Stock Market News
FTSE 250 movers: IWG soars on takeover talk; Entertainment One turns off investors
IWG was the darling of the FTSE 250 on Monday as the stock surged 22% on news late Friday it had received an approach from private equity group Lone Star and two separate indicative proposals from Starwood and TDR regarding a possible cash offer for the business.
"The board is evaluating the possible offers with its financial advisers and shareholders will be updated in due course," IWG said.
Under UK Takeover Panel rules the private equity trio have a 5 pm deadline on 8 June 2018 to 'put up or shut up'.
Last December, IWG was approached by Canadian property giant Brookfield and private equity firm Onex over a £2.5bn bid, but talks ended in early February.
Marstons shares rose after last Friday's appointment of Carolyn Bradley, currently senior independent director, as interim chairman from 1 June. Sector peers JD Wetherspoon and Greene King were also higher on the day.
Entertainment One was in the red as it emerged that its major TV series 'Designated Survivor' has been dropped by US network ABC, which could affect revenue next year depending on the speed and size of a replacement deal.
Victrex fell despite posting a 26% jump in first-half pre-tax profit, as it said FX would be less of a tailwind for the rest of the year.
Indivior fell as it reached a settlement over its Suboxone treatment for opioid addiction with Par Pharmaceutical, allowing it to begin selling a generic version from 1 January 2023 in exchange for undeclared conditions.
Market Movers
FTSE 100 (UKX) 7,700.62 -0.31%
FTSE 250 (MCX) 20,754.08 -0.15%
FTSE 250 - Risers
IWG (IWG) 306.50p 21.63%
Spire Healthcare Group (SPI) 243.09p 6.71%
Cineworld Group (CINE) 269.60p 3.45%
PZ Cussons (PZC) 254.20p 3.17%
Wetherspoon (J.D.) (JDW) 1,191.00p 3.12%
Sirius Minerals (SXX) 33.80p 2.55%
Marston's (MARS) 110.20p 2.42%
Greene King (GNK) 552.81p 2.41%
Purecircle Limited (DI) (PURE) 366.00p 2.38%
FirstGroup (FGP) 107.90p 2.37%
FTSE 250 - Fallers
Entertainment One Limited (ETO) 283.80p -3.47%
Rank Group (RNK) 169.20p -3.31%
Victrex plc (VCT) 2,642.00p -3.15%
BCA Marketplace (BCA) 187.00p -3.11%
Greggs (GRG) 1,024.00p -2.75%
Beazley (BEZ) 604.00p -2.50%
Petrofac Ltd. (PFC) 635.80p -2.45%
William Hill (WMH) 276.50p -2.23%
Just Group (JUST) 139.20p -1.97%
TBC Bank Group (TBCG) 1,748.00p -1.91%
"The board is evaluating the possible offers with its financial advisers and shareholders will be updated in due course," IWG said.
Under UK Takeover Panel rules the private equity trio have a 5 pm deadline on 8 June 2018 to 'put up or shut up'.
Last December, IWG was approached by Canadian property giant Brookfield and private equity firm Onex over a £2.5bn bid, but talks ended in early February.
Marstons shares rose after last Friday's appointment of Carolyn Bradley, currently senior independent director, as interim chairman from 1 June. Sector peers JD Wetherspoon and Greene King were also higher on the day.
Entertainment One was in the red as it emerged that its major TV series 'Designated Survivor' has been dropped by US network ABC, which could affect revenue next year depending on the speed and size of a replacement deal.
Victrex fell despite posting a 26% jump in first-half pre-tax profit, as it said FX would be less of a tailwind for the rest of the year.
Indivior fell as it reached a settlement over its Suboxone treatment for opioid addiction with Par Pharmaceutical, allowing it to begin selling a generic version from 1 January 2023 in exchange for undeclared conditions.
Market Movers
FTSE 100 (UKX) 7,700.62 -0.31%
FTSE 250 (MCX) 20,754.08 -0.15%
FTSE 250 - Risers
IWG (IWG) 306.50p 21.63%
Spire Healthcare Group (SPI) 243.09p 6.71%
Cineworld Group (CINE) 269.60p 3.45%
PZ Cussons (PZC) 254.20p 3.17%
Wetherspoon (J.D.) (JDW) 1,191.00p 3.12%
Sirius Minerals (SXX) 33.80p 2.55%
Marston's (MARS) 110.20p 2.42%
Greene King (GNK) 552.81p 2.41%
Purecircle Limited (DI) (PURE) 366.00p 2.38%
FirstGroup (FGP) 107.90p 2.37%
FTSE 250 - Fallers
Entertainment One Limited (ETO) 283.80p -3.47%
Rank Group (RNK) 169.20p -3.31%
Victrex plc (VCT) 2,642.00p -3.15%
BCA Marketplace (BCA) 187.00p -3.11%
Greggs (GRG) 1,024.00p -2.75%
Beazley (BEZ) 604.00p -2.50%
Petrofac Ltd. (PFC) 635.80p -2.45%
William Hill (WMH) 276.50p -2.23%
Just Group (JUST) 139.20p -1.97%
TBC Bank Group (TBCG) 1,748.00p -1.91%
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