Recommended cash offer would pay Mitie shareholders up to 221.6 pence a share and combine the companies into a UK-headquartered international facilities management group with broader sector expertise and geographic reach.
U.K. outsourcing company Mitie Group has agreed to a recommended takeover by OCS Group in a deal worth up to 3.1 billion pounds ($4.16 billion). Under the terms announced Tuesday, Mitie shareholders would receive up to 221.6 pence a share, comprising 218.5 pence in cash plus a final dividend of up to 3.1 pence for the year ended March 2026. OCS said the combination would create a UK-headquartered international facilities management group with wider sector coverage, a broader geographic footprint and greater capacity to invest in people, technology and specialist services. The proposed acquisition remains subject to the terms and conditions set out in OCS's Rule 2.7 announcement.