FTSE 100 made a modest recovery after the hammering last week on fears over the new omicron strain of coronavirus. London’s blue-chip index was up 46 at 7,090 after dropping 266 points on Friday.
BT was the best of the risers on reports from India that conglomerate Reliance Industrial is looking at a bid. The weekend papers said a host of private equity firms are also interested in BT’s broadband arm Openreach.
Butlin’s parent company, Bourne Leisure, will be listed for sale by its private equity owner in an auction next year, according to reports today. This comes at a time when ‘staycations’ in Britain are still in high-demand which should raise the value of the holiday camp chain.
Marshall Motor Holdings PLC (AIM:MMH) (Marshall Motor Holdings PLC (AIM:MMH)) is being taken over by Constellation Automotive Group, which owns Cinch and webuyanycar.com. The board of Marshall has recommended an offer from Constellation of 400p in cash per share.
Frontier IP Group portfolio company The Vaccine Group said its COVID-19 vaccine showed a strong T-cell response in early trials. Handily, the vaccine also demonstrated potential for broad immunity against current and future variants.
Franchise Brands is buying the maker of the franchise management software it currently uses for a ‘net’ £825,000 – a deal that is expected to be earnings enhancing in the first full year. It has worked with Azura Group since 2018, and Franchise Brands said the purchase “consolidates and secures” its technology development.
ImmuPharma has inked a two-year collaboration agreement with Imperial College London. Under the terms of the tie-up, Imperial’s scientists “will provide significant intellectual input and guidance” on a number of peptide assets developed by the company’s Bordeaux-based subsidiary, ImmuPharma Biotech.