DCC (LON:DCC) share price holds below offer cash leg as spread widens
DCC plc traded below the clean cash leg of a possible takeover offer on Friday, a sign that the market is still pricing risk into a deal that the board has said it could support. The London Stock Exchange session runs to 16:30 BST; the quote came in late trade. At 6,110p, DCC was 415p below the 6,525p cash component proposed by KKR & Co Inc and Energy Capital Partners. That is a 6.8% gap. The wider 6,672.22p headline package, which includes the proposed final dividend, sits 562.22p above the quote, or 9.2%. DCC is already marked ex-dividend in Davy’s data, so new money in the stock is likely to focus more on the cash leg than the dividend-inclusive number.