Tag: Bid

06
Oct
2020
Posted in technology

Singapore firm’s Newcastle bid in new turmoil as exec quits

A top executive at a Singapore firm seeking to buy Newcastle United has quit after police launched a probe into his activities, the company said Wednesday, the latest turmoil for the bid.

Bellagraph Nova Group, founded by two Singaporean entrepreneurs and a Chinese business partner, announced in August it was in “advanced talks” to buy the English Premier League team.

But the bid became mired in controversy over allegations that photos had been doctored to show the trio meeting with former US president Barack Obama, and other inconsistent claims.

Police then began investigating a company linked to Singaporean co-founders Terence and Nelson Loh, after an accounting firm lodged a report over unauthorised signatures on the group’s financial statements.

BN Group said in a statement that Terence Loh has now quit the firm to try and resolve the issues related to the police probe into Novena Global Healthcare.

Singapore’s Straits Times newspaper previously reported that he denied wrongdoing.

The statement also stressed that BN Group is not “linked to Novena Global Healthcare and its forged financial statements”. 

Despite growing doubts about the bid, the firm’s Chinese co-founder Evangeline Shen insisted last week BN Group was still serious about the plan.

She said the company’s team recently met a representative of Newcastle’s owner to discuss the bid, reported to be worth 280 million pounds ($360 million).

BN Group’s bid came after a Saudi-backed consortium withdrew its offer to buy Newcastle in late July, following a months-long wait for Premier League approval.

The company has said it oversees 31 business “entities” worldwide, with a group revenue of $12 billion last year and 23,000 employees.

Regulators have also announced investigations into several firms linked to the Lohs, who are cousins.

mba/sr/dh

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04
Oct
2020
Posted in technology

Larry Ellison’s TikTok bid puts Oracle chairman back in the spotlight

Oracle Corp. co-founder Larry Ellison’s pursuit of a deal with TikTok could win him two prizes at once: a flashy new customer for his company’s lagging cloud-computing business and a victory over a fierce rival.

Mr. Ellison, 76 years old and chairman of the company, has reason to be a big fan of Chinese-owned TikTok, a video-sharing app famously beloved by young people. But first Oracle, TikTok and their partners have to get a deal done that could return the business-software company to the center of the tech world.

Mr. Ellison maneuvered Oracle ahead of Microsoft Corp. in the race to become TikTok’s U.S. tech partner, and personally lobbied President Trump to sign off on a preliminary agreement, people familiar with the talks said.

VIRAL TIKTOK VIDEO BOOSTS FLEETWOOD MAC’S 1977 SONG ‘DREAMS’ ON STREAMING SERVICE CHARTS

Under the current deal terms, Oracle and Walmart Inc. would take a combined 20% stake in a new U.S.-based TikTok. Oracle would guarantee the security of U.S. user information to satisfy White House concerns that China’s government might get access to such data. But the parties, including TikTok’s Beijing-based owner, ByteDance Ltd., are still finalizing their agreement and need approval from both the U.S. and Chinese governments.

Oracle hasn’t said what it would pay for its planned 12.5% stake, though based on estimates for TikTok’s total valuation the investment could top $7 billion. An initial public offering of TikTok in the U.S., which the preliminary deal says would happen within a year, could return some of that money.

Winning the TikTok contest would pay other dividends for Mr. Ellison, most significantly boosting Oracle’s efforts to gain traction in the hot

02
Oct
2020
Posted in seo

How to bid on your brand name based on incrementality

Solving an age-old SEO-PPC issue: How to bid on your brand name based on incrementality






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01
Oct
2020
Posted in technology

Drahi’s Bid to Take Altice Private Gets Shareholder Complaint

Hedge fund Lucerne Capital, an investor in Altice Europe NV, has raised objections to billionaire Patrick Drahi’s plan to take the company private, saying his offer undervalues the company.

Altice’s founder and largest shareholder made an offer Sept. 11 to pay 4.11 euros a share through his Next Private vehicle, valuing the entire company at 4.9 billion euros. That represented a 24% premium over the previous day’s closing price.

The offer represents a “significant discount” to the shares, and is designed to squeeze out minority investors, the hedge fund wrote in a letter to the French telecommunications company’s board Thursday.

The telecom's debt load has stoked price volatility

Lucerne Capital, founded in 2000, said it represents funds owning about 94 million euros of Altice Europe shares.

A representative for Altice didn’t immediately respond to a request for comment.

“Mr. Drahi is using the temporary lull in the share price, caused by Covid-19, to unlock the huge upside in value for himself and others with equity exposure only, to the detriment of the minority shareholders,” the hedge fund wrote.

Patrick Drahi

Photographer: Richard Drew/AP Photo

Read More: Billionaire Drahi’s Altice Bid Smacks of Opportunism: Alex Webb

The stock could more than triple to 15 euros, Pieter Taselaar, Greenwich, Connecticut-based Lucerne Capital’s founder, said in November. After five years of price wars in the French telecommunications market, all players are getting more rational on pricing, he said at the time.

Lucerne also raised issues on Thursday about the potential for the minimum acceptance level of 95% to be waived and an information imbalance between Drahi and other investors.

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