MITIE Group PLC (LSE:MTO) agreed to a ~£3.1bn takeover by OCS valuing shares up to 221.6p (a ~45–47% premium) after Q1 revenue rose 10% and shares jumped ~39%; the deal, needing shareholder, regulatory and court approvals, pauses a £100m buyback amid activist holding by Schroders.
Previous Week Recap
- Mitie Buyout By OCS: Mitie (MTO) agreed to be bought by OCS for ~£3.1bn, shareholders to get up to 221.6p/share. Deal implies ~45–47% premium. Completion expected Q1 2027; shares jumped ~38.8%.
- Mitie Q1 FY27 Revenue Growth: Mitie (MTO) Q1 FY27 revenue £1.41bn, +10% y/y. Business Services +23%, Technical Services -5%. Organic growth 4% from new contracts, pricing; 6% boost from Marlowe acquisition.
- Mitie Suspends Buyback Programme: MITIE Group PLC announced the immediate suspension of its £100 million share buyback programme, confirming the company will halt repurchases that had been planned under that buyback authorization.
- Mitie Deal Requires Approvals: MITIE Group (MTO) deal needs shareholder approval (min 75% by value), regulatory clearances (CMA, EU/UK competition, NSIA if needed), court sanction and usual conditions; completion expected Q1 2027.
- Schroders Discloses Mitie Shares: Schroders filed an 8.3 on 23 July 2026 disclosing 481,463 MITIE Group PLC (MTO) shares with no discretionary voting, and no stock‑settled derivatives, subscription rights or other arrangements.
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