(Bloomberg) — Here’s the key business news from London-listed companies this morning:
Ideagen Plc: The software company has not yet received an approach from Cinven Limited, after they said they were in the early stages of considering an offer after the market closed on Thursday.
- Cinven has until 5 p.m. on May 12 to announce whether it intends to make an offer
Pearson Plc: The education company’s Online Program Management partnership with Arizona State University will end after 10 years.
- The company said there’ll be a “modest” impact on profit in 2022, which will be offset through fewer costs in 2023, and said there was no change to the group’s guidance
Spectris Plc: The specialist manufacturer will sell Omega, a provider of specialist sensors, to Arcline Investment Management for £403 million.
- This year, Omega is expected to return to levels of revenue last seen before the pandemic, and Spectris said the unit’s “next stage of development can be better fulfilled with the scale provided as part of a larger group”
SNRG Ltd: French private equity company Antin Infrastructure Partners will buy a majority stake in the U.K.-based smart grid systems company, without disclosing the terms of the deal.
- Antin said SNRG offers a “one-stop-shop” for smart grid solutions, including grid connections, distribution networks, solar PV panels, batteries, heat pumps and community EV charging
Outside The City
Boris Johnson is expected to address Parliament today. The Prime Minister will apologize for breaking lockdown rules but insist he was not aware he had done so, according to the Telegraph.
That’s as newspaper reports on Sunday heaped more pressure on the prime minister. The Sunday Times reported that Johnson gathered people round a table in Novermber 2020 and started drinking with them. According to the Mirror, the premier urged those present to “let off steam.”
Read the latest coverage of the war in Ukraine here.
In Case You Missed It
A consortium led by the Ricketts family has withdrawn its bid to buy Chelsea FC. The withdrawal trims the hunt for Chelsea down to groups spearheaded by former Guggenheim Partners President Todd Boehly, British businessman Martin Broughton and Bain Capital co-chairman Stephen Pagliuca.
A record number of business leaders in the U.K. warned of rising operating costs in a survey conducted by Deloitte, as inflation proves more sticky than thought. The survey found that 98% of chief finance officers at leading British companies expect operating costs to rise in the year ahead, with almost half of the those expecting the increase to be “significant”.
Looking Ahead
Oxford Biomedica Plc, 888 Holdings Plc and Bunzl Plc are among the companies reporting results tomorrow.
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