KKR, Energy Capital in Detailed Talks for $6.7B DCC Acquisition, Face Deadline
KKR is trading near its 52-week low of $82.67 (12% above the low).
Summary
KKR and Energy Capital Partners are in detailed talks to acquire Ireland's DCC for over $6.7 billion, representing a revised offer of approximately £65 per share. This follows DCC's rejection of an earlier £4.95 billion proposal from the consortium in late April. The potential acquisition is a significant capital deployment for KKR, valued at roughly 7.8% of its market cap. The consortium faces a 5:00 pm GMT deadline today to submit a firm offer or withdraw its bid for six months under UK takeover rules.
At the time of this announcement, KKR was trading at $92.21 on NYSE in the Finance sector, with a market capitalization of approximately $86.1B. The 52-week trading range was $82.67 to $153.87. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Reuters.