Mitie, a UK facilities and outsourcing company providing services such as security and cleaning to public and private sector clients, says it has agreed to be acquired by OCS Group for £3.1 billion. Multiple outlets report the deal is structured as a cash offer to Mitie shareholders and follows Mitie’s acceptance of the proposed bid from OCS.
The companies’ announcement states that Mitie’s board recommends shareholders accept the offer. The Guardian reports the recommended price is 221.6p per share, representing a 44.7% premium to Mitie’s closing price from Monday. The Guardian also describes the agreement as ending nearly four decades of Mitie being listed on the London stock market. The Financial Times frames the announcement as part of a wider trend of London-listed companies agreeing takeover deals.
Taken together, the reporting indicates that OCS Group is the winning bidder, Mitie’s board backs the transaction, and the offer price and premium are as stated in the sources. If completed, the acquisition would transfer ownership of Mitie to OCS.
