Investing.com — fell 19% to 1,620p today after Israeli hospitality operator formally abandoned its pursuit of the company. Fattal concluded it would not proceed with its indicative £22-per-share cash offer following opposition from Euro Plaza Holdings, which controls approximately 33% of PPHE’s issued share capital.
PPHE’s independent committee, established specifically to oversee the takeover process, determined that the Fattal proposal was no longer capable of being delivered in its current form. The decision removed the takeover premium that had supported PPHE’s share price since the bid was first disclosed in late May.
The collapse of the Fattal approach leaves PPHE’s strategic review — launched in November 2025 and now running for more than seven months — without a concluded outcome.
A partial offset came from PPHE’s disclosure that it received a separate preliminary indicative proposal from an unidentified third party on May 31, 2026, which is currently at a very early stage of assessment.
However, the uncertainty surrounding that alternative interest, combined with the absence of a firm offer, was insufficient to stem the sharp sell-off.
The broader UK market provided little support, with the FTSE 100 slipping 0.12% on the day, underperforming European counterparts as investors digested a significant public sector borrowing overshoot — May borrowing came in at £23.3 billion, the second highest on record and £5.6 billion above forecast — alongside political uncertainty triggered by Andy Burnham’s by-election victory, which intensified speculation about a Labour leadership challenge.
UK retail sales volumes beat expectations, rising 1.2% in May against a forecast of 0.5%, but that positive data point was overshadowed by the fiscal concerns.
Together, the abrupt end to the Fattal takeover process, the lingering uncertainty around any alternative bid, and a cautious broader market environment combined to send PPHE shares sharply lower, with the stock hitting a session low of 1,599.85p — well below its 52-week high of 2,090p — as investors unwound positions that had been built on acquisition expectations.
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