TeleCity Merger Decision Looms, Quintain Bid Revised Higher

Nigel Thomas
25 Sep, 2015
New York City

European antitrust regulators are expected to decide on the merger between two data center operators TeleCity and Equinix for

[R]4:00 PM Frankfurt – European antitrust regulators are expected to decide on the merger between two data center operators TeleCity and Equinix for €2.4 billion. Lone Star revised offer higher to acquire Quintain Estates for £745 million. Repsol sells its 10% stake in oil storage firm to Ardian.[/R]

In London trading, FTSE 100 index jumped 129.35 or 2.2% to 6,090.57 and in Frankfurt the DAX index advanced 248.68 or 2.6% to 9,675.78.

In Paris, CAC 40 index soared 161.87 or 3.7% to 4,482.51.

For the week, FTSE 100 index slid 0.2% and the DAX index declined 2.4% and the CAC 40 index slipped 1.2%.

CVS Group Plc soared 7.9% to 681.15 pence after the U.K.-based veterinary services provider reported revenues in the year ending in June jumped 17% from a year ago to £167.3 million.

Net profit in the year surged 41.7% from a year ago to £6.8 million compared to £4.8 million ad diluted earnings per share increased to 11.3 pence from 8 pence.

Electranet, the U.K.-based privately held secured network and communication infrastructure provider agreed to be acquired by Capita in cash for about £37 million on a cash-free, debt-free basis.

Haynes Publishing Group plc increased 1.4% to 109 pence after the U.K.-based consumer publishing services provider reported revenues in the year ending in May surged 11% from a year ago to £26.06 million.

Net in the year swung to a loss from a year ago to £8.05 million compared to profit of £1.12 million ad diluted loss per share swung to 53.3 pence from diluted earnings per share 7.4 pence.

Quintain Estates and Development Plc surged 7% to 140.75 pence after the U.S.-based private equity firm Lone Star revised offer higher by 10% to 141 pence per share for the U.K.-based property developer or about £745 million or $1.13 billion.

Repsol SA gained 1% to €10.16 after the Spain-based energy company agreed to sell its 10% stake in Compañía Logística de Hidrocarburos SA, an oil storage firm to France-based investment company Ardian SA for about €325 million or $364 million.

TeleCity Group Plc rose 0.3% to 1,108 pence after the European Commission is expected to make its decision on the company’s plan to merge with the U.S. rival Equinix Inc for €2.4 billion or $3.7 billion by next week.