Pennon Share News (PNN)

UK earnings, trading statements calendar - next 7 days

IN BRIEF: UK CMA may clear Pennon acquisition of Sutton & East Surrey

Pennon Group PLC - Exeter, England-based water utility - The UK Competition & Markets Authority sees "reasonable grounds" to clear Pennon's acquisition of Sutton & East Surrey Group Holdings Ltd, formerly named Sumisho Osaka Gas Water UK Ltd. Pennon agreed to the deal, which has an enterprise value of GBP380 million including debt, in January. The CMA launched a phase 1 merger inquiry into the deal in March and earlier this month said the deal could face a deeper investigation should "acceptable" undertakings not be made by Pennon. On Tuesday, the competition regulator says Pennon has offered to provide reporting for Sutton & East Surrey Water separate from the rest of Pennon. This could address the CMA's concern that the merger will harm water regulator Ofwat's ability to make comparisons between water utilities. The CMA now has until July 16 to decide whether or not to accept Pennon's undertakings.

CMA mulling over Pennon-SES deal

(Sharecast News) - Watchdog the Competition and Markets Authority said on Tuesday that it may accept Pennon Group's solutions to address concerns regarding the water utility outfit's purchase of Sutton and East Surrey Water, potentially clearing a path for the deal to go through.

LONDON BROKER RATINGS: AstraZeneca target raised; Antofagasta lowered

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Friday:

UK watchdog raises concerns over Pennon-SES water deal

May 3 (Reuters) - British water company Pennon faces in-depth regulatory investigation of its purchase of rival Sutton and East Surrey (SES) Water unless it can address concerns raised by the competition watchdog.

Pennon seeks to allay CMA's concerns over South West Water acquisition

(Alliance News) - The UK's competition watchdog on Friday warned Pennon Group PLC that its planned acquisition of Sumisho Osaka Gas Water UK Ltd could face a deeper investigation should "acceptable" undertakings not be made.

LONDON BROKER RATINGS: Jefferies cuts AJ Bell; Deutsche likes ConvaTec

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

CMA set for deeper probe of Pennon's SES acquisition

(Sharecast News) - Pennon Group worked to assure the market that its acquisition of Sutton and East Surrey Water (SES Water) would avoid a deeper competition probe on Friday, telling shareholders that it planned to offer "appropriate undertakings" to regulators.

LONDON BRIEFING: InterContinental Hotels makes first-quarter progress

(Alliance News) - London's FTSE 100 is called to open higher on Friday, on the expectation of a softer US jobs report, which could take some sting out of hawkish Federal Reserve interest rate expectations.

LONDON BROKER RATINGS: BofA cuts Ashmore; JPMorgan lifts Fresnillo

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

LONDON BRIEFING: Antofagasta backs outlook; Entain says "more to do"

(Alliance News) - London's FTSE 100 is called to open lower on Wednesday, after a loftier than expected UK inflation reading, and amid lingering US interest rate worries.

LONDON BROKER RATINGS: UBS raises Crest Nicholson; Stifel cuts CRH

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

London close: Stocks finish firmer ahead of Easter break

(Sharecast News) - London's equity markets closed higher on Thursday ahead of the Easter break, despite lingering concerns over the UK's recessionary status in the latter part of last year.

Pennon continues to trade in line with expectations

(Alliance News) - Pennon Group PLC said its financial performance for the year ending March 31 remains in line with expectations, despite its waste water operational performance being impacted by "challenging" weather conditions.