Upstream Takeover Rumours (UPS)

CABP 78.70p (-27.90 / -26.17%) 0 StoneX decides to not make takeover offer for CAB Payments CAB Payments Holdings PLC - London-based payment processing and foreign exchange provider - StoneX Group Inc, a New York-based provider of clearing and execution services, says it will not make a takeover offer for CAB Payments. StoneX provides no reason in a stock market statement on Thursday. CAB notes the announcement and says it is "highly confident" in its strategy as a stand-alone company, adding it will provide a 2024 trading update in January. Early last month, CAB said StoneX was considering making an offer at 145 pence per share, which would have valued CAB at just under GBP370 million. CAB had listed in London in 2023 at 335p per share.

Kelso acquisition vehicle Selkirk says IPO in early November Selkirk Group PLC - London-based acquisition vehicle focused on consumer, technology and digital media sectors in the UK - Selkirk expects its initial public offering on AIM in London will take place early next month, having originally planned it for October. The company is currently half owned by London Main Market-listed investor Kelso Group Holdings PLC and half by fund controlled by Belerion Capital. Selkirk hopes to raise GBP7.5 million in the IPO, which will be led by Zeus Capital Ltd as nominated adviser and broker. Once listed, it aims to buy a company with an enterprise value of between GBP30 million and GBP1 billion in a reverse takeover.

Kibo Energy shareholders okay acquisition of green projects Kibo Energy PLC - Galway, Ireland-based company with energy projects in Africa and UK - Says its shareholders have approved its proposed acquisition of renewable energy projects across Europe and Africa from Swiss-registered ESGTI AG for EUR400 million. Kibo asked its shareholders to vote on the deal at an extraordinary general meeting on Friday. In line with the reverse takeover, Kibo is required to enlarged its share capital to be readmitted to AIM. A placing to accompany the reverse takeover will have a target raise of EUR30 million. The transaction is also subject to completion of due diligence and regulatory clearances. The assets Kibo plans to buy comprise 36 development projects, spanning 15 countries from early stage to under construction, with a target of 20 Gigawatts generation capacity within six years. Kibo shares are suspended both in London and Johannesburg.

Lithium miner Arcadium confirms Rio Tinto takeover approach Oct 6 (Reuters) - Lithium miner Arcadium on Sunday confirmed that global mining giant Rio Tinto has approached it regarding a potential acquisition. "The approach is non-binding and there is no certainty that any transaction will be agreed to or will proceed," Arcadium said in the statement. Earlier this week, Reuters exclusively reported that the companies had been holding talks and a deal that would make Rio the third-largest producer of the electric vehicle battery metal.

SUNDAY papers: Share tips, comment and bids The Sunday Times: The Belgian insurer Ageas which made an ill-fated multibillion-pound bid for Direct Line is on the hunt for a takeover in Britain as it sets its sights on becoming a market leader. The Sunday Times (Comment): Why Hong Kong’s Li Ka-shing could be the one to rescue Thames Water. The Sunday Times (Comment): An upturn in consumer spending should lift the UK out of economic stagnation over the next year or so. But sustained growth will be a huge challenge.

Advanced Medical Solutions jumps on takeover speculation as H1 profits rise According to a report in Sky News on Tuesday, Inflexion has been studying a takeover of AMS, though no discussions are said to have taken place. Sky also said "other private equity firms" were interested in the company. The speculation came as AMS delivered an 8% increase in adjusted pre-tax profits to £14.8m in the six months to 30 June on revenues that were 8% higher at £68m. AMS said it saw growth across all categories within the Surgical Business unit, which grew 23% to £48.4m overall, outweighing ongoing challenges in Woundcare which saw revenues drop 27% to £19.5m. The board has now completed a strategic review of the Woundcare arm and "concluded that profitability of the unit can be improved by focusing on higher margin business and reducing investment in certain areas", AMS said in a statement.

: Sunday papers: Top stories The Sunday Times: Plans to build a large nuclear power station in Wales are at risk of being scrapped as Ed Miliband seeks to accelerate Britain’s switch to a net zero electricity grid. The Sunday Times: Housebuilder Bellway pulled out of its £720m takeover of Crest Nicholson over concerns about its smaller rival’s ballooning bill to fix dangerous cladding after the Grenfell Tower tragedy.

Renalytix ends sale process without offer; considers funding Renalytix PLC - London-based in vitro diagnostics for kidney disease - Shares fall as Renalytix ends the formal sale process it launched back in March without an offer. Based on its discussions to date, the board doesn't think there is a "realistic prospect" of a takeover offer in the "near term". Renalytix says it is in talks with "key stakeholders" in the company about "a suitable capital structure and funding". Cash runway extends into the fourth quarter of this year based on its cash position of USD4.7 million on June 30. "The company believes that the total addressable market opportunity for [its testing product] KidneyIntelX provides potential for significant growth in revenues over the next 3 years, subject to funding and continued development of commercial partnerships," it says. Current stock price: 11.15 pence, down 23% in London on Tuesday

Sunday papers: Top stories The Sunday Times: Philip Jansen, the former boss of BT, is working on a secret private equity-backed takeover bid for the FTSE 100 pest control empire Rentokil Initial. The Sunday Times: Universities are facing a financial crisis before the new academic year with an analysis finding that scores will have to cut courses, shut departments and put thousands of jobs at risk.

Sunday papers: Share tips, comment and bids Mail on Sunday (Midas share tip): BUY LondonMetric. Mail on Sunday (Midas share tips update): HOLD Cordiant. The Sunday Telegraph: The Czech billionaire behind a controversial takeover of Royal Mail is preparing to spend £800m on undercutting rivals and rolling out a network of parcel lockers as he seeks to take on Amazon. The Sunday Times: Carwow has tapped San Francisco-based Bessemer Venture Partners, one of the world’s oldest venture capital firms, in a funding round that values the online vehicle marketplace at $320m. The Observer (Comment): Renewable energy brings a new set of challenges. The Sunday Times (Comment): Hinkley Point C, the mega-project digging tunnels under the sea.

Keywords says takeover deadline for EQT extended by 2 weeks Keywords Studios PLC - Dublin-based provider of technical and creative services for video game production - Takeover Panel agrees extension by which private equity firm, EQT Group, must announce a firm intention to make an offer for Keywords to June 28. Original deadline was this Saturday. In May, EQT made a cash approach valuing each share in Keywords at 2,550p, or around GBP2.03 billion. Keywords said the latest approach followed "four previous unsolicited proposals from EQT in recent months". At the time, Keywords said it would back an offer at that level should a firm bid be made. Current stock price: 2,224.00 pence, up 4.1% in London on Friday

SUNDAY PAPERS Share tips, comment and bids The Sunday Times (The Tipster): Sanderson Design has renewed itself, not just papered over the cracks. Mail on Sunday (Midas share tips): Yes, the UK market is bursting back to life - and here are four stocks to prove it (National Grid, Great Portland Estates, Special Opportunities, Raspberry Pi). Mail on Sunday: Glencore is understood to be among the potential bidders circling mining giant Anglo American’s coking coal business. The Observer: Everton say they are assessing ‘all options for the club’s future ownership’ after 777 Partners’ proposed takeover fell through. The Sunday Times (Comment): The woman who wants to bring the glory days back at Sky.