Bodycote Confirms Apollo's 885p-a-Share Bid, Sending Stock Up 17%
Updated
Updated · London South East · May 22
Bodycote Confirms Apollo's 885p-a-Share Bid, Sending Stock Up 17%
6 articles · Updated · London South East · May 22
Bodycote said Apollo Management has made a conditional takeover proposal worth 885p a share in cash plus a proposed 16.1p final dividend for 2025.
The company said the approach follows several earlier proposals and that talks with Apollo are ongoing, while cautioning there is no certainty a firm offer will be made or on what final terms.
Bodycote shares rose 17.1% to 813p in London trading, extending a rally after the bid emerged earlier in the day.
Apollo's proposal values the UK thermal processing group at about $2.04 billion and gives the private equity firm until June 19 to decide whether to make a firm offer.
Will Apollo's takeover accelerate Bodycote's AI-driven growth, or will financial pressures stifle its innovation in critical defense and aerospace sectors?
Is Apollo's £1.5B bid a financial play, or a strategic move to control a key industrial technology supplier?