FTSE 250 movers: Sanne’s supply increases; Domino’s retreats
Asset management service provider Sanne climbed to the top of the index as it said it was in talks with Cinven after the buyout company made a new 875p-a-share offer for the company.
Sanne had previously rejected a Â£ 1.35 billion proposal as being too weak. Cinven now has until July 9 to make a firm offer.
Broker Liberum said: “We believe the board was probably put under pressure from the shareholder base to accept an offer after news of Cinven’s initial approach became public. This is due to the poor performance of the company. share price in recent years and slow earnings growth, which has probably led to the frustration of some shareholders.
“We therefore believe that the board of directors will recommend Cinven’s offer and that the buyout will go through. This further proves the appetite for private equity for professional services firms and the willingness to pay attractive premiums at listed valuations. . “
Domino’s Pizza lost ground after it emerged CFO Neil Smith was leaving the group to become CFO of the pub and hotel company Fuller, Smith & Turner.
Just eat take out was on the back foot. On Thursday, the company announced that it had obtained approval for the acquisition of Grubhub and is expected to close the deal on Monday.
FTSE 250 – Lifts
Sanne Group (SNN) 853.00p 10.49%
Chrysalis Investments Limited VAN (CHRY) 223.00p 6.19%
Hill & Smith Holdings (HILS) 1,488.00p 4.35%
Train line (TRN) 265.00p 3.03%
Allianz Technology Trust (ATT) 274.00p 3.01%
Ferrexpo (FXPO) 463.40p 2.89%
Kainos Group (KNOS) 1416.00p 2.68%
Baillie Gifford US Growth Trust (United States) 322.00p 2.55%
AO World (AO.) 250.20p 2.46%
Technology group of bytes (BYIT) 489.80p 2.43%
FTSE 250 – Fallers
Just Eat Takeaway.Com NV (CDI) (JET) 6,458.00p -2.52%
Cineworld Group (CINE) 86.16p -2.47%
CMC Markets (CMCX) 486.00p -2.31%
Unite Group (UTG) 1,149.50 p -2.17%
Catering group (RTN) 130.40p -2.10%
Workspace Group (WKP) 878.50p -2.06%
Domino’s Pizza Group (DOM) 383.20p -1.79%
Volution Group (FAN) 401.00p -1.47%
Aston Martin Lagonda Global Holdings (AML) 1,939.00p -1.47%
GCP Infrastructure Investments Ltd (GCP) 97.60p -1.41%