Mitie's £3.1bn takeover by OCS has sent shockwaves through London's markets, marking another significant departure for a prominent listed company. The deal will see OCS pay 221.6 pence in cash per share – a figure that includes 218.5 pence and a final dividend of up to 3.1 pence – representing a substantial 44.7% premium over Mitie's closing price on 20 July 2026.
The board has unanimously endorsed the acquisition as "fair and reasonable", with Chairman Chris Rogers stating that OCS's offer reflects the company's strengths, recent progress, and future opportunities, providing shareholders with a guaranteed cash return.
With operations in 26 countries, OCS will consolidate market share and enhance service offerings across the facilities management sector. The combined entity will be better positioned to support critical infrastructure and operations that underpin Britain's economy.
This takeover is the latest in a series of high-profile acquisitions, with engineering group Rotork purchased for £4.1bn last week (73% premium), insurer Beazley acquired by Zurich for £8.1bn (£59.8% premium) and Nuveen snapping up Schroders for £9.9bn (£34% premium). The trend of private buyers snapping up London-listed companies, coupled with a marked decline in initial public offerings (IPOs), has resulted in a shrinking market.
Only seven new listings have appeared on the London Stock Exchange so far this year, raising just £577.2m and valuing their combined total at £2.2bn. Peel Hunt's data highlights the extent of the decline, with CEO urging government action to address the trend and its broader implications for tax revenue and economic growth.