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London midday: Traders play 'spot the bid target'

Fri, 03rd Sep 2010 12:16

Footsie finished the morning not far off its high for the day, marginally above the 5,400 mark. It was a quiet morning for hard news, however, so traders entertained themselves with some good old fashioned bid speculation.Temporary power solutions provider Aggreko is the top performer on whispers that someone may be preparing a bid, but the rumour has not yet developed to the stage where the name of the putative predator has been determined.Autonomy is higher for a second day on bid rumours. Gossip doing the rounds yesterday was acquisition-hungry US software giants Microsoft and Oracle are in the frame as likely bidders at a price north of 2500p per share. Hedge fund manager Man is wanted after Numis Securities issued a "buy" note yesterday while mobile phones network colossus Vodafone edges higher after Deutsche Bank lifted its price target but there is not much enthusiasm for Homebase and Argos owner Home Retail ahead of results next week. The retailer could be facing ejection from the FTSE 100 constituents next week, which is also undermining demand for the shares. BP's bill for cleaning up after the oil spill in the Gulf of Mexico has hit $8bn (£5.2bn), up over £1bn in less than a month, and the relief well is not expected to intercept the broken MC252 well for a couple of weeks.Fears that BHP Billiton might end up in a bidding war in its pursuit of Canadian fertiliser firm Potash receded a little after Canadian pension fund Alberta Investment Management spurned an approach from Chinese investors keen to launch a counterbid to BHP's $40bn (£26bn) offer.Soco has plugged and abandoned its first wildcat exploration drilling well at Nganga 1 (NGA-1) in the Nganzi Block, onshore the Democratic Republic of Congo, after hitting water. It's been a tough six months for banana importer Fyffes but conditions have "normalised" over the summer months and the group remains on target to meet forecasts, though profits are well down on last year. Sports and leisure equipment firm Tandem said it expects full year results to be well ahead of market expectations and will pay an interim dividend. Revenue from its Dawes cycle business showed exceptional growth, well ahead of market performance, it added.Ukrainian wheat farmer Landkom is wanted as heat future prices surge in the wake of Russia's decision to extend its ban of wheat imports. Last month Landkom said that it expects to benefit from higher wheat prices caused by hot weather while missing out on the worst of the heat damage that is ravaging crops in the east of Ukraine and Russia . Most of Landkom's farming areas are in the west of Ukraine, which has been unaffected by drought. FTSE 100 - RisersAggreko (AGK) 1,511.00p +5.22%Autonomy Corporation (AU.) 1,776.00p +3.50%BAE Systems (BA.) 324.10p +3.45%Fresnillo (FRES) 1,130.00p +3.01%Barclays (BARC) 318.90p +2.21%Smith & Nephew (SN.) 554.00p +1.84%British Land Co (BLND) 474.10p +1.52%Standard Chartered (STAN) 1,863.00p +1.47%Man Group (EMG) 232.20p +1.40%Pearson (PSON) 1,010.00p +1.35%FTSE 100 - FallersVedanta Resources (VED) 1,979.00p -1.59%Tullow Oil (TLW) 1,170.00p -1.27%Home Retail Group (HOME) 219.40p -1.08%Whitbread (WTB) 1,502.00p -0.86%Schroders (SDR) 1,389.00p -0.79%Schroders NV (SDRC) 1,129.00p -0.79%Centrica (CNA) 323.60p -0.68%United Utilities Group (UU.) 584.00p -0.60%Legal & General Group (LGEN) 94.70p -0.53%Aviva (AV.) 393.70p -0.38%
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17 Feb 2017 17:11

Fyffes Takeover Completed As Scheme Becomes Effective

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6 Feb 2017 10:43

EU clears Sumitomo takeover of Fyffes

(ShareCast News) - Sumitomo Corporation's €751m (£646m) takeover of fruit distributor Fyffes has been cleared by the European Commission. AIM-Listed Fyffe's agreed to the deal last December. Fyffes shareholders are to receive €2.23 per share under the terms of the transaction.

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9 Dec 2016 10:12

Sumitomo to buy Irish food distributor Fyffes for €751.4m

(ShareCast News) - Fyffes has agreed to be bought by Japan's Sumitomo in a €751.4m deal. Under the terms of the acquisition, the Irish food distributor - known for its banana business - will receive €2.23 in cash for each of its shares, which is a premium of around 49% to the closing price on Thursd

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16 Sep 2016 12:25

Fyffes to raise €47m on the London and Irish stock exchanges.

(ShareCast News) - Irish fruit and fresh produce company Fyffes raised about €47m through a share placing on the London and Irish stock exchanges. The company, through stock broker J&E Davy, will place about 31.45m shares at €1.50, with each share carrying a voting right and a dividend payment, repr

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15 Sep 2016 16:19

Fyffes Launches Placing To Bolster Balance Sheet After Acquisitions (ALLISS)

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8 Sep 2016 07:50

Fyffes buys second Canadian mushrooms producer

(ShareCast News) - Fyffes' has returned to Canada for second helpings of mushroom, acquiring Canada's second largest fungi farmer, All Season Mushrooms, for CAD$59.1m (€41m) after buying the country's number-one producer earlier in the year. Ireland-based and AIM-listed Fyffes bought 100% of All Sea

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2 Sep 2016 07:16

Fyffes Reconfirms Full-Year Guidance As First-Half Profit Rises

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29 Apr 2016 07:36

Fyffes Raises 2016 Guidance After Buying Mushroom Producer Highline

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25 Apr 2016 15:07

AGM, EGM Calendar - Week Ahead

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1 Apr 2016 14:28

Fyffes gets into the Canadian mushroom business

(ShareCast News) - Fyffes expanded into the Canadian mushroom business on Friday, purchasing 100% of the equity of the country's largest producer. The AIM-traded banana company said it paid CAD 145m (£77.9m) for Highline Produce, funded through new and existing bank debt. Fyffes' board described Hi

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1 Apr 2016 07:15

Fyffes Buys Mushroom Producer Highline Produce For CAD145 Million

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2 Mar 2016 09:35

BROKER RATINGS SUMMARY: Goldman Cuts Pearson To Sell From Neutral

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26 Feb 2016 15:34

Investors peel away from Fyffes stock after good results

(ShareCast News) - Brits going bananas for imported fruit made for a good year at Fyffes in its annnual report on Friday, but investors weren't sharing the sentiment. The AIM-traded company saw EBITDA increase 16.4% to €56.1m (£44.2m) in the 2015 calendar year, and reported earnings per share growth

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26 Feb 2016 08:55

Fyffes Profit Down In 2015 On Pension-Scheme Charge, Eyes Acquisitions

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19 Feb 2016 16:09

Earnings, Trading Statements Calendar - Week Ahead

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