Former Chancellor George Osborne turned to investment banking in the spring.
But as the MoS reported last month, her new employer, Robey Warshaw, has fallen behind rivals amid a flurry of summer offers in City.
Finally, Osborne’s boutique business is irrelevant.
Exit: Former Chancellor George Osborne turned to investment banking in the spring
Robey Warshaw has been hired by Sainsbury’s to fend off a possible takeover amid speculation swirls the supermarket giant could fall prey to a private equity bidder.
Sainsbury’s would become the third supermarket targeted after the acquisition of Asda and the Morrisons offerings.
Private equity firm Apollo and Czech tycoon Daniel Kretinsky – the supermarket’s second-largest shareholder – have both been named as potential suitors.
It is understood that Robey Warshaw has been working secretly with Sainsbury’s since the start of the year on a broad tenure.
Osborne’s implication is not yet clear – but his political savvy could come in handy in any politically charged mega-offer.
Kingfisher to reveal results
Home improvement has proven to be a booming industry since Covid left families locked up for months.
This week, half-year results from owner of B&Q Kingfisher and annual figures from sofa seller DFS should indicate whether the end of the lockdown has hampered the trend.
Rival Made.com warned last week that shipping delays and higher freight charges were also affecting orders.
The good news is that analysts estimate Kingfisher’s interim profit will still grow by 20%, to around Â£ 600million.
Saab presents a battle boat on the Thames
If you were cruising the Thames last week and spotted a threatening gunboat, don’t worry.
It was Stockholm-listed aerospace and defense company Saab, which was showing its Combat Boat 90 in the UK for the first time.
The ship is designed to land quickly on rocky terrain and free up to 18 soldiers from its belly.
“It’s good for launching troops onto a beach, reconnaissance and intelligence gathering – and we see great potential in the UK,” Saab manager Anders Hellman tells me from the cockpit as he performs. emergency stops in the murky river.
Rumor has it that Defense Ministry officials ruled the boat.
With Boris Johnson’s recent surge in defense spending, an order could be an out bet.
Hedge fund attacks vaccine cancellation
Health Secretary Sajid Javid slammed Frenchman Valneva last week, claiming his Covid-19 vaccine would not have gained regulatory approval in the UK and ending 100 deal million doses.
The move sparked dismay at the company – whose plant in Livingston, Scotland had even received state investment – and a sharp decline in its shares.
But a select group of hedge funds were shot in the arm.
The American covers Citadel and PDT Partners had bet against the title, as well as Marshall Wace of Sir Paul Marshall.
Broker AJ Bell estimates that the trio made gains of around â¬ 13 million from the sale of shares.