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Finance

Ashtead Technology receives $660 million takeover proposal from Ember

Published by Global Banking & Finance Review

Posted on September 23, 2026

1 min read

· Last updated: September 23, 2026

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Ashtead Technology receives $660 million takeover proposal from Ember

Details of Ember's Takeover Proposal for Ashtead Technology

Overview of the Proposal

Sept 23 (Reuters) - British subsea technology firm Ashtead Technology on Wednesday said it has received a non-binding indicative proposal from Ember Infrastructure Management that values the company at about £498 million ($659.75 million).

Key Offer Details

Acquisition Terms

• Ashtead said Ember has proposed to acquire the company for 615 pence per share in cash.

Premium Offered

• The offer represents a 12.8% premium to Ashtead's last closing price of 545 pence.

Previous Approaches

• The proposal follows three previous approaches from Ember, the first two of which were rejected by the board, Ashtead said.

Current Consideration

• The company is considering the latest proposal with its advisers, it added.

Takeover Timeline

• Under UK takeover rules, Ember has until October 21 to announce a firm intention to make an offer or say it does not intend to proceed.

Exchange Rate Information

($1 = 0.7548 pounds)

Reporting Credit

(Reporting by Megha Kumari in Bengaluru)

Key Takeaways

  • Ember has submitted a fourth unsolicited indicative proposal, after two prior offers were rejected by Ashtead’s board (investegate.co.uk).
  • The proposed cash price of 615 pence per share values Ashtead at ~£498 million, representing a 12.8% premium to the last closing price of 545 pence (investegate.co.uk).
  • As required under UK takeover rules, Ember must either make a firm offer or confirm it will not proceed by 5 pm London time on October 21, 2026 (investegate.co.uk).

References

Frequently Asked Questions

Who proposed the takeover bid for Ashtead Technology?
Ember Infrastructure Management proposed the takeover bid for Ashtead Technology.
How much is Ashtead Technology valued in the proposal?
The proposal values Ashtead Technology at about £498 million ($659.75 million).
What is the proposed offer per Ashtead share?
Ember proposed to acquire Ashtead Technology for 615 pence per share in cash.
What is the deadline for Ember to announce a firm offer?
Ember has until October 21 to announce a firm intention to make an offer or withdraw.

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