DCC Energy accepts £5.75bn takeover bid from ECP and KKR.
Energy sales and distribution firm DCC Energy said on Monday that Energy Capital Partners and KKR had agreed to acquire it in a cash deal worth up to £5.75bn.
Source: Sharecast
DCC said the offer included a base payment of 6,525p, a 147.22p final dividend, and a potential 125p linked to a planned technology disposal, valuing the business at about 6,797.22 per share - a 24% premium to its undisturbed closing price.
DCC's board intends to unanimously recommended shareholders vote in favour of the offer and all resolutions, describing it as a compelling opportunity to crystallise value.
The FTSE 100-listed noted that the transaction was expected to complete in the first quarter of 2027.
DCC chairman Mark Breuer said: "Whilst the DCC Energy board remains confident in the energy strategy and associated 2030 ambition announced in 2022, the board believes the consortium's offer represents a compelling opportunity for shareholders to crystallise value in cash at an attractive premium to DCC Energy's historical trading price.
"We are confident that the consortium will be strong stewards of DCC Energy's 50-year heritage and support the business during its next phase of growth."
As of 0820 BST, DCC shares were up 1.03% at 6,350p.
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