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UK's Bodycote confirms $2.04 billion buyout proposal from Apollo - Finance news and analysis from Global Banking & Finance Review
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UK's Bodycote confirms $2.04 billion buyout proposal from Apollo

Published by Global Banking & Finance Review

Posted on May 22, 2026

1 min read

· Last updated: May 22, 2026

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UK's Bodycote receives $2.04 billion buyout proposal from Apollo

Details of Apollo's Buyout Proposal

Conditional Offer and Valuation

May 22 (Reuters) - Britain's Bodycote on Friday said it received a conditional proposal from Apollo for a possible all-cash offer, valuing the thermal processing services provider at about £1.52 billion ($2.04 billion).

Market Reaction

Share Price Surge

Shares in the London-listed company rose nearly 16% to 810 pence.

Premium Offered

The U.S.-based alternative asset manager's proposal came in 885 pence per share in cash, a nearly 27% premium to Bodycote's closing price on Thursday.

Shareholder Entitlements

Dividend Details

Bodycote shareholders will also be entitled to receive a proposed final dividend of 16.1 pence per share for the 2025 financial year.

Currency Exchange Rate

($1 = 0.7450 pounds)

Reporting Credits

(Reporting by Nithyashree R B in Bengaluru; Editing by Mrigank Dhaniwala and Janane Venkatraman)

Key Takeaways

  • Apollo has made a conditional takeover offer for Bodycote at approximately £1.52 billion (~$2.04 billion) (bodycote.com)
  • Bodycote remains committed to its capital allocation strategy, having launched an £80 million share buyback program through end‑2027 (ca.investing.com)
  • The company’s Optimise restructuring plan is underway, involving site disposals and operational improvements to improve margins and growth prospects (prnewswire.co.uk)

References

Frequently Asked Questions

Who made the buyout proposal to Bodycote?
Apollo made a conditional proposal to acquire Bodycote.
How much is Bodycote valued at in the proposal?
Bodycote is valued at about £1.52 billion ($2.04 billion) in the offer.
What type of offer did Apollo make to Bodycote?
Apollo made a possible all-cash buyout offer.
What services does Bodycote provide?
Bodycote is a provider of thermal processing services.

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