St. Modwen Properties (SMP) shares ticked up 19.55% to 534.5p after receiving £1.2 billion takeover offer
Shares in the British-based property investment and development business jumped on Friday after the firm said it had received a £1.2bn takeover offer from private equity firm Blackstone.
The company said the possible cash offer of 542p per share was a premium of about 21% to the stock’s last close on Thursday and would value the company at around £1.2bn.
In response, St Modwen Properties said that its board would be willing to unanimously recommend the proposal should Blackstone make a firm offer at that price by 4 June 2021.
Metal Tiger (MTR) shares rose 20% to 27p as it gains just over 5% in a week
Shares in the group which is focused on investing in natural resource opportunities have risen by over 5% in just over a week and by over 20% this afternoon despite having no news out.
Last week, the group released an activities report for the quarter ended 31 March 2021. The company highlighted that its focus for the quarter continued to be on diversification through the signing of an Investment Agreement (Agreement) with Armada Exploration Limited.
The group also completed the first stage of its acquisition of a controlling interest in Kalahari Metals Limited, a copper exploration JV firm in the Kalahari Copper Belt (KCB) in Botswana.
Tern (TERN) shares ticked up 17.31% to 15.25p as the firm focuses on IoT market growth
Shares in Tern have increased by over 7% in value since Tuesday when the company held its AGM. The firm said a series of resolutions were voted on by a poll and were duly passed.
In a pre-AGM statement, the investment company hailed the growth of its portfolio companies. In particular, it said its support has enabled them to achieve recent developments including Device Authority’s launch of KeyScaler for Azure Sphere in the Microsoft Azure Marketplace.
DC forecasts that the IoT market will maintain double-digit annual growth rates and will surpass the $1trn mark in 2022, it said. Tern added that it believes it can offer shareholders a participation in a portfolio of companies that it views as being at the forefront of this market.
Tekcapital (TEK) shares rose 13.46% to 15p as Belluscura confirms its intention to float on AIM
Shares in the UK intellectual property investment group rose on Friday afternoon after its portfolio company, Belluscura, informed investors of its plans to float on the AIM market.
Belluscura, which operates as a medical device developer focused on lightweight and portable oxygen enrichment technology, said it is seeking to raise £15 million via a conditional placing to support the commercial roll-out of its FDA cleared portable oxygen concentrator, X-PLO₂R, as well as to progress the company’s oxygen enrichment product portfolio.
Tekcapital holds 17.1m shares of Belluscura plc.
John Laing Group (JLG) shares fell 4.27% to 363.6p following surge on Thursday
Shares in the British-based infrastructure company fell on Friday after yesterday’s surge.
In response to its share price movement, the company issued a statement yesterday afternoon in which it confirmed that it is in discussions with KKR & Co. regarding a possible offer by KKR for the entire issued and to be issued ordinary share capital of John Laing.
It said there can be no certainty that any firm offer will be made nor as to the terms of said potential offer. The firm told shareholders that they should take no action at this time.