UK SERVICES player Cape is set to make an exit from the London Stock Exchange after its board recommended a $430 million takeover approach from a private French company.
Altrad Investment Authority offered £2.65 ($3.42) per Cape share late last week, a 46.2% premium on the share price on 6 July and valuing Cape at £332.3 million ($430.6 million).
Cape chief executive Joe Oatley told Upstream that Altrad was the only company that approached Cape with regards to a takeover offer, as the services outfit was not being openly marketed.
