$ICG

Irish Continental Group (ICG) faces shareholder objections to a management-led buyout. The board agreed an MBO valuing ICG at €1.2 billion, or €8 per share, a 28% premium. Chief executive Eamonn Rothwell and senior managers hold 23.7%. Oxy Capital and others claim the bid undervalues the ferry operator by up to 39% and cite timing and earnings concerns. ICG said it values the deal at 9.8x 2025 EBITDA.

Sharecast reports FTSE 100 movers. Pharmaceutical and tobacco stocks fell, with GSK, AstraZeneca, BAT and Imperial Brands among the weakest. Gains included Experian, Sage Group and Relx, linked to a Reuters report on Silver Lake talks to buy Workday. IG Group rose after RBC reiterated ‘outperform’ and kept a 1,850p target, citing oversold shares post Underdog acquisition.

Irish Continental Group (ICG) faces opposition from major shareholders to a planned management buyout led by CEO Eamonn Rothwell. The €1.2bn deal values ICG at €8/share, a 28.2% premium, and ICG cites 9.8x 2025 EBITDA. Dissenters cite route disruption, net debt (€256m end-2025), and timing of an Aug 28 EGM.

The article reviews major Irish corporate deal activity. Flutter (owner of Paddy Power and Betfair) will cancel its London listing on Aug 3 after shifting primary listing to New York. DCC agreed a £5.75bn KKR/Energy Capital takeover at £65.25 per share. ICG (Irish Ferries) will be taken private via a €1.2bn management buyout at €8 per share. PTSB sold to BAWAG for €1.6bn. Fin (Intercom) agreed a $3.6bn sale to Salesforce.

Bluefin Bidco Limited and the independent directors of Irish Continental Group, plc (ICG) announced further irrevocable undertakings under Ireland’s Takeover Rules for a recommended cash offer for all ICG shares via a High Court scheme. New undertakings cover 1,017,409 ICG shares (with 767,893 excluded). Total undertakings now cover 5.7% to 6.3% depending on resolutions.

World stocks rose as Middle East hopes and US progress on opening the Strait of Hormuz supported risk sentiment. Investors weighed SpaceX’s first-quarter results and Musk’s AI spending comments. In Ireland, AIB, Bank of Ireland, Origin Enterprises and Ryanair gained. ICG outlined Bluefin BidCo’s €8 per share offer. Glencore, Next, AstraZeneca, Novo Nordisk, Heineken, Disney, Eli Lilly and Uber also moved on earnings or guidance.

Irish Continental Group (ICG), parent of Irish Ferries, agreed to a recommended management buyout valuing the company at about €1.2 billion. A consortium led by CEO Eamonn Rothwell and three senior executives will pay €8.00 per share in cash, a 28.2% premium to ICG’s 24 July close. ICG’s board unanimously recommended the deal; it needs shareholder, regulatory, and Irish High Court approval, with completion expected in Q4 2026.

Irish Continental Group (ICG) CEO Eamonn Rothwell is preparing to proceed with the Bluefin Bidco takeover of ferry operator Irish Ferries, after Bluefin launched a €1.21 billion bid. The management buyout values ICG at a 25% premium, with €455m preferred equity from BlackRock and €798m loans from BNP Paribas and Banco Santander.

Bluefin Bidco Limited received an additional irrevocable undertaking from John Gallagher to vote for the recommended cash offer for Irish Continental Group, plc via a High Court scheme of arrangement. The undertaking covers 3,594,264 ICG shares (~2.4%). Total irrevocable undertakings now cover 8,397,014 shares (~5.7%).

The article says several Irish and UK listed firms are being taken private. It cites Inter Continental Group (ICG) buyout by management, DCC Energy delisting after a £5.75bn takeover by KKR and Energy Capital Partners, and PTSB’s €1.2bn acquisition by BAWAG pending a vote. It also mentions Easyjet talks with Apollo and Intertek’s June deal with EQT, linking the trend to private funding and fewer new listings.