Aim-listed tech company agrees huge takeover deal

Ashtead Technology is set to become the latest company picked off the London Stock Exchange after agreeing to a £505m takeover by a New-York based private equity firm. Ember Infrastructure Management agreed to pay 615p per share in cash for the underwater technology firm. This represents a staggering 80.9 per cent premium on Ashtead’s closing share price of 340p on 22 September. The group’s board considered the acquisition to be “fair and reasonable and a “compelling opportunity” for shareholders. The board plans to vote their own shares in favour. It recommended shareholders vote in favour of the deal, which is anticipated to be completed in the fourth quarter of 2026 or early next year. Ember s appeal Bill Shannon, chairman of Ashtead Technology, said “In recent years, Ashtead Technology has demonstrated resilience despite a challenging market and geopolitical backdrop.” The board believes that the acquisition… provides shareholders with a compelling opportuni