DCC plc

Several major deals were reported this week across sectors. KKR is close to a deal to take medical-device outsourcer Integer Holdings private, sending its shares up 20%. Intercontinental Exchange agreed to acquire fixed-income electronic trading platform MarketAxess Holdings in a transaction valuing its equity at roughly $6.0 billion and total enterprise at $5.7 billion. Grant Thornton Advisors agreed to buy professional services firm CBIZ in an all-cash deal with a $5 billion enterprise value, backed by New Mountain Capital. Koch Inc. is exploring a sale of data center developer Edged that could value it at more than $15 billion. KKR and Energy Capital Partners agreed to acquire Ireland-based energy distributor DCC Energy in a deal valued at about £5.7 billion, with shareholders receiving £65.25 per share in cash plus a final dividend and a potential contingent payment. TransDigm Group agreed to acquire Prince & Izant from Industrial Growth Partners for approximately $1.066 billion in cash. argenx SE will acquire Forte Biosciences for $77 per share in cash, a transaction valued at roughly $2.2 billion, adding a first-in-class anti-CD122 antibody to its immunology portfolio. Ambarella shares surged 19% on a report that NXP Semiconductors is in talks to acquire the chip designer, though a deal is not certain. Curium is in advanced talks to buy radiopharma company Lantheus Holdings for about $102 per share upfront plus $12.50 per share in contingent value rights.

DCC Energy has agreed to a recommended takeover by Dragon Bidco Limited, a company indirectly owned by funds advised by KKR and Energy Capital Partners, in a deal valuing the company at about £5.75 billion. Under the terms, DCC shareholders will receive 6,525 pence per share in cash plus a 147.22 pence final dividend, representing a 24% premium to the undisturbed closing share price of 5,380 pence. Shareholders may also receive up to an additional 125 pence per share if DCC completes the sale of its Nexora technology business by July 31, 2027. The DCC board unanimously recommended the offer, citing attractive value and cash certainty, and the acquisition is expected to complete in the first quarter of 2027 subject to approvals.

Eli Lilly has agreed to acquire psychedelic drugmaker AtaiBeckley for $6.75 per share in upfront cash, valuing the deal at approximately $2.8 billion, plus up to $2.50 per share in contingent value rights tied to clinical and regulatory milestones. In other notable deals this week, Dassault Systèmes is in discussions to acquire drug trial software maker ArisGlobal from Nordic Capital for about $2 billion, though talks are ongoing and may not result in a deal. ABB Ltd. agreed to acquire Rotork for £5.03 per share in cash, a 60% premium to the company's three-month average share price, valuing the company at about £4.1 billion. A consortium led by KKR and Energy Capital Partners raised its takeover proposal for Irish energy distributor DCC to £67.97 per share, valuing the company at £5.81 billion, or approximately $7.86 billion. Stripe and Advent International have reportedly made a joint offer to acquire PayPal for $60.50 per share, in a deal that would value the payments company at more than $53 billion, though PayPal's board views the bid as inadequate. Uber Technologies launched a public takeover offer for Germany's Delivery Hero, valuing the food delivery company at about $14.8 billion in equity value. Kimbell Royalty Partners agreed to acquire oil and gas royalty interests from affiliated sellers for approximately $215.4 million, consisting of $74.9 million in cash and 9.5 million newly issued common units. Zoetis announced an agreement to acquire VitalRADS, a Texas-based provider of veterinary imaging services.

A consortium led by KKR and Energy Capital Partners has raised its takeover proposal for Irish energy distributor DCC to £67.97 per share, valuing the company at £5.81 billion. The revised offer includes £65.25 per share in cash, a £1.47 per share final dividend, and up to £1.25 per share tied to Nexora sale proceeds. DCC said the Irish takeover panel extended the consortium’s firm offer deadline to July 27, with due diligence complete and deal terms largely agreed, though the company has not yet recommended the revised proposal to shareholders. The improved offer follows DCC’s rejection of a £4.95 billion bid in April as undervaluing the company. DCC had reportedly indicated support for the June offer, but two of its largest investors, Aviva Investors and Fidelity International, opposed the deal.

Dimensional Fund Advisors Ltd. disclosed a 1.93% interest in DCC PLC, holding 1,645,714 ordinary shares as of 03 July 2026. The disclosure was made under Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules, 2022. On the same date, Dimensional purchased an additional 12,344 shares at a price of 61.3738 GBP per share.