Mitie, a facilities management group listed in London, has suspended its £100 million share buyback program.

The suspension comes amid a takeover offer from rival outsourcer OCS.

£100m share buyback

The amount of share repurchase program suspended by Mitie.

The takeover is valued at £3.1 billion, according to reports.

One source frames the development as an offer from OCS, while another reports that Mitie has agreed a £3.1bn takeover by OCS.

Mitie agrees £3.1bn takeover by rival outsourcer OCS.
— S2 (source reporting an agreement)

Mitie is a London-listed facilities management group.