Story perspectives

RHI Magnesita Makes 551p Takeover Offer for Vesuvius

By Drooid · Sep 30, 2026, 2:19 AM UTC · How we work

Summary

Story summary

RHI Magnesita N.V. has submitted a cash-and-share takeover proposal for Vesuvius plc.
The offer values Vesuvius shares at 551 pence: 470 pence cash and 0.28 RHI shares per 10.
Cevian Capital II Master Fund, a 23% Vesuvius shareholder, pledged irrevocable support for a recommended offer.
RHI must announce a firm offer or withdraw by 5 p.m. London time on 27 October 2026.
The board advises shareholders to take no action for now.

History

Historical Context

In 2005 Carlyle Group leveraged £1.2 billion to take Vesuvius plc, a London-listed refractory specialist, private, paying a 45% premium and winning backing from about 30% of shareholders. The deal followed the early-2000s resurgence of large LBOs after the dot-com crash, exemplified by Carlyle’s 2005 Hertz acquisition. Today RHI Magnesita’s cash-and-share offer, supported by Cevian Capital, revives that consolidation wave and draws regulator attention to cross-border competition.

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Story summary

RHI Magnesita N.V. has submitted a cash-and-share takeover proposal for Vesuvius plc.
The offer values Vesuvius shares at 551 pence: 470 pence cash and 0.28 RHI shares per 10.
Cevian Capital II Master Fund, a 23% Vesuvius shareholder, pledged irrevocable support for a recommended offer.
RHI must announce a firm offer or withdraw by 5 p.m. London time on 27 October 2026.
The board advises shareholders to take no action for now.

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