(Alliance News) - Toscafund Asset Management LLP is planning to install Paolo Pieri as executive chair of Spire Healthcare Group PLC if months-long talks over a GBP1 billion takeover go through, Sky News reported. Read More
(Alliance News) - Stock prices in London opened mixed on Thursday, with the FTSE 100 little changed as gains for telecom stocks and positive broker calls were offset by shares trading ex-dividend. Read More
(Alliance News) - M&G swings to a first-half pretax loss attributable to equity holders as short-term investment fluctuations weigh on statutory results, while LondonMetric Property announces GBP105 million of investment activity. Elsewhere, Jet2 says trading remains strong and announces plans to move from AIM to London's Main Market. Read More
(Alliance News) - Stocks in London are set to open marginally lower on Thursday as investors monitor fresh tensions between the US and Iran, while digesting new US trade measures and a busy day of corporate updates. Read More
(Alliance News) - After admiring France's fabled Bayeux Tapestry loaned for a London exhibition, UK Prime Minister Andy Burnham and French President Emmanuel Macron will hold their first talks Thursday, with migrant boats and Ukraine high on the agenda. Read More
(Alliance News) - Ireland’s private sector activity strengthened in August as both services and manufacturing delivered firmer growth, S&P Global reported Thursday. Read More
Shell PLC - London-based oil and gas company - Completes acquisition of Arc Resources Ltd. ARC shareholders receive CAD8.20 in cash and 0.40247 Shell shares for each Arc share. Based on Shell's closing share price of 3,443.00 pence on Wednesday and the latest foreign exchange rates, the deal values Arc's equity at about USD13.9 billion. Shell assumes about USD2.5 billion in net debt and leases, giving the acquisition an enterprise value of about USD16.5 billion. The equity consideration comprises USD3.3 billion in cash and USD10.6 billion in new Shell shares. The acquisition adds about 370,000 barrels of oil equivalent per day of liquids and gas production and is expected to support Shell's production compound annual growth rate of about 4% through 2030. "The transaction is expected to generate double-digit returns, bolster long-term cash flows and be accretive to free cash flow share from 2027 onwards," Shell says. Read More
BP PLC - London-headquartered oil and gas company and Shell PLC - London-based oil major - Agree to terms for Shell to acquire a 50% stake Tupinamba exploration block in the Santos Basin, offshore Brazil. The agreement also covers a 30% stake in five leases containing the Conifer exploration prospect. "The transactions support BP's disciplined approach to capital allocation in service of becoming a simpler, stronger, more valuable company," says the company. The deal remains subject to regulatory approval. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More
(Alliance News) - Bodycote PLC on Wednesday afternoon announced the suspension of its share buyback programme, in light of its agreeing to a takeover offer from Veritas Capital Fund Management LLC. Read More
Picton Property Income Ltd - Guernsey-registered real estate investment trust - The requisite majority of shareholders vote in favour of the scheme for Picton's acquisition by LondonMetric Property PLC and Schroder Real Estate Investment Trust Ltd at the court meeting and general meeting. Picton says shares will be suspended from trading on the Main Market on September 10, when it expects the scheme to become effective. Picton agreed to the recommended all-share takeover by the LondonMetric and SREIT consortium on July 31. Based on its closing price the day before, the offer valued Picton at 78.7 pence per share, or around GBP404 million. Read More
Georgia Capital PLC - Tbilisi-based investor in domestic businesses in Georgia - Chief Executive Officer & Chair Irakli Gilauri sells 175,000 shares for GBP7.6 million in total, at an average price of GBP43.49 each, in London. Sells 34,028 shares at GBP44.09 on Friday, 56,970 at GBP43.08 on Tuesday, and 84,002 at GBP43.29 on Wednesday. Gilauri subsequently holds 2.6 million ordinary shares in the company. Read More
(Corrected to clarify that the ASIC Ultra Boost patent has not yet been granted, although Quantum's application has received formal approval from the US Patent & Trademark Office.) Read More
(Alliance News) - Stocks in London fell on Wednesday as elevated oil prices and bond yields pushed investors to the sidelines, with looming US jobs data adding to the cautious mood. Read More