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The Restaurant Group (TRG) led the market fallers this morning after chief executive Andy McCue surprised the City by announcing plans to resign "due to extenuating personal circumstances". TRG's share price plunged almost 15 per cent in morning trading following a statement today from McCue, who is set to remain in his position until a new boss is [...]
Frankie & Benny’s owner The Restaurant Group (TRG) posted a dip in like-for-like sales during 2018, but said that it has been seeing positive growth since the World Cup as its pubs continued to outperform the sector. The group also remained upbeat on its recent £500m acquisition of Wagamama, saying that the noodle chain "continued to trade well over [...]
Royal Mail will need a miracle to avoid relegation from the FTSE 100 Index tomorrow, as insurer Hiscox looks ready to step into its place as a blue chip firm. The winners and losers of the last FTSE reshuffle of the year are to be announced tomorrow afternoon, with Thomas Cook, Kier Group and the [...]
Package holiday provider Thomas Cook's share price has continued to fall for a second day, after having more than £175m wiped off its market value yesterday. The firm announced its third profit warning in five months, blaming the UK's long summer heatwave for a decline in Brits heading abroad. Shares in the FTSE 250 company declined by [...]
Restaurant Group shareholders approved the planned the £559m takeover of Wagamama today, but 40 per cent of shareholder votes opposed the deal. The vote sent the Restaurant Group's share price down by almost 10 per cent. The Frankie and Benny's owner had been set for a shareholder showdown after a number of investors voiced their intentions to vote [...]
An influential shareholder group has recommended investors oppose the Restaurant Group’s £600m takeover of Asian fusion chain Wagamama on the eve of the vote. Pensions and Investment Research Consultants (Pirc) said the “risks and adverse implications for shareholders appear too great to overlook”. The proxy advisor's recommendation comes as investors prepare to cast their votes [...]
A shareholder showdown looms over The Restaurant Group’s £559m planned takeover of Wagamama this week, with a number of major investors gearing up to oppose the deal. The Frankie and Benny’s owner could suffer a shareholder rebellion on Wednesday after several top investors signalled their intentions to vote against the proposed acquisition. Columbia Threadneedle Investments – [...]
Schroders, a top 10 shareholder in the Restaurant Group, has come out in support of the Frankie and Bennies owner’s acquisition of Wagamama. It comes as several major investors announced they would oppose the deal at a meeting next week, saying the £600m price tag is too steep. Schroders fund manager Andy Brough said: “The [...]
A second major investor will oppose the Restaurant Group’s (TRG) £600m acquisition of Wagamama on the grounds of price. The investor – which declined to be named – told City A.M. that the multi-million pound price tag is too expensive. It comes after top 10 shareholder Columbia Threadneedle, which owns 7.7 per cent of TRG, [...]
Nervous investors have raised concerns over the price of the Restaurant Group’s (TRG) proposed £600m acquisition of Wagamama as a major shareholder announced its intention to vote against the deal. Columbia Threadneedle, which owns 7.7 per cent of TRG, will oppose the proposal at a shareholder vote next week, it announced today. Frankie and Benny’s owner [...]
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