Two funds disclose sizeable Bodycote stakes under Takeover Code rules

what happened

Bodycote PLC published two Form 8.3 disclosures, which holders of 1% or more of a company involved in a takeover must file under the UK Takeover Code. Both were released through the London Stock Exchange's RNS service and relate to positions held as of 16 October 2026.

NFU Mutual Insurance Society reported holding 2,530,278 Bodycote ordinary shares, equal to 1.487%. On the same date it sold 154,000 shares at 910 pence each.

Capula Investment Management reported 2,139,300 shares, or 1.25%, through cash-settled derivatives. It also increased a long position by 311,200 reference shares via an equity swap at 910.00 pence.

why it matters

Filings of this kind are mandatory for significant holders in a company that is the subject of an offer, so they do not by themselves reveal new deal terms. For markets, the useful signal is that large investors are adding to or trimming their Bodycote exposure at the same price level, which shows up in trading volumes and share price moves.

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