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...A bid of 360p a share would be a “reasonable take-out price”, he added. EP said Royal Mail was in a “challenging situation”....
...But co-founder and chief executive Daniel Schreiber told the Financial Times that the results, which included a small increase in its cash and investments, from $942mn at the end of the first half to $945mn...
...Daniel Ervér, the 42-year-old company veteran who became chief executive on Wednesday, told the Financial Times that H&M would use improvements in profitability and cash flow last year to invest in its customer...
...Archer Daniels Midland’s profits fell less than expected in the first quarter, the global agricultural commodities merchant’s latest update since it set out the details of a probe into its accounting practices...
...Shares of Thyssenkrupp rose as much as 10 per cent after the German industrial conglomerate said Czech billionaire Daniel Křetínský would take a 20 per cent stake in its steel business....
...The raised Concord offer represents an increase of about 7.8 per cent on its original offer, or 42.6 per cent to the closing price of 71p a share on the last day prior to the bid....
...The bidding war is a welcome boost for shareholders given the months of speculation over the future of the company, whose share price had plummeted on repeated cuts to the value of its portfolio and questions...
...It said the share price was unlikely to increase to reflect the adjusted net asset value or deal price “in the medium term as a result of numerous company-specific and certain market issues”....
...In the letter, DAZN said that it was also considering withdrawing from the entire rights process, which would potentially remove any competitive tension to drive prices higher....
...The board of Hipgnosis Songs Fund recommended that shareholders support the offer, which is priced at 4 per cent above the most recent Concord bid or 48.1 per cent above the closing price before the takeover...
...Farmers in Latin America are rushing to plant cocoa as the price of chocolate’s main ingredient soars amid a global shortage of supplies....
...“It falls to us to explicitly confront the tradeoffs presented by growth’s promise and its price,” he writes....
...At 90p a share, the bid reflects a premium of about a third to the closing price of the stock on Wednesday and is about 4 per cent higher than the net asset value in September, of $1.11 a share....
...The Concord offer was at a premium of about a third to the Hipgnosis share price before the bid was announced, and a 4.3 per cent premium to the fund’s September net asset value....
...Czech billionaire Daniel Křetínský has dropped plans to buy a unit of Atos, imperilling last-ditch efforts by the French IT company to avoid insolvency proceedings....
...They pointed to a tough advertising market, and inflationary cost pressures from wages, energy and newsprint prices, as well as continued investment, as reasons for the fall in profits at the titles....
...The government in February raised petrol and diesel prices more than 400 per cent in an attempt to stabilise the economy, as part of a gamut of spending cuts and price increases that are heaping more pain...
...The ad group’s share price has fallen by a quarter over the past year as it has faced faltering spending among some of its core clients in the technology sector....
...Mindful of the risk that fresh sanctions on Venezuela might push up oil prices in a US election year, Washington will allow US major Chevron to continue a joint venture with Venezuela’s national oil company...
...They have gained in recent weeks since the potential delisting was announced, closer to its listing price at €16 a share and giving it a market value of €1.56bn....
...He declined to comment, however, about the commercial terms, saying that “there appears to be a market price evolving”. “These models need to be fed....
...British fund manager Nick Train has had Relx as the biggest holding in the Lindsell Train UK equity fund since its inception in 2006, only selling shares when price rises take them above the 10 per cent...
...Timothy Mackey, professor of global health at University of California San Diego, predicted that other pharma companies would probably follow Eli Lilly and Pfizer....
...Daniel Křetínský’s reputation for mystery suggests he is difficult to understand....
...Venezuelan bonds rallied in response, with prices up 3.5 cents, to about 21 cents on the dollar on Thursday afternoon. PDVSA bonds maturing in 2026 went up by 2.5 cents to 11 cents....
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