DCC (LON:DCC) £67.97 Bid Leaves New Buyers With a 4.4% Maximum Spread
DCC plc received a takeover proposal worth up to £67.9722 a share, but an investor buying the stock now would be eligible for no more than £66.50. The difference is DCC’s 147.22-pence final dividend, which is awaiting shareholder approval but stopped trading with the shares on May 28. At 6,370 pence, the maximum gross deal spread, the gap between the market price and offer value, is therefore about 4.4% for a new buyer, against 6.7% on the published package.