DCC, one of the FTSE 100's largest energy firms, has agreed to a £5.75bn takeover by US private equity groups KKR and Energy Capital Partners, despite objections from its founder and biggest shareholders. The deal marks the latest in a wave of London Stock Exchange departures, following similar moves by Mitie, Tate & Lyle and Evoke, and comes as easyJet also faces a possible private equity offer, deepening concerns over the exodus of listed companies from the UK market.

DCC's board recommended the offer of £65.25 a share in cash, with a potential £1.25 sweetener tied to the sale price of its technology arm, Nexora — a total 36% premium on the company's average share price over the prior three months. Founder Jim Flavin, who remains a major shareholder, said he was "astounded" by the board's decision and branded the price "totally inadequate", while Aviva Investors and Fidelity, also significant shareholders, have voiced opposition. Aviva's Matt Bennison said the deal would be a "bad outcome for shareholders", though DCC's board maintains the offer gives investors a "compelling and certain opportunity" to realise value; shares rose just over 1% to £63.60 following the announcement.