DCC Plc (LON:DCC) shares lose ground before takeover deadline
London trading was closed Saturday, so DCC Plc kept Friday’s ex-dividend price as its reference heading into next week’s takeover deadline. The stock didn’t move much for a deal situation, but what happened counts: the shares dropped even as some investors wanted a higher bid. DCC traded at 6,105p late Friday, around 420p below the 6,525p per share cash offer from the Energy Capital Partners and KKR & Co. group. If you add the 147.22p final dividend, the spread widens to 567.22p. But since the shares are ex-div, the cash offer is the main comparison for new buyers.