DCC plc £5.75bn private equity takeover

DCC plc, a Dublin-based energy services company listed on the Aquis Stock Exchange, has agreed to a £5.75bn takeover by US private equity firms KKR & Co. and Energy Capital Partners. The board recommended the cash offer of £65.25 per share, plus a contingent £1.25 per share payment tied to the sale of its technology division Nexora. The offer represents a 36% premium to the average share price over the three months before talks became public. However, the deal faces significant opposition from founder Jim Flavin and major shareholders Aviva and Fidelity, who argue the price undervalues the company given its 2022 strategy to double operating profits to £830m by 2030. The acquisition is part of a broader trend of UK-listed companies being taken private, including Mitie, Tate & Lyle, and Evoke, with EasyJet also reportedly subject to a potential offer.