OCS Group to acquire Mitie in £3.1bn deal, delisting LSE

Facilities management giant Mitie has agreed to a 3.1 billion pound takeover by rival OCS Group, marking the latest in a wave of deals removing companies from the London Stock Exchange. The boards of both companies announced the recommended cash offer on Tuesday, July 21, 2026, which would create one of the UK's largest private-sector employers.

The deal values each Mitie share at up to 221.6 pence, representing a premium of approximately 45 percent over the company's closing share price of 151 pence on Monday, July 20. Mitie's board has unanimously recommended that shareholders accept the offer, which is expected to be completed during the first three months of 2027, pending shareholder and court approval. The combined entity would generate approximately 8.5 billion pounds in revenue and employ around 136,000 British workers, integrating Mitie's 84,000-strong workforce with OCS's global operations.

Company executives framed the merger as a strategic move to build a stronger British facilities management group. Mitie Chief Executive Phil Bentley stated the offer reflects the strength of the company's brand and delivers value for shareholders, adding that being part of a larger...