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Veritas Capital outbids CVC in £1.65bn Bodycote deal

privateequitywire

2 weeks ago

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US private equity firm Veritas Capital has agreed to acquire UK-listed engineering specialist Bodycote for approximately £1.65bn, after increasing its offer to move ahead of rival bidder CVC Advisers, according to a report by Bloomberg.
Veritas will pay 940 pence in cash for each Bodycote share under the recommended transaction, while the inclusion of debt takes the enterprise value of the deal to around £1.85bn.
The latest proposal represents an increase on the offers previously tabled by both...

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