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Gamma agrees to £1.08bn private equity takeover offer


By Dan McGrath

Gamma Communications has agreed to a £1.079bn takeover offer from the London-based private equity firm, Epiris.

The recommended cash offer for the FTSE 250 British telecoms firm comprises an offer of £11.20 per Gamma share, representing a 53% premium on its closing share price on 7 April, which is the last prior day to the commencement of an offer period.


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Frasers announces intention to target 50% Hugo Boss ownership

Frasers Group has announced its intention to take its shareholding interest in Hugo Boss to over 50%, through the potential acquisition of further shares in the luxury fashion brand

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Halfords raises profit guidance as warm summer boosts trading

Halfords has upgraded its FY27 underlying pre-tax profit guidance ahead of market consensus, following a boost from "unusually warm summer weather", sending shares up by 10%.

Halfords now expects FY27 underlying profit before tax to be between £55m and £65m, ahead of current consensus of £52.6m, putting even the bottom end of the new profit range above most previous forecasts

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Unilever puts Colman’s up for sale ahead of McCormick deal

Unilever has put its Colman’s mustard brand up for sale as it seeks to address potential competition concerns ahead of its planned $44.8bn combination of its foods business with US condiments group McCormick

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System1 issues ‘unequivocal rejection’ of Brave Bison offer

Marketing technology firm System1 continues to reject Brave Bison's advances, reiterating its “unequivocal rejection” of the latest offer after the bidder formally posted its document

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Goodwin doubles profit in FY results

Goodwin recorded trading profit of £77.5m in the year to 30 April, marking a 118% year-on-year increase, following a rise in defence programmes in recent years

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Wood Pension Plan completes £1.65bn buy-in with L&G

Wood Pension Plan has completed a £1.65bn buy-in with Legal and General Assurance Society (L&G), securing the benefits of all 16,400 members

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AEW UK REIT abandons AIRE pursuit

AEW UK REIT (AEWU) has withdrawn from the contest for Alternative Income REIT (AIRE), stating it has no intention of making a firm offer after failing to secure the backing of AIRE's largest shareholder, Glenstone.

In a Rule 2.8 statement released on Wednesday to the London Stock Exchange (LSE), AEWU said Glenstone's public opposition to its proposed all-share acquisition, together with Glenstone's own cash bid for AIRE, had rendered a combination unworkable despite support from the AIRE board

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Watkin Jones cuts profit guidance following deal delays

Shares in Watkin Jones dropped by over 5% earlier today after the residential for rent developer and operator said that it is unlikely that all of its investor transactions will conclude in the current financial year

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'Meaningful improvement' in UK corporate sentiment

UK business confidence rose by four points to 53% in August, its highest level since March, as firms became more optimistic about both their own trading prospects and the wider economy, according to the latest Lloyds Business Barometer

Macfarlane Group starts ‘process of profit recovery’ in H1

Macfarlane Group has said that it has made progress in its profit recovery in the first half of the year, despite it falling by 5% year-on-year to £4.71m
easyJet takeover offer deadline extended to mid-October

Shares in easyJet showed little sign of investor concern on Tuesday after Apollo-backed bidder Eagle Bidco announced a delay to the publication of the scheme document for its proposed £5.7bn takeover of the airline.

The UK Takeover Panel approved an extension, pushing the deadline from 3 September to 15 October as the parties continue discussions with aviation regulators
Brave Bison profit jumps 120% in H1

Brave Bison has reported a profit before tax of £4.1m in the six months to 30 June, marking a 120% year-on-year increase


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