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 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.