Among stocks, Vecture jumped 2.8% after tobacco company Philip Morris raised its bid for the drugmaker to 165 pence per share. British food delivery specialist Deliveroo soared 3.5% after its German peer Delivery Hero purchased a 5.09% stake in the company.
Meanwhile, the stakes are getting higher in the bidding war for supermarket chain Wm Morrison. After Friday’s £10 billion offer from US private equity group Fortress, the U.K. Takeover Panel said today that it has extended the deadline for Clayton Dubilier & Rice LLC to make a counteroffer.
Things to read:
Markets Are Running Hot on an Economic Enigma Machine (Bloomberg)
U.K. Led the World in Slashing Carbon Emissions. Now Comes the Hard Part. (WSJ)