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Veritas Capital wins race for UK's Bodycote with $2.5 billion offer
Source: reuters.com
M&A & RestructuringCompany FundamentalsPrivate Markets & VentureRegulation & Legislation
Veritas Capital agreed to acquire Britain’s Bodycote for £1.85B ($2.51B) on a debt-inclusive basis, outbidding CVC after Apollo had exited the process earlier this year. The all-in valuation suggests a premium in the competitive M&A auction and is likely to be sector-relevant for industrials/engineering materials exposures.
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