Bodycote confirms takeover talks with Apollo, shares surge.
Bodycote surged on Friday as it confirmed it has received a conditional takeover proposal from private equity firm Apollo Management.
Source: Sharecast
The offer comprises 885p per share in cash and the proposed final dividend of 16.1p per share for the 2025 financial year.
Bodycote, which provides thermal processing services, said the latest proposal follows a number of previous approaches from Apollo about a possible offer.
"The board of Bodycote and Apollo are in discussions regarding the proposal," the company said in a brief statement. It added that there can be no certainty that any offer will be made, nor as to the final terms on which any offer might be made.
Under UK takeover rules, Apollo has until 1700 BST on 19 June to either announce a firm offer or walk away.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
