DCC rejects £5bn takeover bid from KKR and Energy Capital

dcc, the ftse 100 energy group, rejected a £5bn takeover bid from kkr and energy capital. the board said the offer "fundamentally undervalues" the business. the private equity firms had tabled a cash bid for the dublin-based company, which distributes energy products across europe and the us. dcc's shares rose on the news of the approach, but the company's statement made clear it saw no reason to engage. no further bids have been disclosed.