{"id":92049,"date":"2026-09-28T06:05:51","date_gmt":"2026-09-28T10:05:51","guid":{"rendered":"https:\/\/hedgeco.net\/news\/09\/2026\/cvc-dropped-its-bodycote-pursuit-clearing-the-path-for-veritas-capitals-about-2-5-billion-takeover.html"},"modified":"2026-09-28T06:05:51","modified_gmt":"2026-09-28T10:05:51","slug":"cvc-dropped-its-bodycote-pursuit-clearing-the-path-for-veritas-capitals-about-2-5-billion-takeover","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2026\/cvc-dropped-its-bodycote-pursuit-clearing-the-path-for-veritas-capitals-about-2-5-billion-takeover.html","title":{"rendered":"CVC Dropped Its Bodycote Pursuit, Clearing the Path for Veritas Capital&#8217;s About $2.5 Billion Takeover:"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2026\/09\/2026-09-28-cvc-hero.jpg\" alt=\"CVC Dropped Its Bodycote Pursuit, Clearing the Path for Veritas Capital&#x27;s About $2.5 Billion Takeover\" \/><\/p>\n<p>HedgeCo.Net \u2014 CVC Advisers Limited on September 28, 2026 issued a Takeover Code Rule 2.8 statement confirming it does not intend to make an offer for Bodycote plc, according to the Investegate RNS and Reuters. The walk-away clears the competitive path for Veritas Capital-backed Vulcan Alpha Bidco Limited, which earlier won Bodycote\u2019s board backing for a recommended cash acquisition.<\/p>\n<p>Reuters reported Veritas\u2019s sweetened bid at 940 pence a share and an enterprise value of about \u00a31.85 billion ($2.45 billion) including debt. Apollo had previously retreated from a lower approach, and coverage noted that CVC and Veritas had submitted near-identical proposals in August before Veritas moved ahead with Bodycote\u2019s recommendation.<\/p>\n<p>Bodycote provides heat-treatment and metal-processing services to aerospace, defence, automotive and energy customers. Under Rule 2.8, CVC is restricted for six months from making an offer, subject to the carve-outs stated in the RNS.<\/p>\n<p>For LPs and industrials M&#038;A desks tracking UK-listed auctions, the hard marks are CVC\u2019s September 28 Rule 2.8 statement, Veritas\u2019s recommended 940 pence cash offer, the roughly \u00a31.85 billion \/ $2.45 billion enterprise value including debt, and the six-month restriction with stated carve-outs. Do not invent bid timelines or Apollo terms beyond published coverage.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HedgeCo.Net \u2014 CVC Advisers Limited on September 28, 2026 issued a Takeover Code Rule 2.8 statement confirming it does not intend to make an offer for Bodycote plc, according to the\u2026 <a class=\"continue_reading_link btn btn-mini\" href=\"https:\/\/hedgeco.net\/news\/09\/2026\/cvc-dropped-its-bodycote-pursuit-clearing-the-path-for-veritas-capitals-about-2-5-billion-takeover.html\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":92048,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[16502,14537,16504,16505,16503],"class_list":["post-92049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-private-equity","tag-bodycote","tag-cvc","tag-rule-2-8","tag-uk-ma","tag-veritas-capital"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/92049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=92049"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/92049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media\/92048"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=92049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=92049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=92049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}