Mitie Group PLC - The Shard, London-based engineering, security, cleaning and hygiene services provider - Says DBRS Morningstar on Friday confirmed its BBB investment grade rating for Mitie remaining unchanged as a result of the proposed acquisition of Marlowe PLC, a London-based provider of software and services for safety and regulatory compliance. Mitie in early June announced its plan to buy Marlowe in a deal valuing the latter at £366 million. Separately, Mitie announces that it received confirmation from Ireland’s Department of Enterprise, Trade & Employment that its planned acquisition of Marlowe does not require mandatory notification under a law enacted in 2023. Completion of the takeover remains subject to the satisfaction and waiver of remaining conditions, such as the receipt of clearance via the UK’s National Security & Investment Act 2021. Mitie expects its takeover of Marlowe to complete in the third quarter of 2025.
Current Mitie stock price: 140.80 pence each, up 0.3% on Wednesday morning in London
12-month change: up 21%
Current Marlowe stock price: 442.00 pence each, flat
12-month change: up 91%
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