Mitie has become the latest blue listed firm to fall to a takeover bid after agreeing to a £3.1 billion offer by rival outsourcer OCS Group.
OCS, which is owned by US private equity giant Clayton, Dubilier & Rice, claims it would create a British firm positioned to “support the organisations that keep the country running”.
Mitie’s board is recommending that shareholders accept the cash offer of 221.6p a share, which, with the dividend included, is a 46.8% premium to yesterday’s closing price.
The tie-up will create one of the UK’s largest private sector employers bringing together OCS’s 50,000 UK employees with Mitie’s 86,000 staff.
Mitie was founded in 1987 and specialises in facilities management, such as engineering maintenance and other services such as hygiene and security.
Its long-serving chief executive, Phil Bentley, announced last month that he would leave in March 2027 after more than 10 years in the job.
The deal is the latest raid on the London Stock Exchange with Beazley, EasyJet, Intertek and Schroders agreeing to takeovers this year, while the US property group Prologis has made repeated attempts to buy its FTSE 100 rival Segro.
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