A statement published last night by Mondi outlined the terms of the proposed merger between the two businesses in a deal that would imply a 373p valuation on DS Smith stock. The company’s share price has advanced to start closing this gap in a deal that is seen as delivering some significant synergies. However, there’s still the risk that this transaction might not complete. Shares were trading 7% higher in early trade on Friday.
Another company on course to end its public market tenure is Mattioli Woods, who announced a PE buyout bid had been agreed this morning, serving up a healthy return for shareholders. The AIM-listed financial adviser is being bought in a £432m deal and shares have quickly adjusted to factor in the upside here. An hour into the day and the stock was up almost 32%.
Another Financial Services company faring well on Friday was Just Group, in the wake of full year results having been published. Operating profits advanced by 47% whilst retirement income sales added 24%. Investors are being rewarded with a 20% uptick in full year dividends and management noted confidence that profits for FY24 would be at least a further 15%, thereby doubling the metric since FY21. Shares sat around 7% higher in early trade.
Headlines we expect on Monday
MTI Wireless Edge Full year results
This time last year Revenue $46.3m, Net profit $3.85m, Final dividend 3 cents per share
