U.K. Takeover Wave Accelerates as Rotork Agrees £4.1 Billion Sale to ABB

According to CNBC, a wave of takeover activity in the United Kingdom intensified after Rotork agreed to a £4.1 billion ($5.5 billion) takeover by Swiss-Swedish engineering group ABB. The same day, Gooch & Housego accepted a £346 million offer from U.S. private equity firm Arlington Capital and Ramsdens agreed to a £200 million takeover by Nasdaq-listed FirstCash. A day later, Mitie agreed a £3.1 billion takeover by private equity-owned rival OCS Group. Peel Hunt research head Charles Hall said there have been 154 bids, completed or ongoing, for U.K. companies with market capitalizations above £100 million since the start of 2023, with a total value of £165 billion. He also said seven large U.K. companies, including CRH and Wise, have moved their listings since the start of 2023, while eight U.K.-based companies, most notably Arm Holdings, have listed overseas. Peel Hunt chief executive Steven Fine said Rotork, Gooch & Housego and Ramsdens accepted offers at premiums of 73%, 41% and 49% to their share prices, respectively.