Cranswick Share News (CWK)

LONDON (Alliance News) - bwin.party digital entertainment Friday confirmed it is in talks with numerous third parties about potentially being acquired.

In a statement, bwin said it has received revised proposals, including from GVC Holdings PLC, over a "variety of possible business combinations".

AIM-listed GVC Holdings, an Isle of Man-based sports betting and gaming company whose brands include Sportingbet, said it has submitted a proposal with a view to acquiring the FTSE 250 online gaming company.

"If the proposed transaction were to complete, it would be treated as a reverse takeover due to the size of bwin.party relative to the company and, in order for the proposed transaction to proceed, it would require, inter alia, the approval of GVC shareholders," GVC said.

Both companies said there can be no certainty of a deal going through. The statements were issued following press reports and market rumours about a bid for bwin.

bwin shares are up 6.5% at 95.25 pence on Friday, the top gainer in the FTSE 250, while GVC shares are down 1.3% at 452.55p.
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Markets: UK stocks are higher, with a focus on corporate news amid a dearth of significant economic data. US futures point to a higher opening, with the DJIA and the S&P 500 seen up 0.1% and the Nasdaq 100 pointed up 0.3%. The S&P set a new closing high Thursday of 2,121.10 points.

FTSE 100: up 0.2% at 6,990.05
FTSE 250: up 0.6% at 18,029.93
AIM ALL-SHARE: up 0.2% at 761.13
GBP: down at USD1.5714
EUR: down at USD1.1354
GOLD: down at USD1,214.55 an ounce
OIL (Brent): down at USD66.59 a barrel
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Other Top Corporate News
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UK media and communications regulator Ofcom said it has tabled proposals which would allow companies looking to provide high-speed telecommunication lines for businesses to be granted access to BT Group's fibre networks using their own equipment, and said it has tabled new service requirements for BT's Openreach arm. The service is often referred to as 'dark fibre', as the cables would not be 'lit' using BT's electronic equipment, but rather by using the competitors' own equipment installed at either end of the cable. The measures are part of the Business Connectivity Review undertaken by Ofcom, under which the regulator also will propose placing new, minimum quality of service requirements on BT's Openreach network infrastructure division.
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Coca-Cola HBC said its net sales revenue rose in the first quarter, with volumes higher due to extra selling days and an early Easter, though it faced a mixed effect from currency fluctuations across its operations. The company, the second-largest bottler of products made by US drinks group The Coca-Cola Co, said its net sales revenue in the first quarter to the end of March was EUR1.35 billion, up from EUR1.33 billion a year earlier. The group's volume rose by 7.2% in the quarter, up to 439 million unit cases from 409.6 million a year earlier, though its net sales revenue per unit case fell to EUR3.08 against EUR3.25.
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Intertek Group said it is trading in line with its expectations in 2015 so far, with good growth in the majority of regional operations and continued challenging conditions in its units exposed to the oil and gas and minerals markets. The FTSE 100-listed company, which provides testing, certification and inspection services, said revenue grew 3.3% in the four months to the end of April, pushed higher by sterling weakening against a number of currencies. At constant currencies, revenue grew 0.3%. Intertek said its operating margin in the period was broadly flat year-on-year.
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Brewer SABMiller said it has struck a deal to buy Greenwich, London-based craft beer company Meantime Brewing Co for an undisclosed amount. Meantime was founded in 1999 and now offers a range of beers sold in pubs across the UK, including London Lager and Meantime Pale Ale. SABMiller said it intends to grow sales of Meantime beers nationally and explore export opportunities in the European market.
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Housebuilder Bovis Homes said it is on track to meet its targets for the year, with a robust forward sales position for the remainder of the year, which the company expects to be more second-half weighted than in 2014. Bovis said it has made solid progress in 2015 to date, with total forward sales for 2015 delivery at 3,049 homes at May 8, up 8% year-on-year.
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A consortium of International Public Partnerships, Amber Infrastructure, and Transmission Investment has become the preferred bidder to own and operate the offshore transmission link to the Westermost Rough windfarm for the next 20 years, selected ahead of three other bidders. Ofgem, which regulates the electricity and gas markets in Britain, confirmed that the IPP consortium, Transmission Capital Partners, is the preferred bidder on the project, while Blue Transmission was named the reserve bidder. Bids involving Balfour Beatty and 3i Group weren't selected.
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AIM Movers
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Advanced Oncotherapy, up 12%. The company said it has issued 5 million shares under a warrant exercise and has issued a further 3.7 million shares under its deal with Brahma AG and further five-year warrants to the company. Powerflute Oyj, up 10%. The packaging company said it anticipates its full-year results coming in significantly ahead of market expectations following a good start to the year in both its Coreboard and Cores and Packaging Papers businesses. Oxford Pharmascience Group, up 9.9%. The pharmaceutical company said it has completed the development of a chewable ibuprofen product. The chewable version of its OXPzero ibuprofen product will reduce the risk of gastric irritation and will also mask the taste of the ibuprofen.

Caza Oil & Gas, off 18%. The company said its first quarter net loss narrowed after a fall in revenue and increased costs were offset by a substantial gain from swap contracts that the company entered to protect itself from the fall in oil prices. Revenue fell to USD3.4 million in the quarter from USD4.6 million a year earlier as an increase production was offset by the fall in oil prices.
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Top Economics And General
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UK construction output recovered strongly in March, data from the Office for National Statistics showed. Construction output grew 3.9% in March from February when it fell 0.3%. Economists had forecast a 4% growth for March. Year-on-year, construction output increased 1.6%, stronger than the expected growth of 1.1%.
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Foreign direct investment in China increased at a faster than expected pace in April, the Ministry of Commerce reported. FDI increased 10.5% in April from last year to USD9.6 billion. Economists had forecast the growth rate to slow to 2% from 2.2% reported in March.
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US President Barack Obama pledged an "iron-clad commitment" to the US' Gulf allies following talks meant to reassure the region amid concern about an Iran nuclear deal. After a summit with the Gulf Cooperation Council members at Camp David outside Washington, Obama said the US would work with the GCC countries to deter and confront external threats and said the US would increase security cooperation with the region.
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The opposition-led US Senate paved the way for consideration of fast-track trade authority for US President Barack Obama, overcoming opposition from within the president's own party. The vote, with 13 of Obama's own left-leaning Democrats joining 52 conservative Republicans in the 100-member Senate, overcame a filibuster by Senate Democrats earlier in the week. The parliamentary manoeuvre requires 60 votes before allowing legislation to be considered. With the legislative blockage ended, debate can begin, with possible fast-track package as early as next week. Trade promotion authority (TPA) is key to negotiations in two of President Barack Obama's top economic priorities - trade deals with the Pacific Rim and Europe.
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Afternoon Watchlist (all times in BST)

13:30 US NY Empire State Manufacturing Index
13:30 Canada Manufacturing Shipments
14:15 US Industrial Production and Capacity Utilization
14:30 UK CB Leading Economic Index
15:00 US Reuters/Michigan Consumer Sentiment Index Preliminary
21:00 US Total Net TIC Flows
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Monday's UK Corporate Events

Babcock International - Full Year Results
Cranswick - Full Year Results
Mitie Group - Full Year Results
Blinkx - Full Year Results
e2v Technologies - Full Year Results
Future - Half Year Results
Industrial Multi Property Trust - Q1 Interim Management Statement
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Monday's Key Economic Events (all times in BST)

Canada Victoria Day
00:01 UK Rightmove House Price Index
00:50 Japan Machinery Orders
05:30 Japan Industrial Production and Capacity Utilization
08:15 Switzerland Real Retail Sales
09:00 Italy Trade Balance
12:00 Germany Buba Monthly Report
15:00 US NAHB Housing Market Index
19:00 US Fed's Evans Speech
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By Tom Waite; thomaslwaite@alliancenews.com; @thomaslwaite

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