EasyJet's board is criticized for accepting a £5.5bn takeover offer from Castlelake at 690p per share, seen as an undervaluation despite the premium. Analysts argue the airline has strong assets and a clear path to higher profitability, suggesting the board gave up too easily.
EasyJet's board is criticized for accepting a £5.5bn takeover bid from Castlelake at 690p per share, seen as a sign of timidity. Despite recent challenges, the airline has a clear path to increased profitability and strong assets, suggesting a higher valuation is achievable.
Intertek's £10bn takeover by EQT-led consortium, while not a landmark event, highlights London's market issues. It's the third FTSE 100 company taken over this year, with few new listings.
Intertek, a FTSE 100 laboratory testing company, agrees to a £10.6bn takeover by EQT, a Swedish private equity firm, after rejecting three previous bids; the deal is subject to shareholder approval and preconditions.
A Swedish firm’s pursuit of the product testing company Intertek suggests investors’ price expectations are yet to be shifted by the Iran warIt was a bad day for the FTSE 100 index on Tuesday – down 1.4% – but the puzzle in many quarters is why share prices haven’t fallen further since the start of the US-Israel war on Iran. The index is still up by a couple of percentage points since new year, which is not a bet most would have made at the time if they had been told an inflationary energy price shock lay around the corner.An absence of Iran-related corporate profits warnings partly explains the relative resilience, even if those usually take a while to arrive. So, too, the fact that the Footsie is overpopulated with overseas earners for whom the US economy, which isn’t suffering Europe’s soaring natural gas prices, matters more than their home market. And higher oil prices obviously help the likes of Shell and BP. Continue reading...
