19th Apr 2022 11:16
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
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SMALL-CAP - WINNERS
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Petrofac Ltd, up 3.9% at 126.80 pence, 12-month range 91.05p-203.34p. The oilfield services company tracks energy prices higher, with barrel of Brent oil trading at USD110.73 in London on Tuesday, up from USD107.52 late Thursday prior to the four-day holiday weekend.
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SMALL-CAP - LOSERS
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Ted Baker, down 3.7% at 150.20p, 12-month range 79.60p-217.60p. Stocks gives back some recent takeover speculation-driven gains, though remains 46% higher since start of 2022. Last Wednesday, firm confirmed that New York-based private equity firm Sycamore Partners Management will participate in its formal sales process, which was announced at the beginning of the month. This means that Sycamore is no longer bound by Friday's deadline to make a firm intention of an offer or walk away. On April 4, Ted Baker said it had rejected already two cash takeover proposals from Sycamore and had received an improved proposal from the private equity firm, along with unsolicited third party bid interest. This had prompted the formal sales process.
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By Lucy Heming; [email protected]
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