Daily Stock Market Report (Mon 23 June 2025) - SXS, AGR/PHP, AVON, ITM
Good morning and welcome to today's report.
The agenda is complete.
Companies Reporting
Name (Mkt Cap)RNSSummaryOur view (Author)Londonmetric Property (LON:LMP) (£4.2bn)Takeover of Urban Logistics REIT becomes effectiveSHED shares will be cancelled from 8am tomorrow (24/6).PINKTritax Big Box REIT (LON:BBOX) (£3.7bn)Refinancing supports delivery of strategic objectivesNew £400m 5-year RCF replaces £300m facility. Options to extend. Also refinanced £150m loan.Spectris (LON:SXS) (£3.3bn)Recommended cash acquisitionSpectris has recommended an offer from private equity group Advent for 3,763p per share.
Advent offer: 3,735p in cash plus 28p interim dividend.
Shareholders will also be able to receive this year’s final dividend if the timetable allows.PINK (Roland) [no section below]The Spectris board has recommended this offer from Advent, but rival private equity group KKR also remains in the bidding and has until 11 July 2025 to make a firm offer. KKR has issued a statement today confirming that it is “in the advanced stages of due diligence and arranging financing commitments”. Unfortunately (in my view), it looks like this high-quality British engineering group will be leaving the FTSE 250 one way or another. However, there’s still a real...