Pennon’s Bristol Water purchase could be acceptable says acquisitions watchdog
The merger was originally announced last June by the parties
Company
Pennon Group PLC
LON:PNN
Pennon is one of the largest environmental infrastructure groups in the UK. At the top end of the FTSE 250, the Group has assets of around £5.7 billion and a workforce of over 4,800 people.
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Pennon profits rise as non-household demand recovers
The utility said its South West Water arm cut pollution incidents by 50% in the period
Pennon sees record demand for water pushing revenues higher
More people have moved to the regions it serves during the COVID-19 pandemic
Questions for Tuesday: 'Congratulations' or 'Get Well Soon' for Moonpig? Will Pennon clean up its act?
Results are also due from AG Barr, Close Brothers, Ferguson and Smiths Group
Polluter in the portfolio: Water company investment presents ESG investor conundrum
Pollution events are “one of the factors considered in the assessment of their environmental performance”, said a spokesman for Impax Asset Management
Pennon's South West Water blasted for pollution failings for 10th year in a row
Water companies have a tendency to “reach for excuses rather than taking action to reduce serious pollution incidents to zero”, the report said
Pennon splashes the cash with Bristol Water buy and special dividend
Pennon raised £3.7bn when it sold its Viridor waste business in July
Pennon still seeking potential acquisitions as it sits on £3bn cash pile
If it doesn't find a suitable investment opportunity, the firm expects to make a "substantial" return of capital to shareholders
Pennon board says it is appropriate to pay dividend
In July, the water company sold off its waste arm Viridor for £3.7bn in cash
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FTSE 100 ends a hair lower as sterling strength outweighs vaccine hopes
"England will therefore move back into the regional, tiered approach because it is right to target the toughest measures only in areas where the virus is most prevalent"
Pennon customers opt for cash from Watershare+ payout
Susan Davy, Pennon’s chief executive, said: "We're very pleased with the positive response we've had to this trailblazing initiative"
Pennon reinstated at equal weight but United Utilities preferred among the water firms at Barclays
The bank also hiked price targets for United Utilities as well as peer Severn Trent in a reassessment of the sector
Pennon confirms £10mln full-year revenue coronavirus hit as initially expected
Expected cash and committed facilities are estimated to be “well in excess” of £3bn as of September 30, 2020
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FTSE 100 closes in positive territory but still below 6,000 as health fears put dampener on stocks
Britain’s blue-chip benchmark finished up nearly 20 points, or 0.34%, at 5,842
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Quiet Friday to see update flow from Pennon Group
The water utility group is likely to be watched closely for any changes to its dividend policy, while UK consumer confidence data and US durable goods orders will populate the macro calendar
Pennon presents more prudent dividend policy, keeps shtum on Viridor payout
The new dividend policy for the next five years reflects a more stringent regime set out by regulator Ofwat
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FTSE 100 closes in red as ECB fails to cheer and markets fear second coronavirus wave
Footsie closed the afternoon session down almost 41 points at 6,341 on Thursday
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Pennon Group investors hope for dividend clarity
Pennon and Intermediate Capital are among the biggest names in the corporate diary for Thursday.
Pennon upgraded to ‘neutral’ by Credit Suisse after £4.2bn Viridor sale
The bank's target price for the water firm was hiked to 1,035p from 700p as the deal was £1.7bn above its analysts' valuation
Pennon reassures on liquidity amid coronavirus crisis, promises new dividend policy
Revenues will be reduced in the next five year to reflect the new level capital allowance across the industry