Here is a summary of the most important regulatory news releases from the London Stock Exchange on Monday, 9th December. Please refresh for updates.
Tesco (LON:TSCO) confirmed that it has begun a strategic review of its businesses in Thailand and Malaysia, with an eye to potentially selling them.
The two-sentence release follows a report in the Sunday Times at the weekend that said Tesco’s remaining Asian businesses could fetch up to $9 billion, or nearly one-third of Tesco’s current market value.
Prosus (AS:PRX), the Internet holding company spun off by Naspers Ltd (JO:NPNJn) earlier in the year, has raised its cash offer for Just Eat (LON:JE) by 4.2% to 740 pence per share from 710p.
That’s a premium of 25.6% to the undisturbed share price on Oct. 21.
Prosus has had to respond because the value of Takeaway.com’s (AS:TKWY) rival, all-share bid has risen dramatically in recent days. It’s worth an implicit 723.7p per share as of Friday’s closing price.
Prosus also cut the minimum acceptances needed to make the deal unconditional to a simple majority.
Prosus argues that its cash offer “is the only one that delivers certainty in the face of undeniable industry change,” and has claimed repeatedly that Takeaway’s shares will eventually be hit by future investment needs.