July 29, 2019 / 7:40 AM / 3 months ago

REFILE-FTSE 100 higher on Just Eat, LSE deal news

(Corrects spelling of ‘sinks’ in 4th bullet)

* FTSE 100 up 0.3%, FTSE 250 about flat

* Just Eat jumps after all-share deal with Takeaway.com

* LSE gains on talks to buy Refinitiv

* Sports Direct sinks to lowest since Feb. 2011

July 29 (Reuters) - London’s FTSE 100 rose on Monday as talks of a possible deal drove shares of London Stock Exchange higher, along with the shares of Just Eat, which surged following an all-share deal with rival Takeaway.com.

The main index added 0.5% and the mid-cap FTSE 250 was largely unchanged by 0715 GMT, even after Sports Direct tanked after delayed results on Friday showed lower core earnings and a potential tax bill.

Shares of Just Eat soared 23% to 782.4 pence and hit highest since March after the company agreed to an all-share deal with an implied value of 731 pence a share with rival Takeaway.com.

London Stock Exchange surged nearly 12% to an all-time high after the company confirmed late on Friday it was in talks to buy financial data analytics provider Refinitiv Holdings for $27 billion, including debt.

Thomson Reuters, the parent company of Reuters, holds a 45% stake in Refinitiv.

On the mid-cap index, Sports Direct tumbled 17.3% after its delayed results statement showed annual core earnings fell due to problems integrating House of Fraser and as it warned it could face a 674 million euro tax bill from Belgium. (Reporting by Shashwat Awasthi in Bengaluru; Editing by Shounak Dasgupta)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below