Inspecs Group (SPEC): Offer for the company
This situation live
SPEC Inspecs Group
17 Mar 2026 · Offer unconditional; open for further acceptances · +0% until the next step
Now that the Takeover Offer has been declared unconditional, provided that sufficient acceptances are received, Bidco intends to exercise its rights to apply the provisions of Chapter 3 of Part 28 of
24 Mar 2026 · Unconditional; open; 58.1% counted · +1% until the next step
Now that the Takeover Offer has been declared unconditional, provided that sufficient acceptances are received, Bidco intends to exercise its rights to apply the provisions of Chapter 3 of Part 28 of
13 May 2026 · Unconditional; closing date set for 15 May · +0% until the next step
On 1 May 2026, Bidco declared that the Offer will close for acceptance at 6.00p.m. on 15 May 2026.
18 May 2026 · Offer closed; Bidco holds 68.5% · +15% until the next step
Bidco holds 69,620,565 Inspecs Shares, representing approximately 68.5 per cent. of the existing issued share capital of Inspecs.
18 May 2026 · Offer closed; Bidco holds 68.5%; board changes announced · +15% until the next step
culminating in the recommended offer from Bidco 1125 Limited which closed on 15 May, 2026.
10 Sep 2026 · Offer unconditional since March; Bidco majority holder · −6% since
The offer by Bidco 1125 Limited became unconditional on 12 March 2026
Offer for the company
Offer unconditional since March; Bidco majority holder
Next: not stated
Every step · 6
- 17 Mar 2026 Offer unconditional; open for further acceptances – Now that the Takeover Offer has been declared unconditional, provided that sufficient acceptances are received, Bidco intends to exercise its rights to... ↗
- 24 Mar 2026 Unconditional; open; 58.1% counted – Now that the Takeover Offer has been declared unconditional, provided that sufficient acceptances are received, Bidco intends to exercise its rights to... ↗
- 13 May 2026 Unconditional; closing date set for 15 May – On 1 May 2026, Bidco declared that the Offer will close for acceptance at 6.00p.m. on 15 May 2026. ↗
- 18 May 2026 Offer closed; Bidco holds 68.5% – Bidco holds 69,620,565 Inspecs Shares, representing approximately 68.5 per cent. of the existing issued share capital of Inspecs. ↗
- 18 May 2026 Offer closed; Bidco holds 68.5%; board changes announced – culminating in the recommended offer from Bidco 1125 Limited which closed on 15 May, 2026. ↗
- 10 Sep 2026 Offer unconditional since March; Bidco majority holder – The offer by Bidco 1125 Limited became unconditional on 12 March 2026 ↗
What is happening
Inspecs Group: Offer for the company – Offer unconditional since March; Bidco majority holder. ['Offer unconditional since March; Bidco majority holder']
- In short
- Bidco 1125 (the Consortium) agreed a recommended 84p cash offer on 10 Dec 2025, switched to a takeover offer on 20 Feb 2026, and the offer closed on 15 May 2026 with Bidco holding about 68.5%. The interims restate that the offer became unconditional on 12 March 2026 and report £2.2m of offer-related fees in H1. No squeeze-out update.
- Announced
- 17 Mar 2026 · Offer unconditional; open for further acceptances
- Latest
- 10 Sep 2026 · Offer unconditional since March; Bidco majority holder
- Irrevocables
- 31,362,712 of 32,434,773 accepted; 1,072,061 delayed by nominee clerical issues
- Next milestone
- Not stated; compulsory acquisition not addressed
- Timetable
- Closing declared on 1 May 2026; offer closes at 6.00p.m. on 15 May 2026
- Closed
- Offer closed for acceptance at 6.00 p.m. on 15 May 2026
- Bidco holding
- About 68.5% of issued share capital after closing
- Offer
- 84p cash takeover offer from Bidco 1125 Limited, closed 15 May 2026
- Board change
- Interim Chair Christopher Hancock to step down at June 2026 AGM; Robin Totterman resumes as Executive Chair immediately after
- Offer costs
- £2.2m professional fees and transaction costs in H1 2026
What comes next
not stated.
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