May 11, 2018

Silver Lake buying UK property portal for $3 billion

Photo by Matt Cardy/Getty Images

Private equity firm Silver Lake has agreed to acquire British online property portal Zoopla for around $3 billion in cash, or 490 pence per share (31% premium). Sellers would include Daily Mail & General Trust, which holds a 29.9% stake.

Why it matters: Because this appears to be the largest acquisition ever of a British e-commerce/services company, topping Ctrip's 2016 purchase of Skyscanner.

Sellers would include Daily Mail & General Trust, which holds a 29.9% stake.

This isn't the first time Silver Lake has done business with DMGT in the property tech space. Just two months ago, it and Battery Ventures agreed to buy EDR from DMGT for $205 million.

Bottom line from Reuters:

"Along with rival Rightmove, ZPG dominates online searches for property sale and rentals in Britain, with Zoopla’s sites carrying listings for nearly 15,000 estate agent branches. Analysts and bankers said the ZPG sale was likely to be used as a price benchmark for other M&A involving such portals and comparison websites."

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Judge rules against Trump policy limiting public comment on energy leasing

Photo: Joe Amon/The Denver Post via Getty Images

A federal judge on Thursday overturned a 2018 Trump administration directive that sought to speed up energy leases on public land by limiting the amount of time the public could comment.

Why it matters: U.S. Chief Magistrate Judge Ronald Bush's decision voids almost a million acres of leases in the West, according to The Washington Post. It's a victory for environmentalists, who tried to block the change as part of an effort to protect the habitat of the at-risk greater sage grouse.

  • The ruling invalidated five oil and gas leases in Nevada, Utah, and Wyoming, and affected 104,688 square miles of greater sage-grouse habitat, per The Associated Press.
  • Leases in greater sage-grouse habitat will return to allowing 30 days of public comment and administrative protest.

The big picture: From Axios' Amy Harder, this is the latest in a long and convoluted list of regulatory rollbacks the Trump administration is pursuing on environmental rules that courts are, more often than not, rebutting. With Congress gridlocked on these matters, expect the courts to be the default way Trump's agenda faces checks (unless, of course, a Democrat wins the White House this November).

Your best defense against coronavirus

Photo: Adrian Greeman/Construction Photography/Avalon/Getty Images

Washing your hands is the best way to protect against the novel coronavirus, according to doctors and health officials, as the virus continues to spread around the globe.

Why it matters: Clean hands can stop germs from spreading in a community, a known characteristic in COVID-19 and influenza.

Go deeperArrow55 mins ago - Health

Major League Soccer embarks on its 25th season

Illustration: Aïda Amer/Axios

As Major League Soccer begins its 25th season, the league is financially stable and surging in popularity, and its 26 teams have gorgeous facilities and rapidly increasing valuations.

  • It also continues to expand, with David Beckham's Inter Miami and Nashville SC set to debut this season as the 25th and 26th teams. Plans are in place to reach 30 franchises by 2022 — triple the number from 2004.
Go deeperArrow2 hours ago - Sports