Home›US Markets›M&A & Deals›Mitie agrees £3.1bn takeover by OCS in shift away from…

Mitie agrees £3.1bn takeover by OCS in shift away from the London listing

Mitie’s board recommends shareholders accept a cash offer of 221.6p per share, a 44.7% premium to Monday’s close.

Reported · Written up by our desk · M&A & Deals

Mitie has agreed to be acquired by OCS Group in a deal valued at £3.1 billion, bringing an end to nearly four decades as a London-listed company. The UK facilities management provider said its board will recommend that shareholders accept a cash offer.

The recommended price is 221.6p per share, representing a 44.7% premium to Monday’s closing price. Mitie, founded in 1987 and employing 84,000 people, said its business covers facilities management services including engineering maintenance, hygiene and security.

OCS, which operates across the UK, Europe, Asia Pacific and the Middle East, employs 135,000 staff and is owned by Clayton, Dubilier and Rice. OCS said the combination would support a broader British facilities management group focused on customers and helping more people into work.

Completion is expected in the first quarter of 2027, and the agreement adds to a string of London takeovers this year. Mitie shares were up 41% to a record high of 213.6p on Tuesday, according to the Guardian Business.

More like this

Sources