LONDON, June 24, 2026, 15:11 BST
- DCC gained 0.8% to 6,205.59 pence in late reported London trading, still 4.9% under the consortium’s 6,525p cash offer.
- KKR and Energy Capital Partners now have until 5 p.m. London time on July 8 to either put forward a firm offer or step back, according to .
- Allianz Global Investors offloaded 65,704 shares on June 23, cutting its stake to 2.62%.
DCC Plc traded higher Wednesday, with shares up 0.9% near 6,210p, but still below the 6,525p cash offer from KKR and Energy Capital Partners. Shares didn’t close the gap despite the potential takeover bid.
The spread, or gap between the current market price and the proposed cash price, was about 5%. That puts the gross upside at around 5.2% from a price close to 6,200p if the consortium comes in with a firm offer at that cash price.
The package is listed as 6,672.22p, with holders set to get DCC’s planned 147.22p final dividend. After shares went ex-dividend on May 28, new buyers don’t get the payout. For those investors, only the 6,525p cash part applies.
DCC’s board signaled it would likely back the updated bid if the consortium comes through with a firm offer matching the current financial terms and both sides finish the paperwork. The company gave the consortium a short window for confirmatory due diligence.
Allianz Global Investors sold 65,704 DCC shares at an average price of £61.571036 each on June 23, according to a Wednesday filing. The firm kept 2,239,513 shares, leaving it with 2.62% of DCC.
Filings show J&E Davy picked up 138,779 shares and unloaded 113,316 on June 23. Goldman Sachs bought 109,662 shares and sold 69,174. The filings listed client trades by intermediaries and were not offer announcements.
DCC turned down the consortium’s initial £58-a-share offer in April. Berenberg’s James Bayliss at the time said the bid was “heavily opportunistic” and that shareholders and management would need a “significant uplift.” Reuters
DCC said last month its adjusted operating profit from continuing operations rose 3.6% to £634 million for the year to March 31. Revenue slipped 2.9% to £15.44 billion. The adjusted profit figure leaves out exceptional items and some charges on intangibles.
DCC CEO Donal Murphy said, “With our Group reshaped, our focus has shifted from simplification to execution.” The company is set to change its name to DCC Energy Plc later this year. DCC
DCC wants to sell Nexora, its last tech distribution arm. Nexora posted £2.5 billion in revenue and £79.8 million in operating profit. DCC is targeting a deal by the end of 2026.
The spread could get bigger if the consortium pulls out or if the final documents aren’t signed. DCC says there’s no guarantee of an actual offer. No deal could mean the shares drop and some of the takeover premium is gone.
DCC plans to hold its annual general meeting on July 16 in Dublin. Shareholder proxy forms must be in by July 14.
