The London Stock Exchange (LSE) is experiencing a sustained period of corporate departures as three more companies have agreed to takeover offers. This latest development brings the total value of firms exiting the London market through acquisitions in 2024 to over $100 billion (£74 billion).

Among the latest departures is the FTSE 250 industrial group Bodycote, which has been publicly traded since 1972. The Macclesfield-based firm, known for its heat treatment and metal coating services, accepted a £1.84 billion takeover bid from the US-based private equity firm Veritas. The agreement followed a competitive bidding process that included interest from the European buyout firm CVC.

Market observers note that these takeovers are part of a broader trend where London-listed companies are being acquired by private equity groups or foreign entities, often citing undervalued share prices as a primary driver. While the influx of capital from these deals provides immediate returns for shareholders, it raises questions about the long-term health and depth of the London market as a destination for public listings.