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DCC Rejects $4.95B Bid, Analysts See Undervalued Energy Play
Description
DCC, the Irish conglomerate, rejected a takeover bid from ECP and KKR, valuing the company at under £58 per share. The company, focusing on its energy business, is seen as underappreciated by analysts, who predict a re-rating and higher stock values due to its simplification and green energy push. DCC has sold off various divisions over the past decade, with the last tech piece up for grabs by years end. With bid talk heating up and targets pushing past £6 billion, DCCs management may cash out or force the market to recognize the potential of its energy play.
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