Xchanging calls on shareholders to back CSC offer
11th Jan 2016 09:00
(ShareCast News) - Xchanging called on its shareholders to accept an offer from Computer Sciences Corporation, as it pointed out that a superior offer from Ebix Inc was unlikely to materialise. Xchanging announced back in November that it had received an offer of 175p per share in cash from Ebix, bu
Read moreXchanging surges as it agrees to Computer Sciences offer
9th Dec 2015 08:42
(ShareCast News) - Xchanging shares surged on Wednesday after the business outsourcer said its board intends to unanimously recommend the cash offer from technology consulting company Computer Sciences Corp and withdraw its recommendation of the offer from London-listed peer Capita. The CSC offer pr
Read moreCapita on track to win race for Xchanging as Apollo bows out
4th Nov 2015 10:18
(ShareCast News) - Outsourcing group Capita appears set to win the race for Xchanging as Apollo Investment Fund has dropped out. "Apollo Investment Fund VIII, L.P. has notified Xchanging that it is no longer interested in potentially making an offer." On 14 October, outsourcing group Capita said th
Read moreLondon pre-open: Stocks seen lower; wage growth figures eyed
14th Oct 2015 07:42
(ShareCast News) - London stocks are expected to open lower on Wednesday as worries about global growth weigh on investors' minds and following weak Chinese inflation data. The FTSE 100 index is seen opening down 47 points at 6295. On the data front, UK claimant count and average weekly earnings a
Read moreXchanging recommends 160p per share offer from Capita
14th Oct 2015 07:03
(ShareCast News) - Outsourcing group Capita said the board of peer Xchanging has recommended its 160p per share offer, which values the company at around £412m, although Xchanging is still in discussions with Apollo Global Management. The deal, which is expected to be immediately earnings-accretive
Read moreLondon pre-open: FTSE seen sharply higher after strong reversal on Wall Street
5th Oct 2015 07:42
(ShareCast News) - UK stocks are expected to open with strong gains on Monday, taking their cue from an impressive reversal on Wall Street on Friday. The FTSE 100 is being called up 115 points at 6245. On the data front, UK services PMI is due at 0930 BST, while in the US, ISM non-manufacturing is
Read moreXchanging rockets on buyout offers from Capita and Apollo Global Management
5th Oct 2015 07:24
(ShareCast News) - Shares in business outsourcer Xchanging rocketed after the company confirmed it has received approaches from peer Capita and private equity group Apollo Global Management regarding offers for the company. Capita said it has been in discussions with the board of Xchanging since ear
Read moreSunday newspaper round-up: Global recession, Glencore, Prudential
4th Oct 2015 19:29
(ShareCast News) - Emerging economies risk "leading the world economy into a slump", with lower growth and a rout in financial markets, according to the latest Brookings Institution-Financial Times tracking index. Released ahead of the annual meetings of the International Monetary Fund and World Ban
Read moreXchanging names new CEO
16th Sep 2015 08:28
(ShareCast News) - Craig Wilson has been appointed as the new chief executive (CEO) of Xchanging, the business technology and service provider said. Wilson, who joins the group from HP Enterprise Services, will replace Ken Lever, who announced his intention to step down on 29 July and will leave his
Read moreXchanging slumps after procurement impairment and CEO retirement
30th Jul 2015 12:02
(ShareCast News) - Outsourcing company Xchanging shares fell sharply on Thursday as disappointing interim results were followed by the retirement of chief executive Ken Lever and a proposed restructuring of the procurement division. Despite a solid performance from the core business process services
Read moreXchanging expects H1 losses to widen
16th Apr 2015 13:59
Business process services group Xchanging saw its shares go down on Thursday after warning that its procurement division will post a greater first-half loss than in 2014. The procurement business was hurt by an exit from its legacy contracts after a reduction of costs. However, Xchanging said that e
Read moreXchanging to spend $11.5m on analytics company Spikes Cavell
6th Feb 2015 16:24
Xchanging is to buy analytics company Spikes Cavell Analytic Limited (SCAL) for up to $11.5m, as the London-listed business services group looks to "differentiate its products and services through technology-enablement". SCAL is a British company that provides spend analytics technology and services
Read moreLondon Capital Group chairman buys 1.2% stake
27th Nov 2014 12:42
Charles-Henri Sabet, the executive chairman of London Capital Group (LCG), has shown his faith in the spread betting and CFDs company just two months after taking the role. Sabet, who took over from former boss Kevin Ashby in September and has since put in place a new management team, purchased 650,
Read moreFriday broker round-up UPDATE
4th Jul 2014 12:12
Antofagasta: Morgan Stanley upgrades from underweight to equal-weight with a target price of 750p. AVEVA: Societe Generale initiates with a target price of 2650p and a buy recommendation. Balfour Beatty: Westhouse Securities cuts target price from 220p to 183p downgrading from neutral to sell. RBC
Read moreXchanging adds to binder offering with insurance software acquisition
3rd Jul 2014 15:02
Business process outsourcer Xchanging has agreed to acquire insurance software business Total Objects for up to £21m cash as it looks to strengthen its insurance binder offering. Total Objects provides the Lloyds of London and global markets with re-insurance software that fully automates the insu
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