Shares in the operator of healthcare buildings in the UK gained this morning after the company’s management rejected a revised bid approach from rival PHP and instead backed the certainty of an all-cash private equity offer. The Assura share price is trading almost 6% higher in early trade on Wednesday, although still sits around 2p below deal valuation.
Not related to a company specific announcement but fashion group Burberry has seen its shares hit again this morning. A combination of concern over weakness in some key Asian markets plus the impact of higher tariffs will be taking a toll here. The move underlines the volatility of the unfolding situation and the spat – specifically between the US and China – doesn’t appear likely to be heading towards a resolution any time soon. The Burberry share price is down around 3% at 8.45am.
And even the heavyweights of the FTSE-100 are struggling with drug maker AstraZeneca reeling in the wake of yesterday’s threats by Donald Trump to levy further tariffs on the industry in a bid to return pharmaceuticals manufacturing to the US and also prevent countries from applying price caps. AstraZeneca was trading down by more than 5% on Wednesday morning, knocking about £8bn off its valuation.
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Recommended Cash Acquisition of Assura plc - - Assura (AGR)
