The Financial Conduct Authority (FCA) has closed its investigation into energy company Drax, determining that no action will be taken following concerns about the firm’s biomass wood sourcing. The inquiry came after whistleblower allegations that Drax had potentially misled the market, but the regulator found insufficient grounds to pursue enforcement.

In financial markets, shares of French payment provider Edenred jumped sharply after the company revealed it had received exploratory approaches from investment funds. Addressing the surge in speculation, Edenred clarified it currently has no confirmed information regarding the seriousness or progress of any potential interest.

Meanwhile, British laboratory testing company Intertek agreed to a £9.5 billion takeover by Swedish private equity firm EQT. Intertek’s board accepted a £61.08 per share offer, marking a significant premium over previous proposals of £51.50, £54, and £58 per share that the company had declined. The deal will result in the London-listed firm becoming foreign-owned.

On the stock market, shares of consultancy giant Accenture dropped sharply in pre-market trading following disappointing guidance for the current quarter. The company also announced a planned investment exceeding $4 billion (£3.03 billion) to expand its cybersecurity capabilities. Accenture projected fourth-quarter revenues in the range of $17.75 billion to $18.40 billion (£13.31 billion to £13.89 billion), signaling cautious expectations for the period ahead.