26th Apr 2021 17:02
Aggreko PLC - FTSE 250 temporary power generation supplier - Gains shareholder approval at court and general meeting for GBP2.32 billion takeover offer from Albion Acquisitions, first agreed to in early March.
Albion Acquisitions is a company newly formed by funds managed by Miami-based private equity firm I Squared Capital Advisors US LLC and investment funds managed by London-based private equity firm TDR Capital LLP.
On Wednesday last week, Sky News reported that Liontrust Asset Management PLC, which holds a 12% stake in Aggreko, would vote against the deal.
As a result, for the court meeting, 76% of shareholders voted in favour of the takeover, while at the general meeting 87% of shareholders voted in approval.
Now, Aggreko's takeover is conditional only on being sanctioned by the Court of Session at Edinburgh.
Current stock price: 862.00 pence
Year-to-date change: up 38%
By Dayo Laniyan; [email protected]
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