Proactive Investors -
- FTSE 100 up 30 points to 8,109
- Anglo American (JO:AGLJ) snubs BHP bid
- Darktrace (LON:DARK) to be bought by Thoma Bravo
Darktrace takes swing at LSE
Darktrace has taken a hit at the London Stock Exchange following its plans to be taken private, adding more pressure regarding the exodus currently occurring in the market.
In a statement, the cybersecurity firm said: "The Board believes that Darktrace’s operating and financial achievements have not been reflected commensurately in its valuation with shares trading at a significant discount to its global peer group."
Neil Wilson at Markets.com added: "Something has come loose in the UK market, like a hose pipe that was blocked up suddenly gushing forth.
He added that City stock picker Nick Train had claimed a "transformative deal could unleash pent-up demand for UK stocks" and hoped that BHP's move on Anglo America could be such a deal.
London Underground suffers last-minute strikes
Londoners have been caught out by a last-minute set of underground tube strikes set to take place today and tomorrow.
Earlier this week, the TSSA rail union said its members who work as customer service managers would be walking out today.
TfL predicted the strikes could lead to some stations having "to close at short notice" and could cause disruption on Saturday morning also.
TSSA members are planning to avoid working any shift which starts of Friday between 12.01am and 11.59pm, meaning staff will not attend any overnight shifts.
Darktrace rallies on takeover by Thoma Bravo
Darktrace, the FTSE 250 cybersecurity firm, saw its shares jump close to 20% after it was revealed it had approved a purchase offer from private equity firm Thoma Bravo.
Shares at the company are now hovering around 617p, with Thoma Bravo having offered to buy the company for 620p per share, or £4.25 billion.
This represents around a 44% premium to the group's share price average over the last three months.
Another one gone...*THOMA BRAVO AGREES TO BUY DARKTRACE FOR $7.75/SHARE IN CASH
— Baron Investments (@baroninvestment) April 26, 2024
Thoma Bravo walked away from takeover discussions with Darktrace back in September 2022, but continued to pursue Darktrace as a means to " increase its exposure to the large and growing cybersecurity market."