Industrial coatings company Bodycote revealed a double takeover swoop last night from two private equity firms, CVC and Veritas, valuing the business at around £1.6 billion.
Bodycote's board said it would be "minded to recommend" each should they result in a firm offer.
Competing buyout proposals
Amsterdam-listed CVC made an offer of 915p per share. CVC is known for buying investment platform Hargreaves Lansdown last year for £5.4 billion.
US buyout firm Veritas made a similar offer of up to 914p per share.
The update is likely to ring alarm bells that Bodycote could be the next company to quit the London stock market.
