Private investment major Apollo Global Management has abandoned its proposed £1.5bn takeover of London-listed Bodycote plc, marking another setback in the firm’s efforts to acquire listed UK industrial assets, according to a report by the Financial Times.
The US private equity group confirmed it will not proceed with a conditional offer of £8.85 per share, first announced last month, and said it does not intend to make a firm bid for the company at this stage.
Under UK takeover rules, Apollo is...
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