London, Feb 24, 2026, 09:27 GMT — Regular session
- JTC edged up 0.15% in early trading, sticking close to the 1,300p mark.
- Societe Generale trimmed its stake, according to fresh disclosures, as other firms submitted reports tied to takeover positions.
- Investors await more filings, scanning for the next official move as the deal process moves forward.
JTC Plc ticked up by 2 pence to 1,300 pence on Tuesday, with shares bouncing between 1,298p and 1,302p during the morning. Roughly 40,000 shares changed hands. (London South East)
No major operating updates here—just a wave of paperwork. A stack of filings reveals the latest on JTC’s ownership as the agreed sale crawls through its schedule.
Back in November, JTC struck a deal to be acquired for 1,340 pence per share in cash by Papilio Bidco, which is controlled by Permira-advised funds, using a Jersey scheme of arrangement. This month, the company said that with shareholder approval secured, it now expects to wrap up the transaction in the third quarter of 2026. (Investegate)
Societe Generale trimmed its voting rights stake to 4.798% from 7.774%, according to a standard “TR-1” notification out Monday. The filing, which cites a change effective Feb. 19, was posted on Investegate.
Investors holding at least a 1% stake are still filing disclosures under Rule 8.3 of the UK Takeover Code, with Barclays among the names posting updates on Monday. (Investegate)
FIL Limited and FMR LLC each submitted a Form 8.3, disclosing their holdings as of Feb. 20. (Investegate)
A Feb. 20 Form 8.3 disclosure was filed by Tudor Investment Corporation, according to the document. (Investegate)
Jefferies International has submitted a Form 8.5, designating itself as an exempt principal trader—a specific status for broker-dealer firms involved in takeover deals. (Investegate)
The documents don’t introduce fresh deal terms, but they do provide a look at how institutions are positioning themselves as the process shifts from announcements to clearances.
Time and execution are the usual pitfalls in trades like this. Delays in regulatory signoff, longer-than-expected court or procedural hurdles—any shift in the deal’s trajectory can push the spread between where the market trades and the actual offer further apart.
Attention now shifts to the deal’s timeline and any additional position updates. JTC, for its part, has scheduled its full-year results for April 7, according to its calendar. (JTC)
