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Insurance industry

Major Mergers and Acquisitions Expected in Coming Weeks

Strategic Insights

— 1 min read

Tony O'Reilly's publishing company, Newspaper Publishing, is expected to be acquired by Mirror Group for approximately £30 million, with Mirror Group owning 46% of the company. This news follows full-year results from Mirror Group this morning, which are expected to show a 9% rise in profits to £89.4 million. Meanwhile, the impending merger of Commercial Union and General Accident has put takeover targets such as Norwich Union and Legal & General Group in the spotlight, with analysts forecasting a rise in profits for both companies.

Key Takeaways:

  • Tony O'Reilly's publishing company, Newspaper Publishing, is expected to be acquired by Mirror Group for £30 million, with Mirror Group owning 46% of the company.
  • Mirror Group is expected to show a 9% rise in profits to £89.4 million in full-year results this morning.
  • The impending merger of Commercial Union and General Accident has put takeover targets such as Norwich Union and Legal & General Group in the spotlight.
  • Analysts forecast a rise in profits for both Norwich Union (13% to £640 million) and Legal & General Group (12% to £325 million).
  • United News and Media, publisher of Express newspapers, is expected to show profits up 8% to £312 million.
  • Williams's profits should be up 13% to £281 million, BAT's 7% to £2.5 billion, and Gallaher's 4% to £309 million.
  • A number of companies are due to release interim and final results in the coming days, including Golden Hope Plantations, Manganese Bronze, Polypipe, Tay Homes, and others.

Statistics:

  • Mirror Group's expected profits rise: 9% to £89.4 million.
  • Analysts' forecast for Norwich Union's profit rise: 13% to £640 million.
  • Analysts' forecast for Legal & General Group's profit rise: 12% to £325 million.
  • United News and Media's expected profits: £312 million (up 8%).
  • Williams's expected profits: £281 million (up 13%).
  • BAT's expected profits: £2.5 billion (up 7%).
  • Gallaher's expected profits: £309 million (up 4%).

Sources:

  • Tony May, Independent Newspapers
  • Source: "Tony O'Reilly Set for £30m Newspaper Deal" by Tony May, Independent Newspapers.

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