London Stock Exchange to lose three more firms after takeover offers
Summary
Three more companies listed on the London Stock Exchange (LSE) are being taken over by private equity firms, as the total value of companies leaving the LSE reaches over $100 billion this year. These takeovers involve firms from different sectors including manufacturing, telecoms, and energy, with buyers primarily from the US and Europe.Key Facts
- Bodycote, an industrial services company, agreed to a £1.84 billion takeover by US private equity firm Veritas.
- Gamma Communications, a telecom company, accepted a £1.1 billion offer from UK private equity firm Epiris.
- Scottish energy company Capricorn agreed to a $396 million deal with Norwegian company DNO after switching from a previous recommendation.
- The London Stock Exchange has seen nearly $110 billion worth of companies taken over this year.
- Notable recent takeovers include easyJet bought by US firm Apollo for £5.7 billion and warehouse firm Segro acquired by US company Prologis for £14 billion.
- Other large deals involve Schroders (£9.9 billion takeover by a US investor) and Intertek (£10 billion takeover by a Swedish-led group).
- The trend suggests many companies prefer private ownership to public market pressures, seeking more flexibility for growth.
- Most buyers are private equity firms or competitors from outside the UK.
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