London Stock Exchange set to lose three more companies to takeovers

The London Stock Exchange is facing renewed pressure after three more listed companies agreed to takeover deals announced on Tuesday.

Bodycote, a FTSE 250 industrials group listed in London since 1972, agreed to a £1.84bn takeover by US private equity firm Veritas. The Macclesfield-based company, which provides heat treatment, metal joining and protective coating services for manufacturers, had been the target of a bidding contest between Veritas and rival European buyout group CVC. Veritas said that as a private company, Bodycote would gain greater flexibility to pursue long-term investment and growth.

Separately, telecoms firm Gamma Communications recommended a £1.1bn offer from UK private equity group Epiris, just days after revealing it had also been in takeover talks with European buyout firm Waterland. Epiris had first signalled interest in June, saying a private ownership structure would let Gamma invest more and focus on sustainable long-term growth.

Scottish energy company Capricorn is also set to leave the FTSE all-share after 38 years, having struck a $396m deal with Norwegian rival DNO. Capricorn had previously backed an offer from Genel Energy but switched its recommendation after DNO tabled a higher bid.

The three deals add to a wave of departures from the London market this year, with the total value of companies taken private now approaching $110bn, according to data compiled by Bloomberg. Other major deals in 2026 include the £5.7bn takeover of easyJet by Apollo, the £14bn acquisition of warehouse landlord Segro by Prologis, the £1.6bn sale of ITV's broadcasting and streaming arm to Comcast, and the earlier £9.9bn takeover of asset manager Schroders. Additional exits this year have included lab testing group Intertek, bought by a consortium led by EQT for £10bn, and insurer Beazley, which agreed an £8bn deal with Zurich.