Apollo Global Management has made a £1.5bn approach for London-listed industrial services company Bodycote, according to a report by the Financial Times, marking the latest attempt by a private equity buyer to take a UK-listed business private.
Bodycote reportedly confirmed on Friday that it had received a conditional cash proposal from Apollo valuing the company at 885p per share. The company said the approach follows “a number of previous proposals” from Apollo regarding a potential offer.
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