Joules, PayPoint, Flutter Entertainment – Morning Roundup

It’s a red start to the week for the FTSE 100, which is down around 0.37% at the time of writing. Here are the top stories this morning…

Joules (LON: JOUL)

  • Joules Group released a trading update stating it is in advanced discussions with several strategic investors, including its founder Tom Joule.
  • The talks are regarding a cornerstone investment in an equity raise for the company.
  • The company said it also remains in discussions with its lender concerning a waiver of certain financial covenants in its existing facilities and on its medium-term financing.
  • In addition, Joules said trading for the 11 weeks to October 30 has been behind expectations.

PayPoint (PAY)

  • PayPoint announced it has agreed on a deal to acquire Appreciate Group.
  • The deal values each Appreciate Group Share at 44p and is valued at approximately £83 million in total.
  • Appreciate Group shares have jumped over 56% on the news.

Flutter Entertainment (FLTR)

  • An arbitrator has found in favour of Flutter in its long-running dispute over Fox Corporation’s plans to take a stake in FanDuel.
  • A US ruling has valued FanDuel at $20 billion.
  • As of today, this equates to a valuation for FanDuel of $22bn and a cost of $4.1bn for FOX to acquire an 18.6% stake.

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