Trio of UK-listed firms agree takeover offers in latest assault on the City

See more This is Money on Google - save us as a Preferred Source Updated: 04:15 EDT, 1 September 2026 The London stock market came under fresh pressure this morning after a trio of UK-listed firms announced plans to quit the City.FTSE 250 firms Bodycote and Gamma Communications and energy firm Capricorn Energy unveiled fresh takeover offers capping months of interest in the companies.Industrial coatings company Bodycote’s board unanimously recommended a £1.85billion takeover by US private equity firm Veritas Capital, outbidding Amsterdam-listed private equity giant CVC.The 940p-per-share offer comprises 932.8p in cash and a 7.2p interim dividend, representing a 34.5 per cent premium to Bodycote’s share price before takeover speculation first emerged in May. The City is grappling with an exodus of high-profile firms as foreign predators circle Gamma Communications agreed to a £1.08billion takeover by UK buyout firm Epiris, just days after confirming it was in talks with Netherlands-based Waterland over a possible takeover.It will see Gamma shareholders receive 1,120p in cash per share, valuing the company at £1.02billion in equity, marking a 53 per cent premium to its shares after interest in the group emerged months ago.The telecoms provider told shareholders in May that it was in talks with Epiris, seeing off interest from other firms including Providence Equity Partners and Oakley Capital.Waterland had planned to buy Gamma before selling a major chunk of it to Giacom, a telecoms firm chaired by Matthew Riley and backed by Inflexion, another private equity firm.Epiris today said that private ownership ‘will enable Gamma to invest further and focus on sustainably improving the growth of its businesses over the long-term’.The deals represent the latest blow to London’s status as a global listing venue, having already been hit by a series of takeovers and high-profile defections this year.These have included Easyjet, which agreed to a £5.7billion takeover deal with private equity firm Apollo, and Paddy Power owner Flutter which recently scrapped its London listing to solely list in New York.Separately, Norwegian oil firm DNO today agreed to buy UK-listed Capricorn Energy for $396million (£292million), outbidding rival Genel Energy.Capricorn withdrew its support for Genel’s $4.74 per share bid made in July after Kurdistan-focused DNO trumped the deal offering $5.214 in cash for each Capricorn share.DNO’s interest in Capricorn comes weeks after its attempt to buy Genel was rejected over valuation concerns.Chris Beauchamp, chief market analyst at IG said: ‘Any hope that the steady leak of FTSE companies to overseas buyers has stopped will have been dashed by this morning's trio of announcements.‘Barely a month after the deal to take Easyjet private, yet more firms are being bought up, with London remaining a bargain bucket worth investigating by others. While not of Easyjet's size or reputation, the news is another blow to the efforts of the LSE, the City of London and the government to maintain the importance of London's financial markets.’Bodycote shares rose 4.44 per cent to 953.5p in early trading, while Gamma Communications inched 0.79 per cent higher to 1,149p. Capricorn Energy jumped 7.58 per cent to 369p.DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you