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UDG Healthcare acquisition by Nenelite completes

12 May 2021 | 08:41am StockMarketWire.com - UK stocks opened higher on Wednesday, recouping a portion of Tuesday's heavy losses, as local companies continued to release upbeat earnings updates as lockdowns ease. At 0830, the benchmark FTSE 100 index was up 38.72 points, or 0.6%, at 6,986.71. Sentiment also was buoyed by stronger-than-anticipated economic data, with British gross domestic product falling 1.5% in the first quarter, beating expectations of a 1.6% drop. Alcoholic drinks maker Diageo gained 3.1% to £32.875, on announcing that it would initiate the second phase of £4.5 billion ca...

UDG Healthcare agrees £2.6bn private equity offer The FTSE 250 group has also posted its interim results and announced the acquisition of US-based consultancy Nuvera UDG Healthcare PLC (LON:UDG) announced it is recommending a £2.6bn cash offer put forward by private equity firm Clayton, Dubilier & Rice. Under the terms of the acquisition, shareholders will receive 1,023p per share, which is a premium of 21.5% on Tuesday’s closing price. The board of directors unanimously voted in favour and recommend shareholders to approve the deal, the healthcare services provider said. “While the UD...

12 May 2021 | 07:09am StockMarketWire.com - Healthcare services provider UDG Healthcare upgraded its annual earnings guidance as improving margins in the first half helped offset weaker revenue. Pre-tax profit for the six months through March rose 5% to $65.1 million, up from $62.3 million year-on-year, even as revenue fell 5% to $661.4 million. For the full year, UDG forecast constant currency adjusted diluted earnings per share growth of between 10% and 12%, up from previous guidance of 9-11%. Currency adjusted operating profit growth was expected at 12-14% ahead of the $165.3 million year-...

12 May 2021 | 12:09pm StockMarketWire.com - The recovery in the FTSE 100 faltered by midday with the index 0.4% higher at 6,974.59 having briefly traded above 7,000 earlier on. Sentiment was buoyed by stronger-than-anticipated economic data, with British gross domestic product falling 1.5% in the first quarter, beating expectations of a 1.6% drop. Alcoholic drinks maker Diageo gained 3.1% to £32.875, on announcing that it would initiate the second phase of £4.5 billion capital return program, but extend its duration by two years to 30 June 2024. The welcome move came as Diageo forecast orga...