FTSE 250 movers: Detica soars after BAE agrees price
Date: Monday 28 Jul 2008
LONDON (ShareCast) - Business and technology consultant Detica is way ahead of the rest after defence giant BAE Systems agreed to acquire it for about £531m.
The offer will be 440p per share in cash and represents a 57% premium to the closing price of 281p on 12 July 2008, the last business day prior to Detica's announcement that it had received an approach.
Ground engineering specialist Keller advances after reporting a 19% rise in pre-tax profits. The company said the US non-residential market remains resilient and enjoyed strong revenue growth in continental Europe, the Middle East and Asia.
Home maintenance specialist Homeserve moves higher after it said first quarter trading results are ahead of last year and in line with expectations.
“Our expectations for the full year remain unchanged,” said the group. “The business continues to perform well with clear visibility of our future earnings profile and a strong pipeline of future growth opportunities.”
Budget airline easyJet lost altitude after its rival Ryanair saw first quarter net profits decline 85% and warned that it could report a loss of €60m if oil prices stayed high and fares fell. The rebound in the oil price following heavy falls lately also doesn’t help.
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