The London Stock Exchange (LSE) has confirmed it is in advanced merger talks with TMX of Canada in a move that would create the largest market in the world by number of listings. By combining businesses the enlarged entity would also be the number one market for natural resources, mining, energy and clean technology. Moreover the combined group will be the leading destination for growth companies from emerging markets that are seeking a listing.
The merger would create a £6 billion business offering access to a deep pool of international capital. Significant cost savings of £35 million by year three rising to £100 million in year five also provide a compelling attraction for the move. Shares in the LSE are up 8 per cent this morning to 965p as investors warm to the deal and the expectation that it will be earnings enhancing in the first full year following completion.
Combining forces makes commercial logic while also bringing 20 trading markets and platforms across North America and Europe. This will span cash equities, derivatives and fixed income. The move also brings together a substantial degree of technology expertise as well as a huge provider of global information.
The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1000+ AIM-quoted companies. The full report is available to order for £385 + VAT. Click here for more info
Latest small-cap and growth company news
Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.
It’s hard work building a consumer brand, but Science in Sport is giving it a good go. The company has developed a range of sports nutrition products which have credibility from elite athlete users who won 34 medals at Rio.
Styles & Wood shares have doubled in value over the last six months as the strategy to diversify the customer base and focus on profits rather than revenue growth has gained momentum. A good set of interim results has just been followed by an earnings-enhancing acquisition.
Crawshaw Group shares have come crashing back to earth following a profit warning. When a highly rated growth stock hits an air pocket you run the risk of a big correction and the shares have fallen 40 per cent today.
Hostel operator Safestay has released a slightly disappointing set of interim figures. Rather than becoming profitable this year there is now likely to be a small loss and the market has consequently cut back profit forecasts for the following years.
EKF Diagnostics interim results showed the benefit of refocusing on its core point-of-care (POC) diagnostics tests. Revenues were up 18 per cent, which was a welcome result after the disastrous foray into molecular diagnostics.