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Finance

UK's Bodycote gets possible cash offers from CVC and Veritas

Published by Global Banking & Finance Review

Posted on August 5, 2026

1 min read

· Last updated: August 5, 2026

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Finance Markets Mergers & Acquisitions

Bodycote Receives Competing Cash Offers from CVC and Veritas, Shares Jump

Bodycote Attracts Takeover Interest from Private Equity Firms

Overview of Takeover Proposals

Aug 5 (Reuters) - Bodycote said on Wednesday it had received separate takeover proposals from private equity firms CVC Advisers and Veritas Capital, valuing the thermal processing services provider at about £1.56 billion ($2.10 billion), and sending its shares up 22%.

Company Response to Offers

The British company said it would be minded to recommend either if talks lead to a firm bid.

Details of Competing Offers

CVC's proposal values the company at up to £9.15 per share, narrowly above Veritas's £9.14 per share proposal, the company said. Both comprise a cash consideration and an interim dividend for 2026.

Responses from CVC and Veritas

CVC declined to comment while Veritas did not immediately respond to Reuters request.

Additional Information

($1 = 0.7423 pounds)

(Reporting by Nithyashree R B and Ankita Bora in Bengaluru; Editing by Joyjeet Das)

Key Takeaways

  • Bodycote, a UK-listed thermal processing services provider, received rival takeover proposals valuing it at approximately £1.56 billion (~$2.10 billion) – CVC’s offer at £9.15/share narrowly tops Veritas’s £9.14/share, each including cash and a 2026 interim dividend.
  • Shares of Bodycote soared roughly 22% following the takeover news, as the board indicated it would be 'minded to recommend' either offer pending firm bids.
  • Bodycote—founded in 1923 with over 165 facilities across 22 countries—is the global leader in heat treatment, hot isostatic pressing, metal joining and surface technologies, serving industries such as aerospace, automotive, energy and medical devices.

Frequently Asked Questions

Who made takeover proposals for Bodycote?
Private equity firms CVC Advisers and Veritas Capital made separate takeover proposals for Bodycote.
How much is Bodycote valued at in the offers?
The takeover offers value Bodycote at about £1.56 billion ($2.10 billion).
What is the per share proposal from CVC and Veritas?
CVC's proposal values Bodycote at up to £9.15 per share, slightly higher than Veritas's £9.14 per share.
How did Bodycote's shares react to the takeover news?
Bodycote's shares rose by 22% following news of the takeover proposals.
Did CVC or Veritas comment on the proposals?
CVC declined to comment and Veritas did not immediately respond to Reuters' request.

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