NatWest Group PLC on Tuesday said its Chairman Howard Davies will be stepping down from the role before July 2024 and that a search for his successor will start in the coming months.
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Hyve Group Agrees to Final GBP363 Mln Takeover Offer by Providence Equity Partners
Hyve Group PLC said Tuesday that it has agreed to a 363 million pound ($453.2 million) final takeover offer from private equity firm Providence Equity Partners LLP.
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Guanajuato Silver Appoints Mario Valdez Co-COO, Hernan Dorado Smith CSO
Guanajuato Silver Co. said Wednesday that Mario Valdez has been promoted to co-chief operating officer and that Hernan Dorado Smith will take the position of chief strategy officer.
MARKET TALK:
Mattioli Woods' Acquisition of Doherty Looks Like a Good Fit
1336 GMT - Mattioli Woods' GBP15 million acquisition of Doherty Pension & Investment Consultancy seems a good fit and a good price, says Shore Capital in a note, adding the accretive purchase of the Northern Ireland company adds at least 3% to its earnings per share. The wealth and asset management business trades "with high returns, sticky clients, and a well-articulated plan to capture, where appropriate, more of a client's [total expense ratio] in future years," says analyst Ben Williams. He also flags Mattioli sees revenue synergies from the acquisition as Doherty's clients access its products and platforms as well as cost synergies from migrating the group's portfolio into its platforms. Shore has a buy rating on the stock. (elena.vardon@wsj.com)
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Redcentric's Revenue Growth Seen as Positive
1310 GMT - Redcentric's strong run rates and synergies in progress from acquisitions lead to forecast upgrades, says finnCap in a note after the IT managed-services provider posted strong fiscal 2023 revenues and annualized revenue figures for fiscal 2024. "Revenue growth as a category has always been less certain, and so delivery ahead of expectations is a significant positive which is at risk of being overlooked today, providing an additional long-term benefit with synergies eventually GBP5 million better than expected," says analyst Andrew Darley. The broker updates its forecasts taking into account cost reduction timings--part of the acquisition risk--which will settle as management has a strong delivery track record, he adds. Shares fall 3% at 113.5 pence. (elena.vardon@wsj.com)
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Victoria Seems Strongly Positioned As Outlook Improves
1242 GMT - Victoria PLC is in a strong position to prosper as market conditions improve, Peel Hunt says in a note after the U.K. maker of flooring products confirmed it sees its full-year revenue and Ebitda in line with market views. It also expects improved earnings and cash flow from the cost benefits of its Balta integration, which is on track to be completed by the end of the calendar year. Analysts Charles Hall and Andrew Ford see this outlook as a confident and encouraging. Peel Hunt rates the stock buy. Shares rise 5.2% at 499.5 pence. (elena.vardon@wsj.com)
Contact: London NewsPlus, Dow Jones Newswires;
(END) Dow Jones Newswires
04-25-23 1237ET
