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UK consumer stocks, most of which are naturally defensive companies in a recession, have held up relatively well in the face of the cost of living crisis.
Microsoft agreed that if its pursuit of Activision is successful it will licence its game 'Call of Duty' to PlayStation console maker Sony for another decade.
The board of the 166-year-old City firm has agreed to be swallowed up by US outfit Searchlight Capital - subject to agreement by shareholders.
Gresham House and Bidco, a newly formed company created by funds advised by Searchlight, said that it had agreed to the terms of a proposed final cash offer for the company’s whole issued share capital.
The Gresham House purchase has been described by shareholders as “bittersweet”, as yet another UK listed business leaves the London bourses.