Mitie Group shares surged 40% to 211 pence in opening trade after the U.K. outsourcing company agreed to be acquired by facilities management group OCS for up to £3.1 billion, equivalent to $4.16 billion. The deal represents a significant premium and marks a major consolidation in the outsourcing sector.

The cash offer of 218.5 pence per share, plus a final dividend of up to 3.1 pence for the year ended March 2026, totals 221.6 pence per share. This values the company at a 45% premium to Monday's closing price of 151 pence. Since the start of the year, Mitie shares have climbed 27%, reflecting growing investor confidence ahead of the announcement.

Mitie stated that the combined business would deliver better outcomes for consumers and offer greater opportunities for international expansion. The transaction is expected to be completed during the first quarter of 2027, subject to customary closing conditions including regulatory approvals and shareholder votes.