UK’s Ashtead Technology soars on $675 million takeover by PE Ember

By Reuters News

** Shares of British subsea technology firm Ashtead Technology ATAS.L rise 15% to 609p

** Shares touch highest since January 2025

** Co agrees to a takeover by private equity firm Ember Infrastructure Management

** Ember to pay 615 pence in cash for each Ashtead share, valuing co at about £505 million ($675.44 million)

** Ashtead Technology Board unanimously recommends the deal to shareholders & directors

** Deal to be effective by late Q4 2026 or early Q1 2027

** So far this year, ATAS has gained ~71%

($1 = 0.7477 pounds)

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