Electrical retailer Currys saw its share price tumble this morning after Elliott Partners, the private equity play that had been looking to acquire the business said it was walking away from the deal. Noting that on the basis of the information it had available to it there was no justification for making a higher offer, shares in Currys sold off by around 10%. However that still leaves the stock meaningfully up on levels of a month ago before the bid news first surfaced.
AIM listed Aptamer found support this morning off the back of news that it had progressed its long-standing development partnership with Unilever. Following positive test results, the two companies are now working to draft patent applications to protect both the developments and downstream commercial applications. Aptamer’s shares were up 17% in the first hour of trade.
Another company is set to disappear from public markets with LoopUp group advising this morning that it believes it is now easier to raise funding in private as opposed to public markets. With the cloud telephony sector set for rapid growth in the coming years and the accompanying trading update offering some cause for cheer this could well work out in the longer term, although with £845k in the bank and a £6m loan falling due at the end of September, it’s clear that there’s work to be done. The listing cancellation is seen as instrumental in extending the current loan agreement. Shares are down 72% in early trade.
Headlines we expect tomorrow
Persimmon full year results
This time last year Completions 14,868, Average selling price £248,616, Cash at 31/12 £862m
Domino’s Pizza Group full year results
This time last year Group revenue £600m, Underlying pre tax profit £99m, FY Dividend 10p
