Blackstone , the
private equity group, has shattered the record for the largest ever leveraged
buy-out, with a successful $38.9bn (£19.7bn) bid for
Equity Office Properties
, the biggest commercial property group in the US.
The deal, sealed after rival bidder Vornado Realty Trust dropped out of the
race, outstripped the the previous $33bn record set by a consortium of firms who
bought HCA, the US hospital chain,
The Blackstone deal is a landmark for the global private equity industry,
which is beoming ever more powerful in the world economy.
Vornado pulled out of the deal becuase the price offered by Blackstone was
simply to high to justify to Vornado stock holders.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.