CVC Drops Bodycote Bid for Veritas
Private equity firm CVC Advisers has abandoned its pursuit of Bodycote. This decision leaves the field open for Veritas Capital to proceed with its multi-billion-dollar takeover of the British thermal processing group.
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CVC Advisers dropped its pursuit of BODYCOTE PLC on Monday morning, clearing the path for Veritas Capital's $2.45 billion takeover. The decision ends a bidding contest in the United Kingdom following rival proposals submitted earlier in August. Investors now look toward the final shareholder vote to complete the transaction.
