Bodycote stock falls 3.01 percent as CVC exits bid

Published on 09/28/2026 at 10:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Bodycote stock stood at GBp 918.00 on September 28, 2026, while the takeover process entered a new stage. CVC left the contest and Veritas kept its 940 pence offer.

Glühende Stahlteile in industrieller Wärmebehandlungsanlage mit Arbeitern in Schutzausrüstung — Fotorealistische Aufnahme einer Wärmebehandlungsanlage von Bodycote plc, ISIN GB00B3FLWH99, mit glühenden Stahlteilen im Industrieofen, Illustration mit AI erstellt.

Bodycote stock (ISIN GB00B3FLWH99) was last at GBp 918.00 on the London Stock Exchange on September 28, 2026, down 3.01 percent from the prior session. The move followed CVC's decision to abandon its pursuit, leaving Veritas Capital as the remaining bidder in the recommended takeover process.

CVC leaves the bidding process

As MarketScreener carried in a Reuters report dated September 28, 2026, CVC said it would not make an offer for the British thermal processing group. The decision removes the rival bidder from a process that had included competing proposals from CVC and Veritas.

Bodycote's quoted price sat GBp 49.50 below its 52-week high of GBp 967.50 and GBp 333.00 above its 52-week low of GBp 585.00 on the same market snapshot. Volume reached 741,324 shares, giving investors a direct measure of the session's activity.

Veritas offer remains at 940 pence

According to Investegate, the recommended transaction announced on September 1, 2026 values each share at 940 pence, comprising 932.8 pence in cash and a 7.2 pence interim dividend. The total offer value stood 2.40 percent above the September 28 reference price.

The same announcement identifies the deal's equity value at GBP 1.64 billion on a fully diluted basis and says the scheme is expected to become effective in Q1 2027, subject to shareholder, court and regulatory conditions. A scheme document was published on September 28, 2026, according to Yahoo Finance.

Operating growth supports the bid

Bodycote entered the takeover process with fresh operating momentum. In first-half 2026, revenue increased 3.3 percent to GBP 381.2 million and adjusted operating profit rose 10.7 percent to GBP 61.0 million, as reported by Business News Today.

Aerospace and defence organic revenue expanded 25 percent in that period, while the Specialist Technologies division delivered 16.7 percent organic growth. The contrast with weaker automotive and industrial markets remains central to the investment case and explains why the offer combines immediate cash value with a defined transaction timetable.

Bodycote stock remains below offer value

Bodycote stock was last at GBp 918.00 on the London Stock Exchange at 9:47 a.m. London time on September 28, 2026, with the 940 pence offer as the central valuation reference. The spread reflects the remaining conditions and timetable rather than a new operating forecast.