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FTSE 250 movers: Big Yellow surges on possible Blackstone bid; Oxford Instruments tumbles
(Sharecast News) - London's FTSE 250 was up 0.9% at 21,996.29 in afternoon trade on Monday. Big Yellow Group surged after private equity firm Blackstone confirmed it is considering a possible offer for the self-storage company.
In a brief statement in response to recent press speculation, Blackstone said that one or more of the investment funds it advises is considering an offer.
"Blackstone Funds' evaluation of Big Yellow is at a preliminary stage and Blackstone is considering, amongst other factors, the macro-economic environment including the potential impact of the upcoming UK budget as it relates to the self-storage sector," it said.
In a separate statement, Big Yellow confirmed that it has held meetings with a small number of parties in relation to a range of potential options including a potential sale.
"The company is not in receipt of an approach and is not in discussions with any parties in respect of a potential sale of the company at the time of this announcement," it said.
IP Group was also sharply higher after saying it was "encouraged" by the results of a recent clinical trial of a Metsara obesity drug, which could result in future sustainable royalties if approved by regulators.
The company, which invests in early stage businesses in the deeptech, life sciences and cleantech sectors, owns and exclusively licenses certain underlying IP relating to Metsera's programmes including its lead product MET-097i, a monthly injectable GLP-1 drug.
Gold miners Endeavour and Hochschild shone as gold prices rose.
Oxford Instruments tumbled after it confirmed a fall in first-half revenues, saying it had been hit hard by US tariffs.
FTSE 250 - Risers
Big Yellow Group (BYG) 1,140.00p 18.13% IP Group (IPO) 59.90p 12.81% Endeavour Mining (EDV) 3,440.00p 11.40% Safestore Holdings (SAFE) 716.50p 9.47% Hochschild Mining (HOC) 388.80p 7.28% Aston Martin Lagonda Global Holdings (AML) 63.65p 6.71% Great Portland Estates (GPE) 329.50p 4.60% Vistry Group (VTY) 626.60p 3.67% Fidelity China Special Situations (FCSS) 326.00p 3.66% Future (FUTR) 649.00p 3.34%
FTSE 250 - Fallers
Oxford Instruments (OXIG) 1,824.00p -7.88% Oxford Nanopore Technologies (ONT) 143.00p -2.46% QinetiQ Group (QQ.) 491.00p -1.76% Edinburgh Worldwide Inv Trust (EWI) 203.00p -1.46% Helios Towers (HTWS) 145.60p -1.36% Edinburgh Inv Trust (EDIN) 808.00p -1.34% Baillie Gifford US Growth Trust (USA) 263.50p -1.31% Ithaca Energy (ITH) 187.70p -1.21% Worldwide Healthcare Trust (WWH) 342.00p -1.16% JPMorgan Global Growth & Income (JGGI) 561.00p -1.06%
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