FT News Briefing Wednesday, November 27
Nov 27, 2019
Xerox plans to take its $33 billion bid for HP directly to shareholders, raising questions about market control and leadership. Nasdaq is set to outpace the New York Stock Exchange in IPOs this year. Meanwhile, Manchester City’s owner has struck a record-breaking $500 million deal with Silver Lake. In China, renewable energy efforts are faltering, causing concern ahead of UN climate discussions, as the nation grapples with balancing economic growth and environmental responsibilities.
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Xerox's Direct Appeal to HP Shareholders
- Xerox is courting HP shareholders directly after its $33 billion takeover bid was rejected.
- Carl Icahn, an activist investor with stakes in both companies, orchestrated this move.
Nasdaq vs. NYSE
- Nasdaq is poised to outpace the New York Stock Exchange in listings this year, a feat not seen since 2012.
- This shift is driven by Nasdaq securing more smaller listings, while the NYSE typically handles larger IPOs.
Silver Lake's Record Investment
- Silver Lake's $500 million stake in Manchester City's owner values the group at a record-breaking $4.8 billion.
- This investment will fuel City Football Group's global expansion plans, including acquiring more clubs.