Modest gains for the food deliver service Deliveroo this morning after it was confirmed that Doordash would by the company in an all cash transaction worth £2.9 billion. News first broke just under two weeks ago that the deal had been tabled, with directors noting that they would be minded to accept the terms. The deal represents a 40% premium to the volume weighted average price for the three months immediately before the offer was initially tabled. The Deliveroo share price was 2% higher in early trade.
Strong gains for Australia-based Resolute Mining after the company announced at the end of last week that it had completed the acquisition of the Doropo and ABC gold projects in the Côte d’Ivoire. The Australian listing of the stock rallied hard yesterday with London playing catch up after the long weekend break. The Resolute Mining share price was 14% higher shortly after the open.
Foreign exchange risk management company Alpha Group this morning issued a statement confirming that it received an all-cash bid approach from Corpay ahead of the weekend break. Following careful consideration by the board, a decision has been made to unanimously reject the offer. No details of the proposed terms were revealed but the Alpha Group share price was trading up by more than 6% in the first few minutes of the session.
Most read news on Investegate this morning
Recommended offer for Deliveroo PLC - - Deliveroo Class A (ROO)
Response to media speculation - - Associated British Foods (ABF)
