Aggreko PLC’s (LON:AGK) takeover is reportedly to be opposed by the company's biggest shareholder.
Liontrust Asset Management, which holds a 12% stake in the temporary power supply company, intends to vote against the £2.3bn offer from private equity groups TDR and I Squared.
The deal, priced at 880p per share, was recommended by the FTSE 250 group’s board in early March.
As well as Liontrust, Sky News reported that a number of other shareholders are understood to have doubts about the price of the deal.
Structured as a scheme of arrangement, the deal requires the backing of 75% of shareholders to be passed.