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(Sharecast News) - Bodycote surged on Wednesday as the provider of heat treatment and specialist metallurgical technologies confirmed it had received takeover offers from private equity firms CVC and Veritas Capital.
CVC offered 915p per share for Bodycote. This includes 907.8p in cash, plus the interim dividend for the year to the end of December 2026 of 7.2p. Meanwhile, Veritas offered 914p per share, comprised of 906.8p in cash, plus the interim dividend.
Bodycote said it had carefully considered both proposals with its advisers and that it would be minded to recommend either, should a firm offer be made.
Under UK takeover rules, CVC and Veritas have until 1700 BST on 2 September to either announce a firm intention to make an offer or walk away.
Bodycote said it was in talks with both parties and has provided both with access to confirmatory due diligence.
The shares ended 23% higher at 923p.
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