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FTSE 250 movers: PPHE, Unite slump
(Sharecast News) - FTSE 250 (MCX) 23,156.66 -0.75%
PPHE Hotel Group slumped as it said Fattal Hotel Group's 2,200p-a-share offer would no longer go ahead due to opposition from one of its major shareholders. However, it also said it had received a separate early‑stage approach from another party which was now being assessed.
PPHE Hotel entered an offer period in November 2025 after founder shareholders Eli Papouchado and Boris Ivesha began exploring options, including growth capital or a partial sale of their stakes. The board then launched a strategic review and began a formal sale process under a Takeover Panel dispensation.
Fattal submitted an indicative cash proposal in May, which the board judged to represent fair value. However, an independent committee was formed and consulted shareholders representing around 83% of the register, with Euro Plaza, which owns a roughly 33% stake in PPHE, telling the committee it opposed the deal.
Fattal has since said it will not proceed without Euro Plaza's support. As a result, the committee said the proposal was not deliverable in its current form.
PPHE added that it received a separate early‑stage approach from another party on 31 May, which was now being assessed.
The FTSE 250-listed firm said the strategic review has been thorough and will be concluded as soon as possible, while noting there was no certainty any offer will emerge.
Unite Group fell after shareholder CPPIB European Student RE Holdings placed 36.2m shares in the company at a discount to Thursday's closing share price.
According to Bloomberg, the shares are being offered via JP Morgan Cazenove in an accelerated bookbuild at a price of 505p to 515p - a discount to Thursday's closing share price of 532.50p.
FTSE 250 - Risers
Ceres Power Holdings (CWR) 635.50p 10.57% Renishaw (RSW) 5,230.00p 3.36% Ithaca Energy (ITH) 229.30p 2.92% XPS Pensions Group (XPS) 318.50p 2.74% Oxford Nanopore Technologies (ONT) 116.60p 2.09% Harbour Energy (HBR) 237.00p 2.07% Chemring Group (CHG) 495.80p 1.93% Bytes Technology Group (BYIT) 357.00p 1.71% Energean (ENOG) 694.50p 1.61% Diversified Energy Company (DI) (DEC) 983.00p 1.44%
FTSE 250 - Fallers
PPHE Hotel Group Ltd (PPH) 1,690.00p -15.50% Pan African Resources (PAF) 104.50p -7.52% Hochschild Mining (HOC) 540.50p -5.41% Unite Group (UTG) 508.00p -4.41% Ibstock (IBST) 92.10p -3.56% Endeavour Mining (EDV) 4,034.00p -3.54% Vistry Group (VTY) 244.00p -3.02% Shawbrook Group (SHAW) 310.50p -2.97% Pagegroup (PAGE) 113.90p -2.88% Frasers Group (FRAS) 706.50p -2.82%
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