Calisen accepts £1.4bn takeover offer

The energy metering group Calisen has agreed to be taken private in a £1.4 billion deal ten months after listing in London.

The FTSE 250 group’s shares had been languishing well below the 240p price at which it floated in February with a valuation of £1.3 billion. It has now recommended a cash takeover offer at 261p a share from units of Black Rock, Goldman Sachs and the Abu Dhabi state fund Mubadala Investment Company.

The price is a 26.3 per cent premium to last night’s closing price.

Calisen remains more than 70 per cent controlled by the private equity group KKR, which has made irrevocable undertakings to vote in favour of the takeover at the agreed price. 

Read more on: The Times