Billionaire's Secret Bid Rejected
Billionaire Daniel Kretinsky is contemplating a new takeover bid for the owner of Royal Mail after his initial offer was turned down. Kretinsky, who currently holds 27.5% of the postal firm's parent company, made a cash bid on April 9 which was not accepted.
Investment Firm Evaluates Options
Kretinsky's investment firm, EP Group, stated that they are reviewing all options and are looking forward to engaging constructively with the board. Any ownership exceeding 30% would trigger a formal takeover bid.
Market Reaction
Following the news, shares in the parent company of Royal Mail closed higher today, up by 28.85%.
Analyst's View
Analysts believe that this might not be the end of Kretinsky's interest and he has until May 15 to come up with a new bid.
Spending Spree
Kretinsky, known for his fortune from energy investments, has previously invested in other UK entities like West Ham football club and Sainsbury's.
Just Eat Reports Rise in Sales Despite Cost-of-Living Crisis
Popular food delivery service Just Eat saw an 11% increase in sales in the UK and Ireland, with orders rising compared to the previous year. The company's sales were boosted by partnerships with grocers.
Entain Records Slide in Sales Amid New Regulations
Gambling company Entain, owner of Ladbrokes and Coral, experienced a 7% drop in UK revenue for the first quarter. However, their US business BetMGM saw a 6% increase in revenues.
Elon Musk Pursues $56 Billion Pay Package at Tesla
Tesla's CEO, Elon Musk, is making another attempt to secure a significant pay package at the electric car company, after a previous attempt was blocked by a US court earlier this year.
ASOS Imports Clothes by Plane due to Shipping Disruptions
Online fashion retailer ASOS has started flying in stock from Asia to avoid delays caused by disruptions in the Red Sea. The company reported widened losses and a decrease in sales amidst the challenges.
Metro Bank Scraps Bonuses for Bosses
Metro Bank announced that it will not be paying bonuses to its executives this year, following a tumultuous period that included job cuts and a significant rescue deal.
Did you miss our previous article…
https://hellofaread.com/money/mcdonalds-breakfast-menu-price-cut-sparks-excitement/
