Latest news with #Advent
Bloomberg
6 days ago
- Business
- Bloomberg
Eaton Agrees to Buy Defense Group Ultra PCS for $1.6 Billion
Eaton Corp. agreed to buy defense and aerospace systems company Ultra Precision Control Systems from private equity firm Advent. Eaton will pay $1.55 billion for the Cheltenham, England-based business to boost its portfolio in both military and civilian aircraft, it said in a statement Monday. The transaction is expected to be accretive given Ultra PCS's strong growth and high margins, according to the statement.
Reuters
13-06-2025
- Business
- Reuters
UK's Spectris rejects second KKR takeover approach in favour of Advent's $5 billion proposal
June 13 (Reuters) - Britain's Spectris (SXS.L), opens new tab said on Friday it has rejected a second takeover proposal from private equity firm KKR, days after the scientific instruments maker backed a possible competing $5 billion bid from Advent. Spectris did not provide details on KKR's proposal, noting only that it was the second proposal by the PE firm it had rejected. The company, which provides hardware and software solutions to sectors such as pharmaceuticals, steel and automotive, said on Monday it would accept private equity firm Advent's proposal of 37.63 pounds per share if a formal offer was made. Advent and KKR did not immediately respond to Reuters' requests for comment. The competing proposal by KKR was first reported by the Wall Street Journal on Friday. Spectris is the largest takeover target this year in Britain, a country that has attracted overseas buyers in recent years due to relatively cheap valuations. Under UK takeover rules, KKR has until July 11 to make a formal offer or walk away.
Bloomberg
13-06-2025
- Business
- Bloomberg
Foreign Buyers in $10 Billion Scramble for UK Takeover Targets
Foreign buyers are feverishly snapping up UK companies at a time when London is struggling to maintain the size of its stock market and attract new listings. Almost $10 billion worth of deals targeting UK firms emerged on Monday alone this week, when US buyout firm Advent confirmed a £3.7 billion ($5 billion) takeover proposal for Spectris Plc, a maker of precision and testing equipment and software, and Qualcomm Inc. agreed a roughly $2.4 billion deal for London-listed semiconductor company Alphawave IP Group Plc. Both transactions carried premiums comfortably above 80%.
Pink Villa
12-06-2025
- Entertainment
- Pink Villa
Fire Force Season 3 Episode 11: Company 8 Inactive As Cataclysm Begins—Recap, Release Date, Where To Stream And More
Titled 'Advent,' the 10th episode of Fire Force Season 3 begins with Sho deciding to search for Shinra after their Adolla link. Arrow joins him despite his hesitation. Hibana submits her findings on Spontaneous Human Combustion and the failed Great Cataclysm, while Captain Obi shares news of support from other companies. Suddenly, Scop, the mole from the Chinese Peninsula (first seen in Season 2 Episode 7), arrives to warn that the Lady in Black foretold the next Cataclysm's arrival. He also mentions that the last one only failed because pi had not been calculated. Meanwhile, Sumire triggers a massive stone pillar to rise from Tokyo Bay, officially beginning the Cataclysm. Expected plot in Fire Force Season 3 Episode 11 Fire Force Season 3 Episode 11 will depict the Great Cataclysm's onset as the colossal stone pillar rises from the Pacific Ocean. While Shinra suggests mobilization, Company 8 will remain inactive due to being labeled traitors. A gigantic Infernal will appear beneath the pillar, prompting a response from Company 2 and Haijima Industries. The episode will feature several Fire Force members in battle, with a focus on Ogun Montgomery's flames. Faerie from the Great Cataclysm Execution team will also appear. The episode will likely also see Shinra defy orders and rush to confront the Infernal directly. Fire Force Season 3 Episode 11: Release date and where to stream Titled 'Great Kaiju Battlefront,' Fire Force Season 3 Episode 11 is set to premiere on June 14, 2025, at 1:53 am JST. However, international audiences may be able to stream it as early as June 13 due to time zone differences. According to the official anime website, Fire Force Season 3 Episode 11 will air in Japan on MBS, TBS, CBC, BS-TBS, and NBC and be available on Netflix. For viewers outside Japan and select Asian areas, it will stream on Crunchyroll. For more updates from the third season of the Fire Force anime, stay tuned to Pinkvilla.
Mint
11-06-2025
- Business
- Mint
Aditya Birla Capital shares rise nearly 3% to 52-week high despite Advent's partial stake sale worth ₹568 crore
Shares of Aditya Birla Capital surged nearly 3 percent in intraday trading on Wednesday, June 11, touching a fresh 52-week high of ₹ 249.80, even as private equity major Advent International partially exited its holding through a block deal. The transaction saw around 2.34 crore shares, equivalent to a 0.9 percent stake and valued at approximately ₹ 568 crore, change hands at ₹ 242.70 per share. According to media reports, Jomei Investments—Advent International's special purpose vehicle—had initiated a larger block deal a day earlier, on Tuesday, June 10. The deal was set to offload a 1.4 percent stake in Aditya Birla Capital, pegging the total transaction value at around ₹ 856 crore. The floor price for the deal was fixed at ₹ 237.80 per share, representing a 2 percent discount to the stock's closing price in the previous session. Despite the discounted pricing and sizeable deal, the stock remained resilient, reflecting continued investor confidence in the company's fundamentals and growth outlook. As of March 2025, Advent held a 3.84 percent stake in Aditya Birla Capital. The latest transaction marks a partial exit and the offloaded shares will be under a 30-day lock-in period. Advent originally invested ₹ 1,000 crore in 2020 through a preferential allotment of 10 crore equity shares at ₹ 100 each. Based on the current floor price of ₹ 237.80, Advent stands to clock an impressive return of 138 percent on its initial investment. Aditya Birla Capital's stock has been on a steady uptrend, rising 68 percent from its 52-week low of ₹ 148.75 touched in February 2025. In the past one year, the stock has delivered a 4 percent return. The momentum has picked up considerably in recent months, with gains of 11 percent in June alone. This follows a 13 percent rise in May, 6 percent in April, and an 18 percent surge in March. The only notable dip came in February, when the stock declined 13 percent. The company's solid financial performance has also underpinned investor optimism. For the quarter ended March 31, 2025, Aditya Birla Capital reported a consolidated net profit of ₹ 865 crore, reflecting a 6 percent year-on-year increase when adjusted for one-time gains. In the corresponding quarter of FY24, the firm had reported a net profit of ₹ 1,245 crore, which included exceptional income from a stake sale in its asset management business via an Offer for Sale. Excluding the one-off, the net profit stood at ₹ 812 crore. Total income for the fourth quarter of FY25 rose to ₹ 12,239 crore, up from ₹ 10,803 crore in the same period last year. The company's overall lending book, including NBFC and HFC segments, grew 27 percent YoY to ₹ 1,57,404 crore. Additionally, total assets under management (AUM) across its asset management, life insurance, and health insurance businesses climbed 17 percent YoY to ₹ 5,11,260 crore. The total premium collected from life and health insurance businesses also rose by 22 percent to ₹ 25,579 crore in FY25.
