Financial News

Action Hotels agrees cash offer

Action Hotels agrees cash offer

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AIM-listed Action Hotels (LON:AHCG) saw its shares rise by 31.94% to 21.11p after the company agreed a potential all-cash offer with it’s largest shareholder. Under the terms of the agreement, shareholders would be offered 24p a share, which represents a 50% premium over yesterday’s closing price.

US operations slow Ultra Electronics

US operations slow Ultra Electronics

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FTSE 250 defence specialist Ultra Electronics said that group performance for the first half of the year has been broadly in line with market expectations, but warned about continued cost overruns at its US-based Herley subsidiary.

Whitbread shares rise despite mixed sales update
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Whitbread shares rise despite mixed sales update

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FTSE 100 hospitality company Whitbread posted some positive headline sales growth figures for the first quarter of the current financial year, with Costa Coffee up by 5.2% and Premier Inn UK rising by 2.5%, but like-for-like figures showed drops at both chains.

SIG sells fixtures unit

SIG sells fixtures unit

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Specialist building materials producer SIG has agreed to sell its VJ Technology subsidiary to UK private equity outfit Primary Capital for an expected consideration of £29.7 million.