Prologis has challenged the forecasts used by SEGRO to reject its £13.5 billion takeover proposal. The US bidder must make a firm offer, withdraw or secure an extension by 5pm on Wednesday as major shareholders divide over SEGRO’s warehouse and data-centre value.
Mitie has agreed to a £3.1 billion takeover by private equity-backed rival OCS. The combination would create a UK-headquartered facilities-management group with approximately £8.5 billion of annual revenue, while raising questions about employment, competition and the continuing loss of companies from the London stock market.
The government has taken British Steel into public ownership as it seeks to preserve domestic steelmaking and protect thousands of jobs. Elsewhere, the incoming administration faces warnings over Britain’s £330 billion fiscal challenge, London’s listing crisis, pension investment barriers and retail employment costs, while the UK-India trade agreement creates new opportunities for exporters.
EasyJet has reached an agreement in principle on a proposed £5.5 billion takeover by US investment firm Castlelake, valuing the airline at £6.90 per share. The deal would take one of Britain’s best-known airlines private, but it is not yet complete and still faces shareholder approval, a formal offer deadline and regulatory questions over European airline ownership rules. The proposal highlights both the value of easyJet’s brand, slots and holidays business, and the risk that UK-listed companies are being bought while public market valuations remain subdued.
The FTSE 100 edged higher as investors weighed hopes of a US-Iran agreement against uncertainty over oil supplies, inflation and central bank policy. Falling crude prices have eased fears of another energy shock, but markets remain cautious as traders await more detail on the deal, the Bank of England’s next move and the wider impact on UK businesses.
