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London Stock Exchange set for more listings loss after takeover deals

Bodycote agreed to a 1.84 billion pounds takeover by Veritas, while Gamma Communications backed a 1.1 billion pounds offer from Epiris, adding to deal volume that has already pushed the year past 100 billion dollars in value.

Reported · Written up by our desk · Trade & Tariffs

The London Stock Exchange is poised to lose additional listed companies as a run of takeover offers removes firms from public markets, with the total value of deals topping $100 billion in the year so far, according to the Guardian Business.

In one major transaction, Bodycote, the FTSE 250 industrials group listed since 1972, agreed to be bought for 1.84 billion pounds by the US private equity firm Veritas. Bodycote shares jumped 4.5%, after CVC, which had been part of a bidding war, indicated it might submit a counteroffer. The company said shareholders should take no action in response to the Veritas offer while matters are pending.

Veritas said the deal would provide Bodycote with enhanced flexibility and a longer-term perspective as a private company, aimed at supporting investment and growth opportunities. Separately, telecoms firm Gamma Communications recommended a 1.1 billion pounds offer from UK private equity group Epiris, after earlier confirming it was in possible takeover discussions involving Waterland.

The article also notes that additional takeovers are further pressuring the exchange as deals continue to push capital markets activity toward private ownership.

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