Bodycote said Apollo Management had pulled out of its proposed £1.5bn offer for the UK thermal processing company, sending its shares down 12%.
Source: Sharecast
“The board of Bodycote has strong confidence in Bodycote's potential and its strategy to create a high-performing, resilient business with attractive growth prospects,” the company said on Friday.
It reiterated it had made a positive start to 2026 trading as set out in a trading update last month. US-based Apollo submitted an all-cash bid to Bodycote two weeks ago after several approaches.
Reporting by Frank Prenesti for Sharecast.com
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