International Distribution Services


Royal Mail’s owners, International Distribution Services, have this morning confirmed they have reached agreement with Czech billionaire Daniel Kretinsky’s EP Group regarding a cash offer for the business. 370p per share has been tabled, representing a 72.7% increase from the closing price on April 16th before the offer period got underway. However there’s a strong political undertone here, especially in the run up to a General Election and the deal has been flagged as one that could be called in for review under the National Security and Investment Act. Shareholders appear wary with today’s early gains of 3.5% still leaving the stock more than 10% below the target price.


Revolution Bars Group


The struggling high street leisure operator has this morning provided another update on its attempts to find a lifeline, delaying its planned General Meeting to mid-June in order to give shareholders more time to consider their options. There’s a feeling that investors are being painted into a corner here with the Nightcap proposal now seen as incapable of delivery, so unless the funding round completes, shareholders seem set to see no return at all. The stock is down 10% in early trade.


Pets At Home


The pet supplies and veterinary services company published full year results showing a solid performance with notable growth in the vet side of the business. This sector has been under scrutiny from the Competition and Markets Authority but management seem confident that they have no liability here. With a robust outlook and a strong start to the current year’s sales, investors have been lending support for the company with shares nudging up around 3.5% in early trade.


Headlines we expect on Thursday


Autotrader Final Results

This time last year Group revenue £500m, Group operating profit £278m, Retrun to shareholders £225m.