Investors win big in £30bn Sky takeover – and boss Jeremy Darroch could pocket £40m. Hedge funds, advisers and thousands of ordinary shareholders are poring over the spoils from the £30billion take-over battle for Sky (SKY). Chief executive Jeremy Darroch is also in line for a jackpot of almost £40million following the two-year fight for the company between Rupert Murdoch’s 21st Century Fox and US giant Comcast. Sky shares have more than doubled, generating a windfall worth billions of pounds.
Worldpay’s boss Philip Jansen in line for top job at BT Group (BT.A) as Patterson departs. The departing boss of debit card payments processor Worldpay Group (WPG) looks set to take the top job at BT. Philip Jansen is understood to be BT’s preferred candidate to replace Gavin Patterson who is stepping down this year following a prolonged share price slump. The 51-year-old floated Worldpay on the stock market in 2015 before it was taken over by Vantiv for £9billion last year.
Hedge funds’ £1bn jackpot in battle for Sky (SKY): As bidding war sends shares soaring, three key investors with 10% stake are set to make a fortune. A cluster of powerful hedge funds stand to make a profit of more than £1billion from the sale of FTSE 100-listed broadcasting giant Sky after a bidding war sent the shares soaring. Last night, a high-stakes showdown saw Comcast emerge as the winner of the battle for Sky with an offer of £17.28 per share, triggering a huge windfall for investors. Sky shares were trading at as little as 925p just one year ago. Baupost, Elliott and Odey Asset Management have built a combined stake of almost 10% in Sky, according to stock market disclosures.
Has Ryanair chief asked BA boss to take over his job? O’Leary and Walsh held secret lunch at London restaurant, book claims. Controversial Ryanair Holdings (RYA) boss Michael O’Leary held a secret meeting with his counterpart at British Airways owner International Consolidated Airlines Group SA (CDI) (IAG), sparking rumours he may be scouting for a heavy hitter to take over his job, a new book reveals. The meeting with Willie Walsh at a London restaurant in July was quickly followed by speculation at Ryanair’s head office that O’Leary was on the brink of stepping down as chief executive at the end of his current five-year deal next year. Last week the billionaire boss – known as much for his colourful language as his business acumen – cast doubt on his future at a public meeting.
Police are set to probe RBS shareholder action group following our 12-month investigation. A controversial group set up by a fraudster to sue the Royal Bank of Scotland Group (RBS) is facing a police probe following a 12-month Mail on Sunday investigation. The Ministry of Justice is preparing to hand the City of London Police a dossier on the RBoS Shareholders Action Group, co-founded by businessman Gerard Walsh. This paper has revealed he was named as a fraudster in Jersey Royal Court in 2014. The group was set up to sue RBS on behalf of 7,000 small investors who felt duped into buying shares in a doomed 2008 rights issue.
