UK Stock Market Today: FTSE 100 Closes Higher as NatWest Buyback Lifts Banks; Pinewood Tumbles

UK stock market today: FTSE 100 closes higher as NatWest buyback lifts banks; Pinewood tumbles

Britain’s FTSE 100 closed up 0.3% at 10,473.69 on Monday, led by NatWest’s 4.8% jump after it launched a £750 million buyback. Defence stocks gained as Prime Minister Keir Starmer called for faster defence spending. The FTSE 250 fell 0.2%, dragged by Pinewood Technologies’ 33% plunge after Apax Partners withdrew. SkinBioTherapeutics tumbled 45% after warning of a major earnings hit. The post UK stock market today: FTSE 100 closes higher as NatWe…

Pinewood share price nosedives as £575m takeover falls through

Shares in Pinewood Technologies Group PLC have dropped 33% today after a £575 million private equity takeover fell through on Friday. US-based Apax Partners said it would not progress with a prospective offer of 500 pence per share for the Birmingham-headquartered tech provider to car dealerships. Apax blamed ‘prevailing challenging market conditions’ as software valuations fall around the world against a backdrop of advancing AI tools which mor…

No bid for DMS firm Pinewood.AI coming, says private equity firm Apax

Private equity firm Apax Partners has announced it will not make an offer for dealer software company Pinewood Technologies, which trades as Pinewood.AI, three weeks after news broke of the potential takeover talks.

Calm start to new trading week, financials prop up FTSE 100, Zurich given more time on Beazley bid and Apax walks away from Pinewood takeover

Apax walks away from Pinewood bid citing ‘challenging market conditions’

UK private equity firm Apax has pulled the plug on its bid for motor software and DMS provider Pinewood. It said in the light of the prevailing “challenging market conditions” it did not intend to make an offer for the company. “Apax, and any person acting in concert with Apax, reserves the right to announce an offer or possible offer for the Company or make or participate in an offer or possible offer for the Company and/or take any other actio…