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Pennon (PNN) Share News

IN BRIEF: UK CMA starts merger inquiry into Pennon acquisition

7th Mar 2024 14:30

Pennon Group PLC - Exeter, England-based water utility - The UK Competition & Markets Authority announces start of investigation into Pennon's acquisition of Sutton & East Surrey Group Holdings Ltd, formerly named Sumisho Osaka Gas Water UK Ltd. Pennon agreed to the deal, which has an enterprise value of GBP380 million including debt, in January. The inquiry's launch follows the CMA on February 27 inviting comments on the acquisition agreement. Read More

IN BRIEF: CMA asks for comments on Pennon purchase of SES Water

27th Feb 2024 09:53

Pennon Group PLC - Exeter-based water utility - The UK Competition & Markets Authority invites comments on Pennon's agreement to buy Sutton & East Surrey Water PLC, which was announced last month. The CMA had immediately served an initial enforcement order on Pennon in relation to the acquisition. Pennon agreed in January to buy Sumisho Osaka Gas Water UK Ltd and related businesses from Sumitomo Corp and Osaka Gas for GBP89 million, with the deal representing an enterprise value including debt of GBP380 million. Sumisho Osaka owns Sutton & East Surrey Water, or SES Water. The competition watchdog on Tuesday says it has not yet launched a formal investigation into the deal, but it is considering "whether the creation of that situation is likely to prejudice [water industry regulator] Ofwat's ability, in carrying out its functions, to make comparisons between water enterprises." Read More

Ondo InsurTech shares up on agreement with South West Water

26th Feb 2024 09:33

(Alliance News) - Ondo InsurTech PLC on Monday said it has signed an agreement with South West Water to reduce water leaks in the south west of England. Read More

LONDON BROKER RATINGS: HSBC cuts Compass; Berenberg lowers Victrex

23rd Jan 2024 09:21

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday: Read More

UK dividends calendar - next 7 days

18th Jan 2024 16:30

LONDON BROKER RATINGS: Exane BNP cuts HSBC; Peel Hunt raises Hammerson

15th Jan 2024 09:11

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning: Read More

IN BRIEF: Pennon CEO Susan Davy buys GBP60,000 in shares

12th Jan 2024 15:15

Pennon Group PLC - Exeter-based water utility company - Chief Executive Susan Davy buys 8,356 shares at GBP7.30 each, worth GBP60,999, in London on Friday. Read More

IN BRIEF: CMA issues initial enforcement order on Pennon for SES Water

11th Jan 2024 12:04

Pennon Group PLC - Exeter-based water utility - The UK Competition & Markets Authority says that on Monday it served an initial enforcement order on Pennon in relation to the FTSE 250 company's agreement to buy Sutton & East Surrey Water PLC, which Pennon announced on Wednesday. Pennon said it agreed to buy Sumisho Osaka Gas Water UK Ltd and related businesses from Sumitomo Corp and Osaka Gas for GBP89 million, with the deal representing an enterprise value including debt of GBP380 million. Sumisho Osaka owns Sutton & East Surrey Water, or SES Water. An initial enforcement order requires the companies to take no irreversible action while the CMA determines whether it will investigate the deal for competition concerns. Read More

UPDATE: Pennon acquires SES Water owner, raises GBP180 million

10th Jan 2024 16:54

(Alliance News) - Pennon Group PLC on Wednesday said it has raised GBP180 million through a fundraise, in connection with its newly announced takeover of Sutton & East Surrey Water PLC. Read More

TOP NEWS: Pennon acquires SES Water owner, plans fundraise

10th Jan 2024 09:12

(Alliance News) - Pennon Group PLC on Wednesday announced a placing and retail offer to raise up to GBP180 million, in connection with its newly announced takeover of Sutton & East Surrey Water PLC. Read More

LONDON MARKET OPEN: Grocers weigh on FTSE as Sainsbury's disappoints

10th Jan 2024 08:49

(Alliance News) - Stock prices in London opened mixed on Wednesday, as investors remained cautious ahead of US inflation data, and rising geopolitical tensions. Read More

LONDON BRIEFING: Sainsbury's grocery sales drive festive growth

10th Jan 2024 07:40

(Alliance News) - Stocks are expected to retreat at Wednesday's market open in London, with investors hesitant to take risks ahead of key market catalysts later this week. Read More

LONDON BROKER RATINGS: JPMorgan raises Compass and Marston's

14th Dec 2023 09:29

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning: Read More

LONDON MARKET OPEN: Cooler CPI data brings ECB cut closer into view

30th Nov 2023 08:55

(Alliance News) - London's FTSE 100 made a tepid start to the day on Thursday, though large-cap peers in Paris and Frankfurt rose, as another inflation reading from the euro area took some sting out of European Central Bank interest rate expectations. Read More

LONDON MARKET MIDDAY: FTSE 100 underperforms ahead of US data

29th Nov 2023 12:02

(Alliance News) - European equities were largely higher heading into Wednesday afternoon's US gross domestic product reading, though London's FTSE 100 underperformed as China-exposed shares and international earners declined. Read More

TOP NEWS: Pennon ups payout as profit falls; focuses on water quality

29th Nov 2023 09:31

(Alliance News) - Pennon Group PLC on Wednesday said it is focused on reducing its impact on river water quality as it announced a higher dividend despite a dive in profit. Read More

LONDON BRIEFING: Hargreaves Lansdown says Dechra's Platt to be chair

29th Nov 2023 07:39

(Alliance News) - Stocks in London are expected to open lower on Wednesday, as investors consider the latest dovish remarks from the US Federal Reserve. Read More

UK earnings, trading statements calendar - next 7 days

22nd Nov 2023 15:51

LONDON BROKER RATINGS: Jefferies raises Tullow Oil to 'hold'

23rd Oct 2023 09:24

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning: Read More

LONDON MARKET MIDDAY: European markets uneasy but FTSE 100 outperforms

17th Oct 2023 12:06

(Alliance News) - London's FTSE 100 higher was higher around midday, though it was defensive stocks such as utilities and pharmaceuticals which led the charge, suggesting there is still lingering discomfort in markets amid tensions in the Middle East. Read More

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