A consortium led by KKR and Energy Capital Partners raised its takeover offer for Irish energy distributor DCC Plc to £5.81 billion ($7.9 billion). The revised proposal values DCC at up to £67.97 per share. This marks the second time the group has sweetened its bid to secure the deal.
The new offer includes a contingent payment of up to £1.25 per share. This payout depends on DCC achieving a sale price of at least $800 million for its Nexora technology division.
The adjustment follows opposition from major shareholders regarding a previous bid. DCC’s board had previously indicated it was prepared to recommend the prior offer. The Irish Takeover Panel extended the deadline for a firm offer to July 27.