These FTSE listed stocks, Morrison, Spire Healthcare, Hipgnosis, Rio Tinto, and Legal & General, are likely to be in action today.
Morrison Supermarkets Plc (LON: MRW)
Apollo Global Management, the US investment behemoth, has said that it was considering offering a rival bid to acquire Morrisons. The announcement comes two days after the supermarket chain said it accepted Fortress Investment Group’s offer of £6.3 billion. The offer has increased expectations of a bidding war between multinational companies.
The shares of the company closed at GBX 267 on 5 July.
Spire Healthcare Group Plc (LON: SPI)
Ramsay Health Care has agreed to up its offer to take over rival Spire Healthcare following shareholders’ complaints that the bid price was too less. Ramsay increased the offer to 250p each share from the initial offer of 240p each share. This would take the valuation of the business to just over £1 billion. Ramsay also clarified that no further increase would be made.
The shares of the company closed at GBX 240 on 5 July.
Hipgnosis Songs Fund Ltd (LON: SONG)
The company that owns the rights to as many as 65,000 songs by artists, including the likes of Neil Young and Beyoncé, has increased its dividend. The company expects the boom from streaming platforms like Peloton and TikTok to continue. The company’s revenue almost doubled to $160 million from $82 million in the year ended March.
The shares of the company closed at GBX 122 on 5 July.
Rio Tinto Plc (LON: RIO)
The mining giant has been told by traditional aboriginal owners that the company would no longer be welcomed to the country for company related events. The aboriginal owners are refusing to engage with the company till it showed seriousness about keeping the agreements with them updated.
The shares of the company closed at GBX 6,040 on 5 July.
Legal & General Group Plc (LON: LGEN)
The largest asset manager has cautioned that the takeover of Morrisons by a private equity firm could happen for the wrong reasons. A third US investment firm announced plans of making a formal bid for the fourth-largest supermarket chain in the UK. It said that potential buyers should not buy the supermarket chain to benefit from a possibly undervalued property portfolio, to reduce tax bills, or to pile it up with debt.
The shares of the company closed at GBX 266 on 5 July.