Company News
Co-operative Bank no longer up for sale
The Co-operative Bank is no longer up for sale as it continues talks with investors to boost its capital reserves.
Monday broker round-up
Provident Financial: RBC downgrades to Sector Perform with a target price of 2650p.
Project Icewine requires a bit more patience, says 88 Energy
88 Energy issued an update on Project Icewine, located onshore North Slope of Alaska, on Monday, confirming flowback had commenced on 19 June from stage 2.
EDF's Hinkley Point C facing fresh budget overruns, according to Le Monde
Hinkley C nuclear power plant, Britain's first nuclear station to be built in decades, is facing budget overruns of between one billion and three billion euros, as its construction could be delayed by two years.
Hornby urges shareholders to reject latest Phoenix offer
Hornby issued an updated to the market on Monday, noting the announcement by Phoenix UK Fund on Friday that it had despatched an offer document to Hornby shareholders in relation to a mandatory unconditional cash offer by Phoenix for the Hornby shares not already held by members of the Phoenix Concert Party.
Cenkos says search for Durkin successor progressing but no appointments made
AIM-listed broker Cenkos Securities confirmed on Monday that its search for a successor to chief executive officer Jim Durkin has been progressing.
L1 Retail to buy Holland & Barrett for £1.8bn
L1 Retail, the retail investment arm of LetterOne, has agreed to buy health and wellness retail chain Holland & Barrett from US private equity firm Carlyle and Nature's Bounty for £1. 8bn.
Coats signs deal on Steveley pension fund deficit payments
Thread and zip maker Coats said it had signed a binding settlement agreement over its Staveley Industries pension scheme in return for a halt to legal action from The Pensions Regulator (TPR).
Hikma to split US business into two divisions
Hikma Pharmaceuticals has announced the retirement of Michael Raya, the chief executive officer of the US business, along with organisational changes to the US business and a number of senior leadership changes and appointments.
Ultra Electronics confirms possibility of Sparton acquisition
Ultra Electronics was forced to respond to press speculation over the weekend, after Mergermarket reported it was in talks to acquire its underwater sensors joint venture partner in a bid to strengthen its contractual ties with the US Navy.
Amec completes $170m sale of boiler business to Sumitomo
Amec Foster Wheeler said it has completed the sale of its circulating fluidised bed (CFB) boiler business to Sumitomo Heavy Industries for $170m, which will be used to reduce net debt.