A revised approach for FTSE 250 healthcare facilities owner Assura (AGR) by US buyout fund KKR (KKR:NYSE) and Stonepeak Partners brings UK M&A deal values so far this year to around £3.6 billion by our calculation.That is only around 25% of the value of deals announced in the first quarter of last year, although in fairness we haven't included Sidara's reported interest in energy services...

Private equity bid raised by 2.9%Board inclined to recommend offerRival all-share PHP deal rejectedIt could be fifth time lucky for US buyout fund KKR (KKR:NYSE) after it raised its bid for UK primary healthcare facilities owner Assura (AGR) from 48p to 49.4p including the upcoming dividend.The shares, which popped to 45p after it was revealed last month KKR had made four approaches to the...

Like every investor who turns on their computer in the morning to find one of their stocks has been bid for, my initial reaction to the news US buyout giant KKR (KKR:NYSE) had offered a premium for my shares in healthcare facilities provider Assura (AGR) was 'happy days'.The joy was momentary, however, as I then contemplated what it would mean for my portfolio if I no longer owned Assura and...

Buyout firm offers 48p per shareFourth attempt to reach a dealAnalyst calls premium 'fair'Investors in healthcare facilities provider Assura (AGR) will have received the news of an approach from buyout giant KKR (KKR:NYSE) with mixed feelings given the FTSE 250 firm is an income stalwart with an attractive yield.The shares immediately jumped 7p or 18% to 46p, just short of KKR's 48p per share...

The FTSE 100 opened in the green on Monday despite geopolitical concerns and tariff worries continuing to hang over equities.The FTSE 100 index rose 13.43 points, 0.2%, at 8,745.89. The FTSE 250 added 64.96 points, 0.3%, at 20,977.97, and the AIM All-Share rose 1.33 points, 0.2%, at 727.39.The Cboe UK 100 was up 0.3% at 877.63, the Cboe UK 250 also added 0.3% to 18,333.89, and the Cboe Small...

On 1 August the Bank of England's Monetary Policy Committee made a 5-4 decision to kickstart its rate-cutting cycle. A 25 basis point reduction in the base rate to 5% marking The Old Lady of Threadneedle Street's first cut since March 2020.This means cash savings rates are heading in one direction, down. And the lower-than-expected jump in UK inflation reported on 14 August only boosted market...

On 17 July, Sir Keir Starmer's new Labour government announced its plans for the first year of the new parliament, with growth and wealth creation the priority.King Charles' speech at the State Opening of Parliament included a total of 39 bills under a new legislative agenda which includes speeding up the delivery of 'high-quality infrastructure and housing' and nationalising railway...

For the second part of our annual survey, we asked fund managers if they had changed their view on any stocks this year, for better or for worse, and what lay behind their decisions.As with the winners and losers survey last week, the answers were often frank and once again we would like to thank everyone who took part.Thomas Moore - Aberdeen Equity Income Trust (AEI)THE STOCK THAT I CHANGED...

September was a bad month for stocks in general, but it was especially poor for UK REITs (real estate investment trusts), with 77% of the sector by market cap being derated according to analysts at Winterflood, leaving 24 out of 32 trusts down over nine months.With worries over the economy, discounts to NAV (net asset value) continuing to widen and retail investors exiting the sector in their...

British American Tobacco's new boss shows market that he backs his own leadershipComputacenter CEO cashes in on positive set of resultsAssura directors buy over £86,000 sharesBritish American Tobacco (BATS) CEO Tadeu Marroco has bought 10,000 shares at £25.74 for a total value of £257,386 on 6 June.The purchase comes as no surprise as the shares have fallen almost 22% year-to-date and...

The severe tightening in financial conditions in the second half of 2022 caused commercial property values to fall at the fastest six-month rate on record.As a result of much cheaper valuations, investors are asking themselves whether now is a good time to start taking positions in listed property companies and real estate investment trusts, also known as REITs.We look at where valuations are,...

Investors are increasingly looking for stocks, bonds or funds that pay a good income.Dividends or bond coupons provide positive returns which are particularly attractive in a more challenging market such as now.Many people have this year lost money from backing high-growth but dividend-less stocks such as Tesla (TSLA:NASDQ) and Netflix (NFLX:NASDAQ), and they're fed up.In the other side of the...

Recession concerns have been seeping into the investment narrative in recent weeks. The war in Ukraine has exacerbated supply shortages and added unexpected fuel to the inflationary fire.Inflation in basic non-discretionary goods crimps spending elsewhere and could put a big dent in the expected nascent global recovery.While recession isn't the base case for most economists, investors may do...

For now, the escalating conflict in Ukraine shows no signs of easing. After the initial shock, markets were hopeful the economic impact of the war might be contained as the West's opening salvo of sanctions in response to Russia's invasion (24 Feb) were weaker than some had anticipated.However, any relief soon dissipated as Ukraine put up stiff resistance against the Russian invaders and...

UK inflation is at a 10-year high. Rising prices have been on the agenda for months but in October the impact of the energy crisis really bit as the CPI measure of inflation hit 4.2%.This higher cost of living matters to all of us, not least because we now need a return of at least this level to avoid the so-called 'real' value of our savings being eroded.While interest rates are poised to go...

The mood on the markets was hardly celebratory as England lifted its lockdown restrictions on 19 July. Gloomy warnings from the UK Government, rising Covid-19 cases linked to the Delta variant and growing signs of inflationary pressures all helped to drive the FTSE 100 to a two-month low on the day.The fear now stalking the markets is one of stagflation. In simple terms, this means a...

Real estate investment trusts, or REITs for short, launched in the UK in 2007 and there are now more than 50 of these vehicles listed on the London Stock Exchange.In effect a REIT looks to replicate the experience of holding property directly for an investor.The average person can only afford to own their home, and some might also have a buy-to-let property as well. For most, the idea of...

Primary care property investor Assura (AGR) dipped 0.7% to 76.8p as it revealed rent collections were 'in-line with normal patterns' in the six months to 30 September 2020.'Some rents from pharmacy and ancillary services are being paid in monthly instalments along with some short term deferrals. Rental concessions totalling less than £0.1 million have been agreed,' the company said.The...

The care home sector has clearly suffered a devastating impact from coronavirus but the need for quality accommodation for older, vulnerable people has arguably never been greater.We think investors should buy Target Healthcare REIT (THRL) which is growing its portfolio of purpose-built assets and offers a highly attractive yield of 6.2%.While not quite as secure as the income on offer from...

The last six months have been extremely turbulent for the markets with significant divergence in performance across different regions, sectors and themes.The story has been one of topsy-turvy trading with an alarming cliff edge drop in March, as investors capitulated, and then a rapid recovery from these lows.In this article we take stock of the first half of 2020 in more detail and consider...