DCC shares end near £61.50 following KKR takeover proposal
DCC Plc slipped 20p to 6,150p on the London market Thursday afternoon, holding in a range of 6,145p to 6,180p. The move is modest against a near 1% decline in the FTSE 100, where the energy distributor from Dublin trades. DCC is now trading like a merger-arb situation. Shares are at 6,150p, which is 375p, or about 6.1%, below the 6,525p cash offer that's been made. The spread points to deal risk—a sign that the market isn't sure the transaction will go through.