DORE agrees to takeover offer from Bagnall Energy for remaining shares

Takeover 'was inevitable'

Downing Renewables & Infrastructure (DORE) trust has agreed to a cash offer from Bagnall Energy for its entire issued and to be issued ordinary share capital that the Bagnall Group did not own.

In a stock exchange notice today (20 June), the cash offer – done through Polar Nimrod Topco, a wholly-owned subsidiary of Bagnall– represents a premium of approximately 23.6% to the closing price of 83p per DORE share as of 19 June 2025. The latest offer price stands at a discount of nearly 8.7% to DORE's net asset value as of 31 March 2025, pricing its total issued ordinary share capital at approximately £174.5m. However, the discount to the values as of 31 March does not account for the Q1 dividend. The adjusted discount to the unaudited NAV of DORE, considering the Q1 dividend, is...