THE DAILY BRIEFING
TOY TAKEOVER Struggling toymaker Hornby has rejected the latest bid of 32.375p a share for its business from largest shareholder Phoenix UK Fund claiming the bid ‘significantly undervalued’ the business and its prospects.
ALE INVESTMENT Pub chain Wetherspoons is set to splurge £13.2m – its biggest single investment – on a 98-room bar and hotel in Dublin, creating 200 jobs.
NUCLEAR COSTS The Hinkley Point C nuclear power station could face £2.6bn of cost increases and delays of up to two years, according to the French press. France’s state power company EDF is working on the Somerset project.
TECH DEAL UK tech giant ARM Holdings has joined in a £17m investment round for Bristol microchip maker Blu Wireless Technology.
POOLS DITCHED Betting firm Sportech has sold its iconic 94-yearold Football Pools business to private equity giant OpCapita for £83m.
ARAMCO ANGER Investment giant Royal London Asset Management has hit out at plans to list £1.6trillion oil giant Saudi Aramco on the London Stock Exchange as the stake floated might be as little as 5pc, giving investors virtually no say over the business’s direction.
APP CASH Payment app Yoyo Wallet, which is used for payments in 1,700 outlets including universities, has raised £12m from backers.
OIL STRIKE UK oil explorer Enquest yesterday announced its first oil from its Kraken field in the North Sea.
BOSS LEAVES The head of drugs firm Hikma Pharmaceuticals’ American division Michael Raya is retiring after 25 years at the helm.
AIRPORT FEARS The Government’s infrastructure adviser Lord
Adonis has said it must stop delays over Heathrow expansion after fears a third runway could be cancelled due to the hung Parliament.
TYRE DEAL Sensor firm
Transense Technology has won a contract to supply tyre-monitoring systems for large-haul trucks to mining giant Glencore. Shares shot up 9.1pc, or 6p, to 71.5p.
FACE TV Social media giant Facebook is in talks with Hollywood studios about plans to produce its own TV- style shows, according to the Wall Street Journal.