Premarket London: Just Eat Rejects New Prosus Offer

Investing.com — Here is a summary of the most important regulatory news releases on Tuesday, 10th December. Please refresh for updates.

• The board of food app Just Eat (LON:) rejected the new 740p cash offer from Internet conglomerate Prosus (AS:), saying that it still undervalues the company.

• It continues to recommend the competing, all-share offer from Dutch-based Takeaway.Com (AS:).

• Just Eat shares closed on Monday at 781p.

• Plant hire group Ashtead (LON:) raised its interim dividend to 7.15p a share after the first half of its fiscal year ending in April but warned that currency headwinds and “challenging” U.K. trading conditions may hold back earnings in the second half.

  It said it would take measures to refocus it’s A-Plant business in the U.K. but didn’t say what costs that might entail.

  The group’s main business in the U.S. continues to perform strongly in line with expectations, it added.

  Underlying earnings per share rose 11% to 111.8p on a 14% rise in revenue.

• Fashion group Ted Baker (LON:) said its chief executive officer and chairman have stepped down, and suspended its dividend after lowering its full-year outlook again.
• The news comes less than a week after the company warned of a possible restatement of its accounts after saying it may have overstated inventory by up 25 million pounds ($32 million).
• Chief Financial Officer, Rachel Osborne, becomes interim CEO.
• Sharon Baylay has replaced chairman David Bernstein, also on an interim basis.
• • Warehouse builder Segro (LON:SGRO) said it has agreed to sell a portfolio of Big Box warehouses to a fund advised by Morgan Stanley (NYSE:MS) Real Estate Investing for 241 million pounds. The price is in line with the recorded book value.
  • Most of the warehouses involved are in the English Midlands. The combined vacancy rate is 18.5 and the current passing rent is 10.1 million pounds.
  • The proceeds will be recycled into existing and future development programs, chief investment officer Phil Redding said.

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