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Evening Standard
Evening Standard
National
Holly Williams

Bodycote shares fall as US suitor Apollo ditches £1.5bn bid interest

Bodycote Apollo United States Apollo Global Management Macclesfield
Shares in UK heat treatment specialist Bodycote have slumped after US investment firm Apollo Global Management walked away from a £1.5 billion proposed takeover (Alamy/PA) -

Shares in UK heat treatment specialist Bodycote have slumped after US investment firm Apollo Global Management walked away from a £1.5 billion proposed takeover.

Macclesfield-based Bodycote said late last month it had received a conditional all-cash takeover approach from Apollo worth 885p a share, which sent the stock surging by nearly a fifth on the day.

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