The Dublin-based energy group DCC has agreed to a £5.75bn takeover by private equity firms KKR and Energy Capital Partners (a Bridgepoint unit), despite vocal opposition from some shareholders who believe the offer undervalues the business. This makes DCC the fifth FTSE 100 company to be acquired or agree to be acquired so far this year, continuing a trend of London-listed firms falling to private equity bidders with seemingly little response from Westminster.

Dissenting investors, including Fidelity International and Aviva Investors, argued DCC was executing well on its 2022 strategy to double operating profits to £830m by 2030, with about 35% of that growth already achieved. Fidelity's Alex Wright had said he wouldn't accept less than £70 a share, citing strong returns on capital and growth potential, but the board settled for £65.25 a share (up from an initial £58) after citing a shrinking, more concentrated shareholder register and difficulty attracting new investors. Chief executive Donal Murphy expects most shareholders will vote in favour of the deal.