Connect with us

Stock Markets

Security company G4S gets interest from Allied Universal Security Services By Reuters

Published

on


© Reuters. FILE PHOTO: Huddersfield Giants v Warrington Wolves Carnegie Challenge Cup Semi Final

(Reuters) – G4S Plc (L:) said on Friday U.S.-based Allied Universal Security Services has expressed interest regarding a possible offer for the British company, which in recent weeks has repeatedly rejected a hostile takeover attempt by Canada’s GardaWorld.

London-listed G4S, one of the world’s largest private security companies, reiterated that shareholders were strongly advised to reject private-equity backed GardaWorld’s 190 pence per share offer valuing it at 2.97 billion pounds ($3.84 billion).

($1 = 0.7729 pounds)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Stock Markets

Proxy adviser ISS backs three of nine Cannae/Senator nominees at CoreLogic By Reuters

Published

on

By


© Reuters.

By Svea Herbst-Bayliss

BOSTON (Reuters) – Proxy adviser Institutional Shareholder Services said on Friday that CoreLogic Inc (N:) shareholders should elect three of investor group Cannae Holdings (N:) and Senator Investment Group’s nominees as more bidders try to buy the company.

ISS backed the dissident group’s nominees Steve Albrecht, Wendy Lane and Henry Winship, citing their independence, expertise in evaluating mergers and acquisitions, and ability to contribute better governance at the U.S. property data and analytics group. They should replace CoreLogic’s three longest-serving directors on its 12-member board at the Nov. 17 meeting, the report said.

ISS issued its recommendation only days after CoStar Group (NASDAQ:) and a private equity consortium led by Warburg Pincus and GTCR emerged as bidders to purchase CoreLogic four months after Cannae and Senator first proposed to buy it.

New directors could monitor a sales process after suitors this week submitted expressions of interest for more than $80 a share, far above Cannae and Senator’s $66 a share offer.

CoreLogic’s shares closed at $76.93 on Friday and have climbed 12% in the last five days.

“Shareholders would benefit from the presence of new directors to ensure that the engagement with potential acquirers is managed to maximize value, especially considering the auspicious timing of the new indications of interest and the dissidents’ apparent role in encouraging other bidders to emerge,” the ISS report said.

The battle between CoreLogic and Cannae and Senator is becoming one of the season’s most hotly contested with the investor group criticizing the company’s financial performance and stewardship while the company said the investors’ takeover bid is too low.

Cannae and Senator propose to replace nine board members and pointed to recent exits by top 10 CoreLogic shareholders as evidence that investors expect a sale of the company.

ISS criticized CoreLogic’s “substantial” underperformance and worried that the board “has yet to demonstrate a commitment to running a fair process.”

It also frowned on Chairman Paul Folino’s “stutter steps in the board’s handling of recent inbound interest,” but stopped short of recommending that shareholders remove him.

Folino said ISS “reached the wrong conclusion in its recommendation for three Senator/Cannae nominees.” Current directors have created value for shareholders and the board is engaging with potential bidders for the company, he said, urging shareholders to reject Cannae/Senator nominees so that current directors can continue “ongoing efforts to maximize shareholder value.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Continue Reading

Stock Markets

Dunkin’ Brands to go private in $8.76 billion deal by Arby’s owner By Reuters

Published

on

By


© Reuters. FILE PHOTO: A box of donuts is pictured at a newly opened Dunkin’ Donuts store in Santa Monica

(Reuters) – Inspire Brands Inc will buy Dunkin’ Brands Group Inc (O:) for $8.76 billion, the two companies said on Friday, bringing chains like Arby’s and Dunkin’ Donuts under the same umbrella in one of the largest restaurant deals.

Inspire Brands, which owns Arby’s, Buffalo Wild Wings and Sonic Drive-In, said its all-cash deal to take the owner of Dunkin’ Donuts and Baskin-Robbins chains private would value it at $106.50 a share. That represents a nearly 20% premium over Dunkin’s last closing share price on Oct. 23, before the New York Times first reported the deal talks.

Including debt, the deal is valued at about $11.3 billion, Inspire Brands said.

Sales at Dunkin’ and Baskin-Robbins have improved from their lockdown lows in recent weeks, boosted by strong demand for its curbside pickup, drive-thru and delivery options.

Dunkin’ and Baskin-Robbins on Thursday posted a surprise rise in U.S. comparable sales in the third quarter.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Continue Reading

Stock Markets

Dow Suffers Worst Week Since March as Tech Loses Lustre By Investing.com

Published

on

By


© Reuters.

By Yasin Ebrahim

Investing.com – The Dow cut losses into the close Friday, but posted its worst week since March as technology slipped on weaker quarterly earnings, while rising Covid-19 infections prompted investors to abandon their bullish bets on stocks.

The fell 0.59%, or 157 points, and is down 11% from its September highs. The fell 1.15%, while the slumped 2.45%.

Tech, which has been leading the broader market rebound since mid-March, is in the selling spotlight as investors mulled a string of quarterly results from FAANG stocks, excluding Netflix (NASDAQ:).

Apple (NASDAQ:) fell 6% after its weaker-than-expected iPhone sales overshadowed third-quarter results that beat on both the top and bottom lines. Amazon.com (NASDAQ:)’s third-quarter results also beat Wall Street estimates, but its underwhelming guidance sent its shares 5% lower.

Facebook (NASDAQ:) slumped 6%% after a fall in user additions, but Wall Street continued to back the stock as the social media giant is expected to benefit from the ongoing “shift of ad spending to digital outlets,” Wedbush said in a note.

Google-parent Alphabet (NASDAQ:), however, sidestepped the selling, closing 4% higher as investors cheered signs of a rebound in ad-spending as the search engine giant reported third-quarter results that topped analysts’ estimates.

Twitter Inc (NYSE:) plunged 21% after bucking the trend of sharp user growth seen from other social platforms including Snapchat during the quarter, adding just 1 million users since the end of the second quarter.

Energy cut its losses to end positive as oil major Exxon Mobil (NYSE:) pared some intraday weakness following disappointing quarterly results.

The biggest one-day slump on Wall Street since the pandemic began in mid-March comes ahead of the U.S. election on Nov. 3 and as the spread of the virus continues to gather pace.

“[I]t is very unlikely that the economy will so easily continue along on an uninterrupted positive trajectory, particularly if a resurgence of the virus undermines the progress made July to September,” Stifel Economics said in a note.

The likely resurgence of the virus in the winter could potentially lead to “further restrictions or regulations will only serve to complicate the outlook for the global recovery, domestic GDP, policy and, of course, next week’s election.”

On the stimulus front, House Speaker Nancy Pelosi said she remains at odds with the White House on addressing differences concerning the stimulus package. 

Pelosi said she expects Congress “certainly will have something [done] at the start of the new presidency,” though did “not want to have to wait that long, because people have needs,” according to MSNBC.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Continue Reading

Trending

Copyright © 2017 Zox News Theme.