Three key news stories unfolding as the UK stock market opens. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
1. Fresnillo makes play into Canada with acquisition
Fresnillo LON:FRES has announced this morning that they have agreed to by Canada’s Probe Gold in an all share deal worth US$560m. That reflects a 24% premium to the 30 day VWAP, but gives Fresnillo access into a high-quality Canadian mine. The move meets the company’s strict M&A criteria and complements the major geographic focus of Mexico.
2. Helium One provides update on Colorado project
Helium One LON:HE1 has updated the market on its Galactica development this morning. The co-owned project in Colorado broke ground on the production facility pad and gathering system yesterday, with the first gas on course to be collected in December. Production is set to reach full capacity in H1 2026.
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3. TT Electronics pushes back on shareholder attempt to derail sale process
There’s a follow up announcement from TT Electronics LON:TTG this morning following yesterday’s recommended bid for the company. A second suitor – and existing shareholder – DBAY has been making a number of unsolicited offers for the business, which management consider inferior.
That’s certainly the case in terms of headline price and there are lengthy due diligence processes to be undertaken. DBAY have said they will not vote in favour of management’s preferred route of achieving maximum shareholder value.
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