Mitie agrees £3.1bn takeover by OCS in blow to London stock market

Board of UK government contractor recommends deal with private-equity owned rival

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The outsourcer Mitie has agreed to a £3.1bn takeover by its private-equity owned rival OCS Group, ending nearly four decades on the stock market and making it the latest London-listed company to be acquired this year.

On Tuesday, the government contractor said its board has recommended that shareholders accept a cash offer of 221.6p a share, a 44.7% premium to Monday’s closing price.