Three London-Listed Firms Agree to Takeover Offers

Three companies listed on the London Stock Exchange have agreed to takeover offers, signaling a continuing trend of firms exiting the UK market. Bodycote, an industrials group, agreed to an acquisition by US private equity firm Veritas Capital valued between £1.84 billion and £1.85 billion following a bidding war with CVC.

Telecoms provider Gamma Communications recommended a takeover offer from UK private equity firm Epiris valued between £1.08 billion and £1.1 billion. Meanwhile, Scottish energy firm Capricorn Energy agreed to be acquired by Norwegian rival DNO for $396 million, switching its recommendation to DNO after receiving a higher bid than a previous offer from Genel Energy.

These transactions follow other high-profile exits this year, including easyJet and Schroders. The total value of firms removed from the London market has now reached approximately $110 billion. Analysts describe the trend as a blow to the city's status as a global listing venue, suggesting the market has become a bargain bucket for overseas buyers.