TAKING STOCK

r In a classic marriage of convenience Brackenbridge, the Pronupta bridalwear group, has merged with Langside Hire to create the Formal Group.

The shares, suspended while the deal was stitched together, were heavily traded when dealings resumed yesterday. As part of a rescue refinancing 101.3 million new shares were placed with institutions while others were offered to existing shareholders.

r A rights issue, perhaps pounds 5m, is thought to be imminent at Tepnel Life Sciences, a biotechnology business which has had a difficult time.

The shares were firm yesterday, largely on a tip sheet recommendation.

In its last reported full year the company lost pounds 2.4m and there was a pounds 890,000 deficit at its last half-year.