theguardian_business

Private equity finds soft takeover targets in London – yet again | Nils Pratley

📰 source: theguardian_business · 💼 business

another london-listed company falls to private equity. dcc energy, a ftse 100 energy services firm, has agreed to a £5.75bn takeover by kkr and energy capital partners, at £65.25 a share. shareholders like fidelity international and aviva investors opposed, arguing the price was too low given dcc's execution of its 2030 strategy to double operating profits to £830m. the board defended the deal as a certain cash exit, citing a lack of new public market investors. this is the fifth agreed takeover of a ftse 100 company this year, adding to a wave of london exits. peel hunt counts 154 bids for uk firms over £100m since 2023. the trend highlights a shrinking public market and a preference by private equity for long-term bets.

why it matters: london's public market is losing companies to private equity at an accelerating rate, raising questions about depth of capital and long-term competitiveness.

source: theguardian_business
sentiment: -0.10 · impact: 0.60

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects