For those that missed them, here's a recap of this week's top FTSE 350 company stories:
Friday
Henderson Group (LON:HGG) and SunTrust have announced that discussions regarding a potential acquisition by Henderson of RidgeWorth Capital Management, the US asset manager owned by SunTrust, have been discontinued as the parties have not reached agreement on terms.
Banco Santander announced that its affiliate Santander UK has submitted an offer in the tender process of approximately 300 branches of Royal Bank Of Scotland Group Plc (LON:RBS) that is taking place. Currently, it is not possible to say when the tender process will conclude.
BP Plc(LON:BP)has agreed to establish a $20b claims fund over the next three and a half years to meet its obligations as a responsible party arising from the Deepwater Horizon spill. As a consequence of this agreement, the BP Board has reviewed its dividend policy. It has been decided that it would be prudent to cancel the previously declared first quarter dividend and that no interim dividend will be declared in respect of the second and third quarters of 2010.
Thursday
WS Atkins (LON:ATK) announced final results for the year ended 31st March 2010 in which it reported a 6.7% reduction in revenue to £1,387.9m. Operating profit was up 9.6% however to £113m as a result of the operating margin improving 1.2% to 8.1%. The total dividend for the year has been increased 5.8% 27.5p.
Land Securities Group Plc (LON:LAND) has agreed to forward sell its proposed 310,000 sq ft retail, office and residential development at Park House, Oxford Street, to Barwa Estate Q.S.C.Barwa will pay £250m for the site, all of the construction costs and a profit share on completion.
Game Group Plc (LON:GMG) said that total Group sales for the first 19 weeks to 12th June 2010 were down by 11.4% and like-for-like sales in the same period were down by 12.3%. The Board expects full year gross margins to decrease by around 100 basis points year-on-year.
Wednesday
Filtrona (LON:FLTR) said that trading since the first quarter has continued to be ahead of expectations. As a result it is now anticipated that the Company’s performance for the half year ending 30th June 2010 will be materially ahead of the Board’s previous expectations.
