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MTO

-1.77%
NEUTRAL

Mitie Announces Recommended Acquisition of Marlowe PLC

Why we think this is neutral

This RNS announcement is regarding a recommended cash and share offer for Marlowe PLC by Mitie Group PLC, which is an M&A news type that does not fall under the mandatory news types specified. As a result, the sentiment score is set to 'NEUTRAL'.

Key Points

  • Mitie to acquire Marlowe PLC in a recommended cash and share offer
  • Offer values Marlowe at approximately £366 million
  • Marlowe shareholders to receive 290 pence in cash and 1.1 New Mitie Shares per Marlowe Share
  • Marlowe Directors unanimously recommend the Scheme to shareholders

Summary

The facilities management company Mitie has announced a recommended cash and share offer to acquire Marlowe PLC, a leading testing, inspection and certification service provider.

Mitie Group PLC has announced a recommended cash and share offer to acquire the entire issued and to be issued ordinary share capital of Marlowe PLC. Under the terms of the Acquisition, each Marlowe Shareholder will be entitled to receive 290 pence in cash and 1.1 New Mitie Shares per Marlowe Share. The Acquisition values Marlowe at approximately £366 million and represents a premium of 26.5% to Marlowe's closing share price on 3 June 2025. The Marlowe Directors intend to unanimously recommend that Marlowe Shareholders vote in favor of the Scheme.

Key Dates

Early Q3 2025
Expected Effective Date of the Scheme
GENERAL UPDATE