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Date: Friday 22 Aug 2008
LONDON (ShareCast) - Benfield surges ahead after insurance giant Aon made an agreed £844m bid for the insurance broker.
The agreed price of 350p per Benfield share values Benfield's existing issued share capital at approximately £738m and the entire issued and to be issued share capital of Benfield at approximately £844m.
More modest gains come from student accommodation specialists Unite Group which says it plans to raise £178.6m through asset sales. The group is selling eleven operational direct let assets at a price 2.8% above the assets’ December 2007 valuations.
Rentokil Initial falls back after the rat-catcher and parcel delivery group said tough trading conditions are set to continue until at least the end of the year as it announced a 72% drop in interim profit.
Recruitment group Michael Page gives up some of the gains it posted after Swiss staffing group Adecco said it is considering a bid, prompting Michael Page’s chief executive Steve Ingham to say Adecco may have to pay 600p a share.
FTSE 250 - Risers
Benfield Group (BFD) 351.25p +29.61%
Taylor Wimpey (TW.) 46.50p +10.06%
Persimmon (PSN) 355.00p +8.56%
Heritage Oil (HOIL) 205.75p +8.29%
Unite Group (UTG) 227.00p +7.33%
Barratt Developments (BDEV) 136.50p +6.43%
Yell Group (YELL) 96.50p +6.34%
Moneysupermarket.com (MONY) 82.00p +6.15%
Aricom (ORE) 44.75p +5.92%
SSL International (SSL) 463.50p +5.82%
FTSE 250 - Fallers
Rentokil Initial (RTO) 69.50p -5.76%
Michael Page International (MPI) 360.50p -3.48%
Wellstream Holdings (WSM) 1,114.00p -2.96%
JKX Oil & Gas (JKX) 398.50p -2.86%
Dana Petroleum (DNX) 1,416.00p -2.81%
Mecom Group (MEC) 19.00p -2.56%
Hardy Oil & Gas (HDY) 436.00p -2.35%
Gem Diamonds (GEMD) 938.50p -1.88%
Hochschild Mining (HOC) 256.75p -1.82%
RPS Group (RPS) 286.50p -1.72%