The agreed proposal improves on prior bids and follows earlier offers some major shareholders believed undervalued DCC Energy.

The deal is a higher offer, trading at a significant premium to DCC Energy’s recent levels, with the stock up about 38% over six months.

This follows an initial 5,800 pence per share bid in April that DCC Energy rejected as undervaluing the company; the consortium raised it to 6,525 pence per share in June and the offer was formally recommended.

The acquisition is to be implemented via a court-approved scheme of arrangement and is expected to close in the first quarter of 2027, subject to approvals.

KKR shares had risen 3.53% to $99.36 on the prior trading day.

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DCC Energy, headquartered in Dublin and part of the FTSE 100, would become privately owned under the new consortium, with the strategy and 2030 ambitions moving under private ownership.

DCC’s stock traded modestly higher around £63.60 in response to the news.

Nexora is noted as a technology business, with conditions tied to its sale that could trigger additional consideration.

The takeover values DCC Energy at about £5.75 billion, at up to 6,796.22p per share in cash and dividend payments.

The deal fits a broader FTSE trend of going private, with Mitie, Rotork, Intertek, Tate & Lyle, Beazley and Evoke cited, and easyJet mentioned as a potential target.

An additional up to £1.25 per share payment upon sale of DCC’s Nexora technology division could total at least $800 million (£600 million) to sweeten the offer.