Spotify’s $4 billion pitch sounds high 24 Apr 2012 The music-streaming firm is seeking new backers at a hefty $3.5 to $4 bln valuation. Spotify boasts a neat idea, rapid growth and Facebook’s friendship. But big licensing fees, which rise in tandem with users, mean it lacks the economics of the best dot-com hits.
AstraZeneca needs a more active chairman 10 Apr 2012 Investors are frustrated with the Anglo-Swedish pharma group’s shrinking collection of blockbuster drugs. It’s time for a major strategic review, led by an active leader willing to tackle taboo topics. There’s an opportunity - a new chair is set to be approved later this month.
With sound packaging, bold M&A can still be done 17 Jan 2012 Shareholders killed Britain’s last ambitious takeover requiring a rights issue. Now the market is applauding a $2 bln move by DS Smith, the packaging group, on a unit of Sweden’s SCA. Showing restraint on leverage and on deal price helps, as does teeing up key investors.