DCC Energy Board Endorses £5.75bn Takeover Offer

The board of DCC Energy has recommended a 5.75 billion pound takeover offer from a consortium led by U.S. private equity groups KKR and Energy Capital Partners, setting up a shareholder vote in September. The Dublin-based FTSE 100 company announced its support for the cash deal on Monday, July 27, 2026, despite significant criticism from some of its largest investors who argue the bid undervalues the firm.

Under the recommended terms, shareholders would receive 65.25 pounds per share in cash. They would also retain the company's final dividend of 1.47 pounds per share and could receive an additional payment of up to 1.25 pounds per share if DCC successfully sells its technology division, Nexora, for 800 million pounds. The base offer represents a 36 percent premium to DCC's volume-weighted average share price over the three months before takeover talks became public.

The board's endorsement follows weeks of negotiations and backlash from major shareholders, including Aviva Investors and Fidelity International. DCC's founder and a top shareholder, Jim Flavin, publicly criticized the recommendation, calling the price "totally inadequate" and questioning the board's judgment. In...