SMDS.L - DS Smith Plc

Deals of the day-Mergers and acquisitions

** Eddie Stobart Logistics Plc said on DBAY Advisors Limited, its third-largest shareholder, has been granted more time to make a firm takeover offer for the haulage company, and that their talks are ongoing. ** Packaging firm Liqui-Box Corp agreed to sell its bag-in-box business to Peak Packaging to comply with requirements from Britain's competition watchdog over the U.S.-based company's takeover of DS Smith's plastics business. ** South Africa's Impala Platinum Holdings Ltd (Implats) said it would buy Canada-based North American Palladium Ltd for about C$1 billion ($751.77 million), marking the miner's first purchase outside of Africa.

Liqui-Box sells bag-in-box business to get green light for DS Smith deal

Britain's Competition and Markets Authority (CMA) was investigating whether Liqui-Box's $585 million takeover of the DS Smith business would reduce competition. "We're happy to have clearance now in the U.K. and move one step closer to completing the acquisition of the DS Smith Plastics Division," Liqui-Box CEO Ken Swanson said. Liqui-Box, owned by private equity firm Olympus Partners, said it would sell its bag-in-box (BiB) business which caters to customers in Britain.

UPDATE 2-FTSE 100 hits 8-month low as global slowdown fears take hold

Britain's FTSE 100 index touched an eight month low on Thursday after sluggish U.S. services data cemented fears of a global slowdown triggered by a string of weak manufacturing data, while the UK appeared to have tipped into a recession. UK stocks lagged their European peers and Wall Street, with the main index, which suffered its worst one-day drop since before the 2016 Brexit referendum on Wednesday, ending 0.6% lower.

UPDATE 2-UK stocks fall as concerns over Brexit, global growth weigh

London-listed stocks most exposed to the British economy fell as investors worried the country was heading for a chaotic no-deal exit from the European Union or an early national election, while global growth concerns also persisted. It is relatively rare for the export-heavy FTSE 100 to move in lockstep with sterling, but losses in companies more exposed to the domestic economy, such as banks and housebuilders, offset gains in big internationally focused firms. The index was down 0.2% after climbing initially on sterling's fall to a three-year low, underscoring deepening concerns about the fall-out across the economy from a no-deal Brexit and the possibility of another election.

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UPDATE 2-Banks support FTSE 100 even as airlines hit by Lufthansa warning

London's main index inched up on Monday as rises in banking shares outweighed the impact of a profit alert from Germany's Lufthansa on airlines, while UK contractor Kier Group skidded to an all-time low. Both the FTSE 100 index and the FTSE 250 midcap index ended 0.2% higher.