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

Mitie has agreed to a £3.1bn takeover by its private-equity owned rival OCS Group, in a deal that would end the outsourcer’s long run on the London stock market and add to a growing list of UK-listed firms being taken over.

The UK government contractor said on Tuesday that its board had recommended shareholders accept a cash offer of 221.6p a share. That price represents a 44.7% premium to Mitie’s closing share price on Monday, according to the monitored public feed from The Guardian Business.

If completed, the transaction would remove Mitie from public markets after nearly four decades as a listed company. It would also underline the pressure on London’s stock market, which has seen a series of companies drawn into takeover deals this year.

OCS Group, which is privately owned by private equity, is set to become the new owner if shareholders approve the bid and the deal clears the remaining customary steps. The board’s recommendation is a key sign of support for the offer, though the transaction still depends on shareholder and other approvals.

Mitie is one of the UK’s best-known outsourcing and facilities management businesses, with operations that include services for government and other large clients. The proposed takeover comes amid continuing scrutiny of the value public markets offer to mature British companies, especially in sectors where scale and contract stability can make them attractive acquisition targets.

The move is the latest in a pattern of London-listed groups being bought out, raising fresh concerns about the health of the UK equity market and its ability to retain home-grown businesses as public companies. For Mitie investors, the offer price marks a substantial uplift on the previous day’s valuation, giving shareholders an immediate cash exit if the deal is completed.

This article is based on a monitored public feed and summarizes the information provided by The Guardian Business.

Source: The Guardian Business - https://www.theguardian.com/business/2026/jul/21/mitie-takeover-ocs-london-stock-market-uk-government-contractor