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Monday – November 08
1. ABRDN Plc (LON:ABDN)
Abrdn, an FTSE 100 listed asset management company, is eyeing the purchase of the Interactive Investor, an online stock-picking platform, for £1.5 billion. Abrdn is currently in talks with JC Flowers & Co, Interactive Investor’s private equity owner, over the potential acquisition.
JC Flowers & Co has been holding a majority stake in Interactive Investor since 2016. The deal would enable Abrdn to expand its direct-to-consumer (D2C) business by offering access to Interactive Investor’s 450,000 clients.
Tuesday – November 09
- Rolls-Royce Holdings Plc (LON: RR.)
Rolls-Royce secured over £450 million funding from investors and the government to roll out a new range of mini nuclear reactors. The company will launch a venture that would be engaged in developing small modular nuclear reactors (SMRs) in collaboration with BNF Resources and Exelon Generation, which have offered a joint investment of £195 million over a period of the next three years.
The government will match the total investment by the consortium, which is set to receive a second phase funding of £50 million. The initiative is a part of the government’s green 10-point plan.
Wednesday – November 10
- Halfords Group Plc (LON:HFD)
Halfords Group, a leading bike and cycle retailer in the UK, upgraded its full-year profits guidance to £80 - £90 million from the previous guidance of £75 million, as its supply chain issues begin to ease. The company reported revenues of £695 million for the half-year to October 2021, representing an increase of about 9% year-on-year, fuelled by the rising demand for e-scooters and e-bikes. The company’s servicing segment also accounted for a significant share in the group revenues and thus plans to increase the number of technicians to 4,000 by 2022.
Thursday – November 11
- Mitchells & Butlers Plc (LON: MAB)
Mitchells & Butlers, a UK-based pub and bar owner, inked a strategic partnership with Uber Eats. As per the terms of the partnership, customers will be able to order food from nearly 1,000 venues on the Uber Eats app. The partnership is being touted as one of the biggest pub collaborations on the food delivery platform.
Mitchells & Butlers, the owner of Miller & Carter, Toby Carvery, and Browns brands, is aiming to use the platform to popularise family sit-down meals along with the traditional takeaways. The Mitchells & Butlers inaugural offer on the app would include free delivery on meal orders during the first week of the partnership.
Friday – November 12
5. Young & Co's Brewery Plc (LON: YNGA)
Young & Co’s Brewery, a pub owner, operates over 270 sites across the UK. The company recorded an operating profit of £27.5 million for the six-month period ended 27 September 2021 compared to a £17.3 million loss during the same period in the previous year, driven by the relaxation of COVID-19-related trading restrictions.
The company’s revenues during the period reached £149.6 million. The pub group reported that sales were boosted by investment across its portfolio during the lockdown period. Additionally, the company also plans to tackle challenges such as rising national insurance, increasing national living wage, and growing energy prices by inking long-term supply contracts.
