CVC has ended its pursuit of Bodycote, removing the final competing bid for the UK-listed thermal processing specialist and leaving Veritas Capital on track to complete its £1.85bn ($2.45bn) acquisition, including debt, according to a report by Reuters.
The private equity firm said on 28 September that it does not intend to make an offer for Bodycote, bringing an end to a bidding contest that had emerged between CVC and US-based Veritas.
Veritas secured the backing of Bodycote’s board earlier th...
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