Deal: TClarke received a 160 pence per share offer from Regent Acquisitions
A 135-YEAR-OLD building contractor is the latest to join the exodus from the London stock market after backing a £90m takeover bid.
T Clarke, founded in 1889, received an offer of 160 pence per share from Regent Acquisitions.
Company directors recommended the deal and criticized the London market for consistently undervaluing the business. T Clarke, which provides electrical and mechanical services, employs more than 1,000 people in the UK and made revenues of £491m and profits of £9.4m in 2023.
Based in west London, Regent supplies gas and metering services to industrial and commercial customers across the UK. His boss, Deep Valecha, said: “I am excited about the opportunities this new chapter presents for T Clarke.”