Sport A view of Elland Road

The terms of a buy-out were agreed last year

Fratton Park, the home of Portsmouth FC. The south- coast club owe £105m including £17m to other teams

Portsmouth takeover close say administrators

Portsmouth are close to announcing new owners, according to administrator Andrew Andronikou.

Windfall for Toolstation founder as Travis Perkins secures full control

The founder of hardware supplier Toolstation has secured a £24 million windfall after Wickes owner Travis Perkins took full control of the company.

Hansteen's investment push

The property investor Hansteen Holdings and a fund managed by the firm have spent £150m on 88 industrial warehouses formerly owned by the Merseyside-based Spencer Group.

Scapa seals deal to buy a US rival

Scapa Group, which supplies adhesive bonding for electronics and medical equipment, yesterday splashed out up to $45m (£29m) to buy US rival Webtec Converting.

Pru chairman set to quit after rebellion by shareholders

The chairman of insurance giant Prudential is to quit 18 months after he took most of the flak for its failed £22bn Asian takeover bid.

Blacks steps nearer brink as Ashley pulls offer

Mike Ashley's Sports Direct has ended its pursuit of Blacks Leisure, cutting off one possible escape route for the beleaguered outdoor retailer to safeguard its future.

Olympus balance sheet hole of £420m

The disgraced Japanese camera maker Olympus has revealed a $655m (£420m) hole in its balance sheet after admitting to a 13-year fraud at the company.

Nightclub firm purchase could save 3,000 jobs

Luminar, a nightclub operator, has been bought in a £45m deal that is expected save 3,000 jobs. The company, which ran Liquid, Oceana and Lava & Ignite clubs in town centres across the UK, went into administration in October with debts of £140m, of which more than £80m was owed to the banks.

Baxter's soup firm buys Fray Bentos pie maker

Princes has sold the canned pie maker Fray Bentos to the Scottish soup group, Baxters.

Heath Davies: Time marches on for the turnaround king

After giving himself 100 days to sort out the ailing Alterian technology group, the chief executive received some unwelcome attention

James Moore: Alliance puts a crafty boot into its pension-holders

Outlook Alliance Boots has been taking flak for allegedly putting the future returns of its 20,000 pensioners at risk by offering to change the way plans are paid.

Groupon sues sales staff who quit to join Google

Google and Groupon have gone from courtship to court in less than a year. Groupon, the Chicago-based technology start-up that emails 142.9 million people a day with a money-off coupons for a local businesses, is suing two of its former sales managers for allegedly stealing trade secrets from the company when they went to work for Google.

Chesnara on the takeover trail

Chesnara, which competes with the zombie fund Phoenix to buy life insurers that no longer accept new customers, said it remained on the lookout for deals yesterday as new solvency rules for insurers would result in acquisition opportunities.

Valuation gap hits mergers, survey shows

A valuation gap between buyers and sellers is hampering merger and acquisitions activity, with firms completing just one in eight of the transactions considered over the past two years.

QPR owner appoints new chief executive

QPR's new owner Tony Fernandes has continued his shake up of the Loftus Road hierarchy by appointing Philip Beard as the club's new chief executive officer.

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