Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some of the stocks sit
Speaker 3: on the move today here in Europe. I'm Caroline Hepkar
Speaker 3: with Lizzie Burden. How We joined by Big Beggs Breaking
Speaker 3: news editor Louise Moon. Let's start with the Whitbred seeing gains.
Speaker 3: Why that move for the hotelier.
Speaker 1: So this is after an actress investor, Carvex Management, which
Speaker 1: is one of their shareholders, has called for a sale
Speaker 1: of Whitbreads, as you say, the hotels so that they
Speaker 1: own the likes of premit In and a host of
Speaker 1: other hotels as well. So Carvex Management has sent a
Speaker 1: letter to the board urging it essentially to reconsider its
Speaker 1: capital plan that they've been laying out recently and hire
Speaker 1: advisors to explore all options essentially but really pushing for
Speaker 1: a sale. They say that whitbread is trading at what
Speaker 1: they call unaccepted will discount to its value and it
Speaker 1: really needs to pursue meaningful strategic, strategic and structural reform.
Speaker 1: And they say that's become an unignorable thing that it
Speaker 1: needs to address. They say, if it doesn't do that,
Speaker 1: and it doesn't commit publicly to a formal selle, it
Speaker 1: will nominate directors to the board. As you say, shares
Speaker 1: quickly gained after this, So the context being that Whitbread
Speaker 1: at the end of April laid out a plan cutting spending,
Speaker 1: cutting a load of jobs, aiming to return about two
Speaker 1: billion to shareholders. Obviously, this is after kind of the
Speaker 1: wider headwinds that the hospitality industry is seeing, seep tax hikes,
Speaker 1: higher costs and more. And so that is, you know,
Speaker 1: addressing some of Corvex's concerns. They initially took a stake
Speaker 1: in January seeking a review, a strategic review, but essentially
Speaker 1: this morning saying that's not enough and now pushing for
Speaker 1: a sale the.
Speaker 3: Ease you've started untitled your London Rush newsletter this morning
Speaker 3: with Anglo's Aussie sale.
Speaker 1: Good day, right, So Loui's moon is it moving the
Speaker 1: dial for the share price? Well, interestingly, shares have actually fallen,
Speaker 1: So this is on the back of as you mentioned,
Speaker 1: this deal, they're selling their Australians still making coal mines
Speaker 1: to another British company but privately held minor called Dilmar,
Speaker 1: and that's for a total of up to three point
Speaker 1: eight nine billion dollars, so mostly cash and the rest
Speaker 1: is a price linked eurnout. As I say, shares fell
Speaker 1: not too much but a bit through the morning. Partly
Speaker 1: the price was kind of as expected, and there's also
Speaker 1: some talk around that earnings targets, that earn out targets
Speaker 1: being hard to hit, so potentially a bit of kind
Speaker 1: of concern surrounding the deal. There. The wider context with
Speaker 1: Anglo is that, of course it's been on a huge
Speaker 1: transformation since BHP try to buy in twenty twenty four.
Speaker 1: It's been totally transforming the business, so spinning off units
Speaker 1: including platinum. They're still trying to sell de Beers diamond units,
Speaker 1: struggling to find buyer for that. And then they're focusing
Speaker 1: on coal. So obviously they bought up tech resources of
Speaker 1: the Canadian company to focus on coal. And so this
Speaker 1: is you know, some some shift there by selling these
Speaker 1: these Ossie minds.
Speaker 3: Okay, so that Anglo American and then just lastly in
Speaker 3: the ad space, publicis.
Speaker 1: Yeah, so the advertising agency they have announced the deal
Speaker 1: to buy a US company called live Ramp. That's for
Speaker 1: about two point two billion dollars. So live Ramp is
Speaker 1: a data collaboration platform. So this is all Publices pushed
Speaker 1: towards AI. And then on the back of this deal
Speaker 1: they raise their twenty twenty seven and twenty twenty eight
Speaker 1: growth targets, so they're seeing this to really be a
Speaker 1: boost for them. Shared so far this year down but
Speaker 1: up on the news this morning, up about six percent,
Speaker 1: and so you know ALYSSA noting this is strategic benefits.
Speaker 1: We've seen the wide advertising space be hit by the
Speaker 1: rise of AI, so the likes of WPP, whereas this
Speaker 1: is them really pushing into AI and so therefore seeing
Speaker 1: a benefit on the back of that.
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