bidding | Common News Update

Jan212021 by adminNo Comments

Next ditches TopShop offer amid bidding frenzy

Business

Next has pulled out of the bidding for TopShop as the auction of Sir Philip Green’s former high street empire enters its closing stages.Sky News has learnt that a consortium comprising Next and Davidson Kempner Capital Management, a US investment firm, have withdrawn from a process being run by Arcadia Group's administrator. The surprise move comes days after Next and a handful of rivals tabled final offers for TopShop, with a separate process being run for other Arcadia brands such as Burton and Dorothy Perkins. Image: Next had tabled a final offer In a statement issued to Sky News on Thursday evening, a Next spokesman said: "Next plc announces that it has withdrawn from the process to acquire any, or all, of the Arcadia Group from t...

Aug252020 by adminNo Comments

Vistara launches scheme allowing passengers to upgrade seats through bidding system

Finance

New Delhi: Vistara said on Tuesday that it had collaborated with a Canada-based firm to launch a new scheme that allows passengers to put in bids to upgrade their seats to superior classes in flights. The new scheme is a way "to offset revenue losses experienced in 2020" and "leverage the higher capacity in superior cabins", the airline said in a statement. Once a passenger has purchased an economy or a premium economy class ticket, all he or she has to do is make an offer for a seat in the higher cabin class seven days prior to the flight's departure, Vistara told its passengers through an email on Monday. "If your offer is accepted, you will be informed before your departure," it stated. "With support from Plusgrade, more passengers will have access to the personal space, comfort, pri...

Aug92020 by adminNo Comments

Apollo on mission to join £3bn AA bidding war

Business

The American investment firm Apollo Global Management is weighing a £3bn takeover bid for the AA, Britain’s biggest roadside recovery service.Sky News has learnt that Apollo, co-founded by Leon Black, one of Wall Street's financiers, has joined a trio of rival bidders in approaching the debt-laden company. Sources said this weekend that Apollo had informed the AA's board of its interest in making an offer, although it is said to be less advanced in its work than the other private equity funds.This week, the AA confirmed that it was in takeover talks with three prospective bidders: a consortium of Centerbridge Partners and Towerbrook Capital Partners; Platinum Equity; and Warburg Pincus.The AA, which has about 3.2 million motorists as members, used to style itself as "Britain's fourth emerg...

Feb272018 by adminNo Comments

US media giant enters bidding war for Sky

Business

Comcast has raised the prospect of a bidding war for Sky, the owner of Sky News, by announcing plans for a £22.1bn takeover offer.The US cable operator confirmed its interest in taking a majority stake as a 21st Century Fox deal to buy the 61% of Sky it does not already own remains held up by regulatory clearances.Comcast said its possible all-cash offer of £12.50 per Sky share represented a premium of 16% on the current Fox terms, which value Sky at £18.5bn.The announcement saw Sky's share price soar. It closed the day up 20.4% at £13.30.Comcast's interest further complicates the uncertainty over Sky's future ownership as Fox has agreed to sell its entertainment assets to Disney - including its 39% Sky stake - for $ 52bn (£37bn).Video:Murdoch: Fox 'returning to roots' Brian Roberts, chief...