Veritas Capital to Acquire Bodycote in GBP1.9 Billion Deal

02:58 AM EDT, 09/01/2026 (MT Newswires) -- Bodycote (BOY.L) said Tuesday it agreed to a takeover by Veritas Capital Fund Management's Vulcan Alpha Bidco for an enterprise value of 1.85 billion pounds sterling. The British thermal processing service provider's shareholders will receive 9.40 pounds for each share held, comprising 9.328 pounds in cash and an interim permitted dividend of 0.072 pound per share. The dividend will be paid on Nov. 5 to shareholders on record Oct. 2. On a fully diluted basis, the offer values Bodycote's entire issued and to be issued share capital at 1.65 billion pounds. The transaction will be implemented via a court-sanctioned scheme of arrangement, with closing expected in the first quarter of 2027.