The Irish Takeover Panel has extended the deadline for private equity firms KKR and Energy Capital Partners to submit a firm takeover offer for the Irish energy distributor DCC. This marks the third extension since the consortium first proposed the acquisition in late April. The new deadline is set for tonight.
KKR and Energy Capital Partners have offered £5.7 billion to acquire DCC, a Dublin-based company listed on the London Stock Exchange. The offer includes a cash payment of £65.25 per share, in addition to the company’s final dividend of 147.22 pence per share.
The most recent extension is the shortest granted to the bidders, reflecting continued negotiations and the desire for additional time to finalize the offer. The extensions reflect the complexities involved in completing the takeover of a major energy distributor operating across multiple markets. DCC’s board and shareholders are expected to carefully consider the offer once it is formally submitted within the extended timeframe.
