FlyBe Group [LSE: FLYB]
Shares in the regional airline FlyBe soared higher a month ago on the back of talk that transport giant Stobart may make a bid for the company. However a statement published this morning notes that the two sides have failed to come to an agreement so the bid will not now proceed. The expectation would be that FlyBe’s shares will now give back some of the bid premium we saw priced in a few weeks ago.
Reckitt Benckiser Group [LSE: RB]
Another story of bid talk coming to an end today, this time from Reckitt Benckiser. The company owns many household brands ranging from Nurofen to Durex, and had been in talks to acquire part of Pfizer’s consumer healthcare business. The indication is that the terms offered by Pfizer weren’t going to create long term value for the business, and instead Reckitt will remain focused on the integration the recent acquired of baby formula maker Mead Johnson, along with reorganising into two business units, Health and Hygiene Home.
Ted Baker [LSE: TED]
Global lifestyle brand Ted Baker published full year results this morning, with earnings per share coming in just above consensus forecasts. The global ambitions of the business are helping deflect some of the impact of a sluggish UK consumer economy. Profit growth is outstripping revenue growth which again helps point towards a business that is keeping cost in check – strong growth in online sales adds further weight to this argument.