The “debt-laden” AA is likely to be taken back into private-equity ownership, says Julia Kollewe in The Guardian . The motoring group has indicated that it is inclined to recommend a £218m takeover proposal from TowerBrook Capital Partners and Warburg Pincus.
The deal would involve the two private-equity groups paying 35p a share while investing £380m to help reduce its huge debt pile of £2.6bn, £913m of which is due to mature in the next 18 months.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
House prices rising fastest in areas with highest crime rates – where does your area rank?Property prices are higher in safer areas but growing more slowly than in places benefiting from gentrification and buy-to-lets
-
State pension age review launched – could it rise faster in future?The government has announced a review of the state pension age, after it warned of a “retirement crisis” and revived the Pensions Commission to boost pension savings
-
Britain’s fallen stars: a second chance for quality stocksQuality stocks in the UK saw share prices collapse in the wake of Covid. That has created an opportunity for smart public investors — and private buyers
-
Rising FTSE 100 gives Rachel Reeves a win at lastOpinion The FTSE 100 index of leading shares has broken through 9,000 for the first time. That’s not as impressive as it appears, and its future is looking grim.
-
AJ Bell: a fine British fintech going cheapOpinion Don’t overlook investment platform AJ Bell, a significantly undervalued British business with an excellent financial base
-
Aim has missed its target – will it recover?Aim, London's junior stock market, has become less appealing to investors amid scandals and an upcoming inheritance tax blow next April. Will it make a turnaround?
-
Investors remain calm as the Middle East war unfoldsConflict in the Middle East has failed to shake oil or stock markets. Can the peace hold?
-
London's new private stock market Pisces 'faces three big problems'Opinion The Pisces exchange may fill a gap in the market, but it won’t address the real problem, says Matthew Lynn
-
Spectra Systems: a 'boffin-led' tech stock with business acumenOpinion Patient investors will get paid well as they wait for success from Spectra Systems, a promising Aim stock, says Jamie Ward
-
How amateur investors could rescue UK stocksPrivate investors must be the beneficiaries of a stock market recovery, says Bruce Packard – not brokers and fund managers
