London Stocks Seen Opening Lower
The FTSE 100 is expected to open 24 points lower, according to IG, having closed Friday at 7017.47, mirroring falls in Asian stocks. Investors remain nervous after the previous week's unexpected forecasts from the U.S. Federal Reserve for rate increases during 2023 due to rising inflationary pressure. This week will see a Bank of England meeting on Thursday, where policymakers might similarly warn of a possible need to tighten policy to combat inflation. Grocer Wm. Morrison will be in focus after it said Saturday that it had rejected a GBP5.54 billion possible cash offer from Clayton Dubilier & Rice LLC as it "significantly undervalued" the company and its future prospects.
Wm. Morrison Supermarkets Rejects $7.65 Bln Clayton Dubilier & Rice Offer Proposal
Wm. Morrison Supermarkets PLC said Saturday that it has rejected a 5.54 billion-pound ($7.65 billion) possible cash offer by Clayton Dubilier & Rice LLC as it "significantly undervalued" the company and its future prospects.
UK CMA Serves Enforcement Order on Bristol Water Takeover by Pennon
The U.K. Competition and Markets Authority said Monday that it has served an initial enforcement order in relation to the acquisition of Bristol Water Holdings UK Ltd. by Pennon Group plc.
Capita Sells 51% Stake in AXELOS JV for Net Cash of GBP183.6 Mln
Capita PLC said Monday that it has sold its 51% stake in its AXELOS Ltd. joint venture to PeopleCert International Ltd. for a net cash receipt of 183.6 million pounds ($253.4 million).
Capita on Track to Deliver Revenue Growth in 2021
Capita PLC said Monday that performance has improved in the first half of this year and that it remains on track to deliver full-year revenue growth--its first in six years.
Hotel Chocolat Takes Full Control of Beauty Products JV
Hotel Chocolat Group PLC said Monday that it has agreed to take full control of its Rabot 1745 Ltd. joint venture, created by the company and Chairman Andrew Gerrie in 2016 to develop a range of beauty products.
Kerry Group to Acquire Niacet for $1.01 Bln
Kerry Group PLC said Monday that it has agreed to acquire to acquire Hare Topco Inc., trading as Niacet Corp., for 853 million euros ($1.01 billion), as it seeks to strengthen its food protection and preservation strategy.
nmcn Secures GBP24 Mln Fundraising, Agrees Debt Renegotiation
nmcn PLC said Monday that it has agreed a renegotiation of its debt after securing a 14 million pound ($19.3 million) equity subscription and a GBP10.0 million convertible bridging loan with new investors.
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June 21, 2021 03:04 ET (07:04 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.