THE DAILY BRIEFING
GROCER TIE-UP Shareholders in Nisa have overwhelmingly backed Co-op’s £137.5m deal to take over the company. A total of 75.8pc of members voted in favour of the offer, which will see Co-op take control of the chain’s 3,000 stores. FLIGHT BOOST The owner of London Stansted Airport toasted rising autumn passenger numbers.
Manchester Airports Group said numbers across all its airports jumped 5pc in October to 5.3m. MOSQUITO TAKEOVER Pestcontrol specialist Rentokil has acquired North America’s largest mosquito control firm, Vector Disease Acquisition. COSMETICS SALE Makeup firm Warpaint has snapped up budget cosmetics firm Retra. Retra owns low-cost make up brands Technic, Body Collection and Man’s Stuff, and also makes own-label products for Asda and Matalan. RETIREMENT DEMANDS The number of unpaid pension contribution notices issued to employers increased to 753 between July and September this year, up from 653 in the previous quarter, the pension regulator has claimed.
STAKE DITCHED A fund which is part of investment behemoth Hargreaves Lansdown has sold its entire stake in advertising giant WPP. Steve Clayton, manager of its select UK growth fund, said it was due to advertising firms struggling in ‘an increasingly digital world’. TECH CASH London- based Trouva, a company that helps independent shops sell products online, has raised £7.6m in a funding round. DEFENCE MOVE The former chief executive of BAE Systems, Ian King, has been hired as chairman of aerospace group Senior. STOCK FLOAT Private motor insurance underwriter Sabre Insurance Group is planning to join the London Stock Exchange. It is seeking to raise £213m in the float. HOUSING GROWTH FTSE 100 housebuilder Taylor Wimpey said demand for new housing remains high across the UK and UK. Its total order book of 8,751 homes is worth £2.2bn. CHIPS UP Qualcomm shares rose nearly 2pc after the chipmaker rejected rival Broadcom’s £78.6bn takeover bid, which bosses said ‘dramatically’ undervalued the company.