Royal Mail, Kier Group and Thomas Cook set to lose out in tomorrow’s FTSE reshuffle, as insurer Hiscox looks set to join the big league December 4, 2018 Royal Mail will need a miracle to avoid relegation from the FTSE 100 Index tomorrow, as insurer Hiscox looks ready to step into its place as a blue chip firm. The winners and losers of the last FTSE reshuffle of the year are to be announced tomorrow afternoon, with Thomas Cook, Kier Group and the [...]
Thomas Cook shares continue to fall, dragging FTSE firms down with it November 28, 2018 Package holiday provider Thomas Cook's share price has continued to fall for a second day, after having more than £175m wiped off its market value yesterday. The firm announced its third profit warning in five months, blaming the UK's long summer heatwave for a decline in Brits heading abroad. Shares in the FTSE 250 company declined by [...]
Restaurant Group shareholders approve £559m Wagamama takeover despite vote revolt November 28, 2018 Restaurant Group shareholders approved the planned the £559m takeover of Wagamama today, but 40 per cent of shareholder votes opposed the deal. The vote sent the Restaurant Group's share price down by almost 10 per cent. The Frankie and Benny's owner had been set for a shareholder showdown after a number of investors voiced their intentions to vote [...]
Proxy advisor recommends shareholders oppose Restaurant Group’s Wagamama takeover on the eve of the vote November 27, 2018 An influential shareholder group has recommended investors oppose the Restaurant Group’s £600m takeover of Asian fusion chain Wagamama on the eve of the vote. Pensions and Investment Research Consultants (Pirc) said the “risks and adverse implications for shareholders appear too great to overlook”. The proxy advisor's recommendation comes as investors prepare to cast their votes [...]
Investors show mixed appetite for Wagamama takeover as vote draws near November 25, 2018 A shareholder showdown looms over The Restaurant Group’s £559m planned takeover of Wagamama this week, with a number of major investors gearing up to oppose the deal. The Frankie and Benny’s owner could suffer a shareholder rebellion on Wednesday after several top investors signalled their intentions to vote against the proposed acquisition. Columbia Threadneedle Investments – [...]
Schroders plans to support the Restaurant Group’s proposed £600m Wagamama deal November 23, 2018 Schroders, a top 10 shareholder in the Restaurant Group, has come out in support of the Frankie and Bennies owner’s acquisition of Wagamama. It comes as several major investors announced they would oppose the deal at a meeting next week, saying the £600m price tag is too steep. Schroders fund manager Andy Brough said: “The [...]
Second major shareholder plans to vote down the Restaurant Group’s Wagamama deal November 22, 2018 A second major investor will oppose the Restaurant Group’s (TRG) £600m acquisition of Wagamama on the grounds of price. The investor – which declined to be named – told City A.M. that the multi-million pound price tag is too expensive. It comes after top 10 shareholder Columbia Threadneedle, which owns 7.7 per cent of TRG, [...]
Restaurant Group shareholders voice anger over £600m Wagamama price tag November 20, 2018 Nervous investors have raised concerns over the price of the Restaurant Group’s (TRG) proposed £600m acquisition of Wagamama as a major shareholder announced its intention to vote against the deal. Columbia Threadneedle, which owns 7.7 per cent of TRG, will oppose the proposal at a shareholder vote next week, it announced today. Frankie and Benny’s owner [...]
Hold wants you to put down your phone and reward you – this is how marketing can be more mindful of our health November 12, 2018 There's a famous quote by graffiti artist Banksy from 2004 about advertising that’s too long to post here, but in summary accuses “The Advertisers” of butting into consumers’ lives with ads that “leer at you from tall buildings, and make you feel small”. An oversimplification, of course, and perhaps a glib way to start a [...]
The Restaurant Group prepares to raise £315m for Wagamama deal despite criticism November 12, 2018 The Restaurant Group (TRG) pushed ahead with a rights issue to raise £315m to finance its acquisition of Wagamama today, despite concerns from analysts and investors. The rights issue to raise cash for the takeover will be underwritten by JP Morgan Securities, TRG said this morning, in a deal valuing the chain at £559m. “This a transformative deal [...]