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...Proprium is selling its stake for €1.25bn, having acquired it for €65mn in 2007, providing the company with a more than 20-times return on invested equity when dividends are taken into account....
...UK-based M&G Investments, which owns 1.4 per cent of Anglo, said it too “will be supportive” if a proposed deal provided better value for its funds....
...The group expects its first quarter net trading revenue will be roughly $4.4bn, more than double the level it achieved a year prior and up 35 per cent from the end of 2023, according to documents reviewed...
...It has about £1.5bn of net debt. EP now has until May 15 to table a firm offer under UK rules that govern takeover bids for public companies, though it said there was no guarantee it would do so....
...Meanwhile, card spending on household categories such as homewares, electronics and DIY fell by 4.1 per cent in April, indicating people were postponing renovations and home improvements....
...Asda’s owners created nearly £1.5bn of new liabilities that are not counted in the supermarket chain’s headline debt figures to finance a buyout of a petrol stations business that they also control.Asda...
...The London-listed company, which has a market capitalisation of about £1.5bn, said the proposed deal would include “substantially all” of Eni’s UK upstream assets but would exclude Eni’s carbon capture and...
...The company said revenues were €4.1bn in the quarter, with comparable sales growth of 2.4 per cent. Read more here....
...Hipgnosis Songs Fund, the listed UK music rights investment company, has agreed to a $1.4bn takeover from Apollo-backed rival Concord Chorus....
...The company on Thursday said that net debt, which totalled nearly $1.1bn at the end of last year including leases, would end 2024 at a similar level....
...Its shares rose more than 4 per cent in morning trading on Tuesday....
...The shares closed down almost 1 per cent at 280.2p on Friday....
...Antitrust concerns stymied Lockheed Martin’s $4.4bn bid to buy Aerojet Rocketdyne in 2022, leaving L3Harris to carry off the prize a year or so later for $4.7bn....
...The announcement came as the company reported a 1 per cent fall in sales, to €4.1bn, in the first quarter of 2024....
...For Toyota, grabbing market share in China is becoming increasingly important: it expects operating profit to total ¥4.3tn in the fiscal year to next March, about a fifth lower than the year that just ended...
...Coombs said the financial hit was equivalent to 2 per cent of the bank’s tangible book value and 4 per cent of its market capitalisation....
...The company sold 374,000 vehicles in China, down 1.6 per cent from a year earlier....
...drop in real internal growth — a proxy for sales volumes — of 2 per cent in the first three months of the year, bigger than the 0.5 per cent drop that was forecast.Organic sales during the period rose 1.4...
...Elsewhere, the company said it would bank $25mn (£20mn) this year from changes to its system fund arrangements....
...The BNSF railroad’s revenues fell 4.1 per cent, almost entirely driven by lower shipments of coal....
...It doubled its short-term cash needs across both 2024 and 2025 to €1.1bn from a previous €600mn estimate, taking its total funding needs to €1.7bn, up from a previous estimate of €1.2bn....
...The board of Hipgnosis Songs Fund said it recommended that shareholders support the Blackstone offer, which is priced at 4 per cent above the most recent Concord bid or 48.1 per cent above the closing price...
...Manufacturing output grew 1.4 per cent, driven by car production, which has grown for six consecutive quarters....
...That is a big push for a group that generates €4.5bn of cash flow a year. It also means Kering has a lot on the go....
...Services inflation, which is heavily affected by trends in pay, rose at an annual rate of 6.1 per cent in February. Headline inflation stood at 3.4 per cent, the lowest since 2021....
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