Aggreko backs $3.2 billion buyout offer from private equity firms

My Two-House, Duffel-Bag Life

When my parents divorced, I lost the link that held our family together. And then I found it.

By Natalie Muñoz

How the anti-vax movement has infiltrated the high street

In England, white people are more than twice as likely to have been vaccinated as people from black backgrounds, and three times as likely as people from mixed ethnic backgrounds, according to the Royal College of GPs. But what is causing this?

Aggreko, Albion Reach Agreement On Terms Of Acquisition – Quick Facts

The boards of Aggreko plc and Albion Acquisitions Limited have reached agreement on the terms and conditions of a recommended all cash acquisition of the entire issued, and to be issued, ordinary share capital of Aggreko. The deal values Aggreko’s entire issued, and to be issued, ordinary share capital at approximately 2.322 billion pounds. Each scheme shareholder will be entitled to receive: for each scheme share: 880 pence in cash.

The Aggreko Directors intend to recommend unanimously that the shareholders vote in favour of the Scheme at the Court meeting and the resolutions to be proposed at the General Meeting. The acquisition is anticipated to become effective in the summer of 2021.

London Stock Exchange Group FY Adj. Operating Profit Rises; Revenue Up 3%

London Stock Exchange Group PLC (LSE.L) reported pretax profit of 685 million pounds
for the year ended 31 December 2020 compared to 651 million pounds, prior year. Earnings per share was 118.9 pence compared to 118.1 pence. Adjusted operating profit was up 5% to 1.12 billion pounds. Adjusted earnings per share was 207.3 pence compared to 198.0 pence.

Fiscal 2020 total revenue was up 3% to 2.12 billion pounds. Total income rose 6% (up 5% on a constant currency basis) to 2.44 billion pounds.

The Board proposed a final dividend of 51.7 pence per share, which together with the interim dividend of 23.3 pence per share paid to shareholders in September 2020, results in a 7% increase in the total dividend to 75.0 pence per share. The final dividend will be paid on 26 May 2021 to shareholders on the register as at 30 April 2021.

Nordex Group FY Preliminary EBITDA Down 24.1% – Quick Facts

Nordex Group (NRDXF.PK) reported that its preliminary earnings before interest, taxes, depreciation and amortization or EBITDA for the financial year 2020 was 94.0 million euros, down 24.1 percent year-on-year.

But annual consolidated sales increased by 41.6 percent to 4.6 billion euros from the previous year.

In financial year 2020, the company reported order intake in excess of 6.0 GW, thus matching nearly the previous year’s order volume of 6.2 GW despite the coronavirus pandemic.

The company said it will present its final audited figures for the 2020 financial year,
including its guidance for 2021, on 23 March 2021.

Disney workers used to make magic, now they struggle to make ends meet

New York (CNN Business)The Disney Store, once a mall mainstay, is drastically reducing the number of locations it has in the United States and Canada.

Disney said it’s closing at least 60 stores in North America, amounting to about 35% of its locations in the region. Moving forward, Disney is placing a larger emphasis on its e-commerce business rather than its brick-and-mortar footprint.
“While consumer behavior has shifted toward online shopping, the global pandemic has changed what consumers expect from a retailer,” said Stephanie Young, president of Disney’s consumer products, games and publishing unit, in a press release.

    Disney (DIS) said that it’s focusing on making its shopDisney platform a more “seamless” and “personalized” experience. That online revamp will be “complemented by greater integration with Disney Parks apps and social media platforms.”
    Covid-19 has spurred more people to move their shopping habits online. Research firm eMarketer recently said e-commerce sales across the world grew nearly 28% in 2020, surpassing $4 trillion.

      Fans can still buy Mickey merchandise at theme park stores, third-party retailers and Disney shop-in-shops. In 2019, Target opened mini-Disney stores in 25 of its locations.
      Disney, which didn’t release a list of stores that will close, has about 300 locations worldwide. It had nearly 800 locations globally at its peak in 1999.

      Spirent Acquires OctoScope

      Spirent Communications Plc (SPT.L,SPM) has acquired octoScope, Inc from the founder Fanny Mlinarsky, management and other investors, for an initial cash consideration of $55 million, with an additional consideration capped at $18 million. The gross assets of octoScope at 31 December 2019 were $11.6 million.

      OctoScope is a US-based technology company that provides accurate, repeatable and automated wireless test solutions and methodologies to the wireless industry. Its test solutions leverage patented technology to provide automated Wi-Fi and 5G testing in emulated real-world environments, including the latest Wi-Fi 6 and 6E technologies.

      Eric Updyke, CEO, said: “This acquisition supports our strategy of sustainable, profitable growth by establishing Spirent as the firm market leader in the expanding Wi-Fi space, adding to our 5G solution portfolio.”

      Aggreko backs $3.2 billion buyout offer from private equity firms

      (Reuters) – British equipment rental company Aggreko said on Friday it was recommending a 2.32 billion pounds ($3.22 billion) buyout offer from private equity firms TDR Capital LLP and I Squared Capital.

      The company said the offer of 880 pence per share represents a premium of about 39% to its share price on Feb. 4.

      ($1 = 0.7206 pounds)