- OCS to buy Mitie (MTO) for up to £3.1bn (~221.6p/share: 218.5p cash + 3.1p dividend), ~45% premium. Deal needs shareholder approval, expected to close Q1 2027; buyback paused.
- MITIE (MTO) targets £150m annual free cash flow by FY27, citing above-market revenue growth, margin expansion, better contract wins and improved client retention driving operational cash gains.
- 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 scheme.
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Key facts: OCS to buy Mitie for up to £3.1bn;£100m buyback paused, £150m FCF
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OCS to buy Mitie (MTO) for up to £3.1bn (~221.6p/share: 218.5p cash + 3.1p dividend), ~45% premium. Deal needs shareholder approval, expected to close Q1 2027; buyback paused.MITIE