UK’s Ashtead Technology soars on $675 million takeover by PE Ember
Yesterday 08:20
BUZZ-UK’s Ashtead Technology soars on $675 million takeover by PE Ember
** Shares of British subsea technology firm Ashtead Technology ATAS.L rise 15% to 609p
** Shares touch highest since January 2025
** Co agrees to a takeover by private equity firm Ember Infrastructure Management
** Ember to pay 615 pence in cash for each Ashtead share, valuing co at about £505 million ($675.44 million)
** Ashtead Technology Board unanimously recommends the deal to shareholders & directors
** Deal to be effective by late Q4 2026 or early Q1 2027
** So far this year, ATAS has gained ~71%
($1 = 0.7477 pounds)
(Reporting by Anushka Chourasia in Bengaluru)