OCS Group agrees recommended £3.1 billion cash takeover of FTSE 250 outsourcer Mitie at a 45% premium to recent trading

Mitie, the London-based facilities management company listed on the FTSE 250, has agreed to a recommended cash acquisition by rival outsourcer OCS Group, valuing Mitie's equity at approximately £3.1 billion. The deal is structured as a cash offer of 218.5 pence per share plus a final dividend of up to 3.1 pence, giving a total of 221.6 pence per share and representing a 45% premium to Mitie's recent trading price. The transaction consolidates two of the UK's largest facilities management and outsourcing businesses, a sector that provides services including building maintenance, cleaning, security, and catering to large corporate and public sector clients. Mitie's shareholder base will receive the cash consideration at closing, subject to the customary regulatory and shareholder approvals required for a recommended public takeover in the UK. The deal is significant for the UK outsourcing sector, where scale is increasingly important for winning large government and corporate contracts. Mitie has material public sector exposure, which means the Competition and Markets Authority (CMA) will assess whether the combined entity's market position in any relevant service segment or geography creates competition concerns. UK public M&A rules under the Takeover Code will govern the timetable and disclosure obligations from this point, including offer document publication and acceptance period requirements.

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