DCC Energy has agreed a £5.75bn takeover from private equity firm KKR, and Energy Capital Partners.

The deal is worth up to 6,796.22p in cash and dividend payments.

Two approaches were previously rejected and the latest bid marks a slight improvement on the £5.7bn proposal put forward last month.

DCC’s board said: “Following a robust and lengthy negotiation with the consortium, the DCC Energy board considers that the acquisition provides shareholders with an attractive premium, cash certainty and value at a level above that which DCC Energy has been able to achieve consistently in the public markets.”

DCC joins an ever-growing list of FTSE companies to have been bought and taken private in recent months, with Mitie, Rotork, Intertek, Tate & Lyle, William Hill owner Evoke and Beazley having all agreed to deals that take them private this year.

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