirus (Covid-19) pandemic. The restrictions were subsequently amended in April in what was intended as a temporary response to the Covid-19 pandemic, with additional measures including the prohibition of bonuses and sports sponsorships. EGBA argued that the exemption was discriminatory towards private companies, pointed to evidence that the lotteries account for 65% of Spain’s gambling market revenue, and at least 34% of the country’s gambling advertising spend, according to the Spanish Association of Advertisers (AEA). Topics: Marketing & affiliates Marketing regulation Sponsorship Email Addresslast_img read more