Europe

Members of Norwich & Peterborough Building Society (N&P) have voted in favour of a merger with Yorkshire Building Society (YBS), the UK’s second largest building society.

Of those who voted, 89.61 per cent of savers and 87.22 per cent of borrowers voted in favour of N&P to merge with YBS.

The newly merged society will have three million members, approximately £34 billion of assets and a national network of 224 branches and 89 agency offices.

Software provider Skype is to acquire US-based GroupMe, a provider of mobile group messaging services, it has been announced.

Luxembourg-based Skype said the acquisition will underpin its drive to provide a global multi-modal and multi-platform communications experience, complementing Skype's existing market position in voice and video communications by providing “best in class” text-based communications and innovative features enabling users to connect, share locations and photos and make plans.

Israeli food flavourings company Frutarom Industries has acquired UK-based Aromco for £15 million, it has been announced.

The transaction is Frutarom’s fourth acquisition of a flavour company since the beginning of 2011.

Hertfordshire-based Aromco develops, manufactures and markets flavours for the beverage, dairy, confectionary, bakery and savoury markets. The company had sales of £7.7 million in 2010.

Until very recently, Greenland has been a sleeping giant with regard to oil and gas exploration. Hans Kristian Olsen and Stig-Morten Knutsen of the national oil company Nunaoil talk to Gay Sutton about the prospects for a significant discovery and how they will ensure the Greenlandic people will benefit.

Pascal Mittermaier, head of sustainability EMEA for leading global property solutions provider Lend Lease, talks to Gay Sutton about the challenges of sustainable construction.

The Hadley Group is the UK’s largest manufacturer of cold rolled steel sections; and its operations in Dubai give it access to the high-growth economies in the east, an opportunity it is seizing with both hands.

The board of Cambridge, UK-based Autonomy has unanimously recommended its shareholders accept a £7.1 billion offer from technology giant HP.

Founded in 1996, Autonomy provides infrastructure software to a customer base of more than 25,000 companies, law firms and public sector agencies globally. It has approximately 2,700 employees worldwide.

Over the past five years, Autonomy has grown its revenues at a rate of approximately 55 per cent and its adjusted operating profit at a rate of approximately 83 per cent per annum.

UK-based SABMiller has made a hostile bid for the Australian beer giant Foster’s.

The Foster's board rejected SAB's initial A$9.5 billion (£6.1 billion) offer made in June, saying it was too low.

SABMiller has now taken the offer directly to the company’s shareholders, though it remains unchanged at A$4.90 per share.

Germany’s Rhenus Group has agreed to acquire the mainland European activities of UK-based Wincanton Group, it has been announced.

Wincanton’s German and French businesses generate revenues of approximately €550 million and employ 3,000 people. The companies’ activities are predominantly in contract logistics and intermodal transportation.

UK budget hotel operator Travelodge is to spend £135 million on expansion within and around the country’s national parks.

The company said it is responding to the rise in the number of people staying in or near the UK’s 15 national parks.

The Travelodge property team is prioritising a search for 37 sites in total, with key locations including Aviemore in the Cairngorns, Betws-y-Coed in Snowdonia, Grasmere in the Lake District and Minehead on Exmoor.