M&A activity dominated the morning news flow, with a potential oil sector consolidation and a cross-hemisphere retail takeover bid both landing before the open. Alongside the deal news, strong full-year results from Peel Hunt, an FDA approval for AstraZeneca, and a string of contract wins across technology and automotive sectors rounded out a busy slate for small and mid-cap investors to digest.
Reabold granted due diligence access in Union Jack Oil approach
Union Jack Oil (AIM:UJO) confirmed it has granted Reabold due diligence access as the two parties hold discussions over a potential offer under the City Code on Takeovers and Mergers. Reabold has been set a deadline of 5.00pm on 13 July to announce its firm intentions or walk away.
Frasers Group lodges Australian bid for Accent Group
Frasers Group (LSE:FRAS) has lodged a bidder's statement with Australian regulators and will formally open an unconditional takeover offer for footwear and lifestyle retailer Accent Group when ASX trading begins on 30 June. The offer period runs through to the close of trading on 30 July, giving Accent shareholders a month to consider the approach.
Intercede and Swissbit to co-develop post-quantum FIDO2 passkeys
Intercede Group (AIM:IGP) has extended its partnership with hardware security specialist Swissbit to co-develop an end-to-end FIDO2 passkey solution capable of incorporating post-quantum cryptography. The two companies plan an initial public demonstration of the technology at the Identiverse conference in Las Vegas, positioning Intercede at the intersection of two fast-moving security trends: passwordless authentication and quantum-resistant encryption.
IQE secures multi-year InP supply deal with Tower Semiconductor
IQE (AIM:IQE) signed a multi-year agreement to supply Indium Phosphide epiwafers to Tower Semiconductor, which uses the material in silicon photonics components destined for AI data-centre optical interconnects. The deal also includes a royalty-free licence that brings prior intellectual property litigation between the two parties to a close, removing an outstanding legal overhang for the compound semiconductor wafer maker.
Peel Hunt posts record Investment Banking fees in FY26
Peel Hunt reported full-year revenue of £143.5 million for FY26, a 57.1% increase on the prior year, driven by its highest-ever Investment Banking fees. The result marks a sharp recovery for the mid-market broker, which has benefited from a revival in UK equity capital markets activity over the period.
Seeing Machines wins two Japanese OEM driver-monitoring contracts
Seeing Machines (AIM:SEE) secured contracts to supply driver and occupant monitoring software to two separate Japanese carmakers, with the programmes carrying a combined estimated initial lifetime value of approximately US$11 million. The wins deepen Seeing Machines' penetration of the Japanese automotive market and add to its growing roster of OEM partnerships as in-cabin monitoring becomes a regulatory requirement across major markets.
AstraZeneca's Truqap wins FDA approval for prostate cancer
AstraZeneca (LSE:AZN) received US FDA approval for Truqap (capivasertib) as the first and only targeted therapy for adult patients with PTEN-deficient metastatic androgen pathway modulation-naïve or sensitive prostate cancer. The approval opens a new commercial indication for capivasertib, which AstraZeneca had already established in breast cancer, and addresses a patient population with prior treatment options.
Big Yellow sells Harrow estate to fund twelve-store pipeline
Big Yellow Group completed the disposal of Harrow Industrial Estate for £38.4 million, with the proceeds earmarked to fund the development of eleven new self-storage stores and one replacement store already in its pipeline. The sale recycles capital from a non-core industrial asset into the company's core growth strategy without requiring additional external financing.
