Read the latest news from London-listed stocks this morning, including Aveva, JD Sports, and Sainsbury’s.

Aveva

• The boards of Schneider Electric and Bidco and the Aveva Independent Committee announced they have reached an agreement on the terms of a recommended cash acquisition.
• Schneider agreed to buy the remaining Aveva shares in a £9.4 billion deal or £31 per share acquisition.
• Aveva shares are up 2.3% on Wednesday.

Games Workshop

• Games Workshop announced its trading update for the three months to 28 August.
• Trading was in line with expectations with a core revenue of £106 million.
• The board also declared a dividend of 30p per share, taking dividends declared in 2022/23 to £1.20 per share.

JD Sports

• JD Sports announced on Wednesday its update on Directorate change.
• The company was pleased to announce it had reached an agreement with Peter Cowgill with respect to his departure from the business.
• The deal will see Cowgill return as a consultant.

Frontier Developments

• Frontier Developments reported its FY22 results.
• Revenue grew 26% to £114 million, however, operating profit fell from £19.9 million in FY21 to £1.5 million in FY22.
• Its EPS tumbled 56% to 24.6p.

Sainsbury’s

• Sainsbury’s is in talks to offload £500 million store portfolio, according to Sky News.
• The supermarket chain is reportedly in advance talks to offload a portfolio of prime retail sites to London-listed real estate investor LXi REIT.
• A number of other parties have expressed an interest, as supermarkets are under pressure from investors to improve the efficiency of their balance sheets.