Deals
M&A Hunters Target London for Some of World’s Cheapest Firms
- Hotel Chocolat, City Pub Group are latest takeover targets
- ‘We’ll definitely see more bids,’ says Rathbones fund manager
This article is for subscribers only.
Some of the world’s lowest equity valuations are raising the prospect of a spree of takeover deals among the UK’s small and mid-cap companies.
M&A activity burst into life in the City of London on Thursday with three new deals. US candy manufacturer Mars Inc. has made an offer for Hotel Chocolat Group Plc at a hefty 170% premium, while Young & Co.’s Brewery Plc has agreed to buy smaller rival The City Pub Group PLC at nearly 50% above its closing share price.