Future plc snaps up SheerLuxe for £39.9m as buyback rolls on and Fidelity lifts stake
Future announced Thursday it will acquire UK digital publisher SheerLuxe, along with BLUSH Talent MGMT, for an initial £39.9 million in cash. Shares jumped 3.7% to 525.5 pence by 0835 GMT, per Fidelity data. The timing of the deal is tricky for Future, coming after a steep decline in its stock price. Shares have fallen over 40% in the last year and are hovering close to their 52-week lows, per data from Investing.com.