Aggreko looks set to become the latest British business to fall into the hands of private equity after the board of the mobile power specialist recommended a £2.3bn bid.

Management, led by chairman Ken Hanna, said the offer of 880p a share from a consortium of I Squared of the US and TDR Capital of the UK was “an attractive price in cash that fairly recognises Aggreko’s future prospects”.

If the deal is agreed by shareholders, the company will join the growing list of UK-listed businesses taken private.

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Source: Financial Times

By Sylvia Pfeifer and Oliver Ralph