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’Snap news
Breaking pre-market news on Monday,
- Royal Bank of Scotland says it is close to deal on APS, sees some unplanned EC-forced divestments – statement.
- Dragon Oil says Emirates National Oil Company to buy remaining stake in company for 455p a share – statement.
Snap news
Breaking pre-market news on Friday,
- Vedanta Resources announces revised $2.565bn cash offer for operating assets of Asarco – statement.
- Tesco and Fortis conclude discussions to form a new motor and household insurance partnership – statement.
Snap news
Breaking pre-market news on Tuesday,
- Cattles says it will need to restate the group’s financial statements for 2006-2007, is in breach of covenants – statement
- HSBC HK selloff caused by “technical factors”;
HBOS scraps Quintain plan
Shares in Quintain tumbled 10 per cent after HBOS said it had no current plans to bid for the developer. The stock closed down 87p at 817p, valuing the company at £1.06bn, after the surprise statement by Quill Securities,
Strategy change hits HBOS retail arm
HBOS’s disastrous change in its mortgage pricing strategy earlier in the year, which was reversed in May, was behind a fall in the bank’s retail profits in the 2007 first half. However, an 8 per cent drop in underlying pre-tax profits in the retail division was more than offset by profit growth elsewhere,
Quill in early takeover talks for Quintain
Quill Securities, the property investment unit of HBOS, confirmed it is considering a possible takeover bid for Quintain Estates & Development after becoming the property investment company’s leading shareholder.
HBOS ponders £1.2bn bid for Quintain
HBOS, the banking group, is considering a £1.2bn bid for Quintain Estates and Development, the owner of Wembley Arena, reports The Times. The corporate banking unit of HBOS bought an 11.9 per cent stake in the property company last week from Paul Kemsley,