Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
FTSE 250 movers: Biffa surges on takeover news
(Sharecast News) - The FTSE 250 was down 0.85% at 20,332.21 at 1414 BST. Shares in waste management specialist Biffa surged by 25% on news it has given the green light to a proposed takeover approach worth more than £1bn.
The firm said it had received a series of unsolicited, indicative proposals from affiliates of Energy Capital Partners, the private equity firm, and following talks, a possible cash offer of 445p per share has been proposed.
Due diligence is now underway, and Biffa said it was "minded to recommend" the approach to shareholders should a firm offer be made on the same financial terms.
The offer values the business at around £1.36bn. Shares in Biffa closed at 325p per share on Monday, giving it a market value of £924.9m.
Shares in National Express fell as the company reinstated its short-term guidance following the improvement seen in various of its end markets, but said that short-term profitability would lag sales growth.
The intercity and inter-regional coach operator cited a stronger-than-expected recovery at its ALSA unit, driven by "strong" organic growth in Morocco, German rail revenue running at four times its pre-Covid 19 level and rising shuttle revenues in the US as workers return to their offices.
In the UK, topline growth was in line with expectations with airport volumes building back "strongly" and the company's expectations were for an equally strong summer.
However, for the short-term, the company reiterated its forecasts for the recovery in profitability to lag that in revenues, although margins were seen improving sequentially versus 2021.
It also noted the "unprecedented" levels of wage inflation in the US amidst industry-wide driver shortages.
FTSE 250 - Risers
Biffa (BIFF) 408.20p 25.60% Capricorn Energy (CNE) 213.00p 2.70% Mitie Group (MTO) 59.60p 2.41% Playtech (PTEC) 563.00p 2.09% Ultra Electronics Holdings (ULE) 3,268.00p 1.74% Mediclinic International (MDC) 412.80p 1.57% Abrdn Private Equity Opportunities Trust (APEO) 479.00p 1.48% Jlen Environmental Assets Group Limited NPV (JLEN) 123.80p 1.48% ICG Enterprise Trust (ICGT) 1,090.00p 1.30% Morgan Advanced Materials (MGAM) 324.00p 1.25%
FTSE 250 - Fallers
National Express Group (NEX) 249.40p -7.83% Ferrexpo (FXPO) 181.50p -6.06% Baltic Classifieds Group (BCG) 140.00p -5.02% Marks & Spencer Group (MKS) 143.50p -4.84% Bridgepoint Group (Reg S) (BPT) 320.80p -4.81% Currys (CURY) 80.70p -4.21% Renishaw (RSW) 4,058.00p -4.16% Kainos Group (KNOS) 1,210.00p -4.12% Genus (GNS) 2,610.00p -4.11% IP Group (IPO) 79.40p -4.11%
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
