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1. Rolls-Royce Holdings Plc (LON: RR.)
Rolls-Royce, an engineering giant, entered into an agreement with a consortium led by Bain, a private equity giant, to sell its Spanish ITP Aero business for £1.5 billion (EUR1.7 billion). The deal is slated for completion in H1 2022. The consortium that is taking over the aircraft engines and turbines manufacturer - ITP Aero also comprises JB Capital and Sapa.
ITP Aero’s revenues stood at £628 million (EUR735 million) in 2020 and earnings before interest and taxes was £34 million (EUR40 million). The move is a step for Rolls-Royce to raise £2 billion through disposals to improve its credit position.
Tuesday – September 28
- Blue Prism Group Plc (LON: PRSM)
Blue Prism, the software development company, announced its sale to the US-based Vista for £1.1 billion or 1,125 pence per share. Blue Prism is engaged in developing software for automating back-office processes such as compliance checks and invoicing. The tech company’s sale is the latest in the series of foreign takeovers of UK tech companies. As a part of the deal, Blue Prism will merge operations with Vista-owned TIBCO, a software company. Vista won the acquisition bid against TPG Capital.
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Image Description: Famous business news of the week
Wednesday – September 29
- AstraZeneca Plc (LON: AZN)
FTSE 100 AstraZeneca’s subsidiary Alexion Pharmaceuticals announced the takeover of Caelum Biosciences, a company engaged in developing treatment for AL amyloidosis, for £370 million ($500 million). The deal is expected to strengthen AstraZeneca’s pipeline of drugs and add these rare disease treatment products to Alexion’s portfolio. Alexion exercised the option to buy all the remaining equity in Caelum Biosciences. The acquisition is expected to accelerate the company’s ongoing Phase III clinical development of CAEL-101, a potential first-in-class drug for AL amyloidosis treatment.
Thursday – September 30
- Deliveroo Plc (LON: ROO)
UK’s delivery giant, Deliveroo partnered with the country’s leading supermarket chain Morrisons to roll out Deliveroo Hop, its first "dark store" for quick delivery of groceries in Central London. Currently, about 10% of Deliveroo's revenues in the UK emanate from its grocery delivery business. The new last-minute delivery service promises to deliver products within 10 - 15 minutes and will be available to app users initially in Battersea and Vauxhall. With Deliveroo Hop, the company aims to enhance its on-demand grocery delivery service for consumers and grocery partners.
Friday – October 1
5. JD Wetherspoon Plc (LON: JDW)
JD Wetherspoon, a pub chain operator, reported a loss before tax of £155 million for the year to 25 July due to the impact of the COVID-19 pandemic. The company’s revenues for the period declined 38.8% to £772.6 million from £1,262.0 million for the same period in 2020. The company is facing new challenges in filling vacant job applications and supply chain issues caused by the HGV driver shortage. Its total employee count as of September 2021 was 42,003 compared to 43,219 at the end of 2020.
