International packaging specialists DS Smith (LON:SMDS) has announced a proposed takeover of Europac, in what would be the company’s largest ever acquisition. The firm said that it had received undertakings from Europac shareholders owning more than 58% of outstanding shares to accept the offer, which values the takeover target at £1.65 billion. Get the latest…
Insurance giant Legal & General (LON:LGEN) has reached an agreement in principle to sell its position in IndiaFirst Life to private equity outfit Warburg Pincus for around £79 million. The deal would remain subject to regulatory approval and would be expected to complete late this year. Get the latest from Master Investor directly in your…
Shares in Irish property developer Abbey (LON:ABBY) were down by 4.45% to 1,304.20p at 15:15 BST after the company announced that operating profits for the year ended 30th April would be below those for the prior year due to tightening margins. Get the latest from Master Investor directly in your inbox – Sign-up HERE for FREE…
FTSE 100 miner Rio Tinto (LON:RIO) has completed the sale of its 75% interest in the Winchester South development project to Whitehaven Coal. The $200 million consideration for the deal will be paid entirely in cash, with $150 million up front and an unconditional $50 million due in 12 months’ time. Get the latest from…
Shares in Gama Aviation (LON:GMAA) rose by 1.73% to 223.80p after the company landed a £50 million extension to its deal providing air ambulance services in Scotland. Get the latest from Master Investor directly in your inbox – Sign-up HERE for FREE The company has worked with the Scottish Ambulance Service for nearly 30 years,…
Chemicals producer Johnson Matthey (LON:JMAT) reported that profits before tax for the year ended 31st March dropped by 31% to £320 million due to restructuring and legal fees, despite a 17% improvement in sales. Get the latest from Master Investor directly in your inbox – Sign-up HERE for FREE The board expressed confidence that the company…
FTSE 250 travel operator First Group (LON:FGP) has announced that CEO Tim O’Toole will be stepping down from his position and from the board after the company posted a highly disappointing set of results for the year ended 31st March and wrote down the value of a number of assets. Get the latest from Master…
Australian-listed medical devices manufacturer and Master Investor Show 2018 exhibitor Rhinomed (ASX:RNO) has scored a deal with a major US pharmacy that will see its Mute range of products sold in more than 3,000 outlets across the states. Get the latest from Master Investor directly in your inbox – Sign-up HERE for FREE The identity…
FTSE 250 heat treatment outfit Bodycote (LON:BOY) has upped its full year forecasts today after revenues for the four months ended 30th April climbed 7% to £243 million driven by a strong performance in the energy and automotive sectors. There was also an encouraging improvement in profit margins. Management said that, notwithstanding the group’s restricted…
Shares in infrastructure and support services provider Stobart Group (LON:STOB) have slid further today after Cenkos resigned as the group’s broker due to the current conflict within the company’s board. Get the latest from Master Investor directly in your inbox – Sign-up HERE for FREE Former CEO and current executive director Andrew Tinkler has announced…
