DNO Makes Direct Offer to DNO Shareholders, Logitech Ends Plantronics Talks

Sarla Buch
26 Nov, 2018
New York City

Aryzta surged on the improved outlook. Datagroup reported better-than-expected results. Faroe Petroleum surged on hostile bid from the Norway-based DNO. Logitech terminated acquisition talk with the U.S.-based Plantronics.

[R]4:00 PM Frankfurt – Aryzta surged on the improved outlook. Datagroup reported better-than-expected results. Faroe Petroleum surged on hostile bid from the Norway-based DNO. Logitech terminated acquisition talk with the U.S.-based Plantronics.[/R]

In London trading, FTSE 100 index increased 50.74 or 0.7% to 7,002.60 and in Frankfurt the DAX index jumped 138.44 or 1.2% to 11,331.13.

In Paris, CAC 40 index advanced 35.93 or 0.7% to 4,982.87.

Aryzta AG surged 8.8% to 1.32 Swiss francs after Switzerland-based specialty baking products maker said preliminary group revenues in the first-quarter ending in September declined 5.2% from a year ago to €862.3 million.

Aryzta said sales in the European market advanced 2% and international sales surged 7.7% while sales in the North America dropped 3%.

The bakery products maker forecasted fiscal 2019 operating profit to increase in mid-to-high single digit from a year ago period.

Datagroup SE soared 8% to €33.85 after Germany-based information technology provider said revenues in the year ending in September surged 21.9% from a year ago to €272.1 million.

Net income in the year jumped 14.9% to €12.9 million from €11.2 million in the same period a year ago and diluted earnings per share increased to €1.55 from €1.41.

Datagroup said gross profit in the year advanced 20.6% to €192.4 million from a year ago period.

The information technology service provider forecasted the company is on track to have more than 220 CORBOX contracts for fiscal 2020-2021.

Faroe Petroleum Plc surged 25.8% to 158.20 pence after the Norway-based DNO ASA offered to the U.K.-based North Sea-focused oil and gas explorer for 152 pence per share or about £607.9 million cash offer directly to investors.

DNO already controls 28.2% in Faroe Petroleum.

Separately today, Faroe said DNO did not engage with Faroe before making the announcement of its unilateral Offer.

Logitech International SA advanced 2.5% to 33.18 Swiss francs after Switzerland-based computer accessories maker today confirmed that it had terminated acquisition talk with the U.S.-based Bluetooth earpieces and gaming headsets maker Plantronics Inc.