Altrad Investment acquired Cape for 414m.

French construction equipment maker Altrad Investment acquired UK oil services company Cape for 414m. Altrad’s offer for 265 pence per Cape share represents a premium of 46.2% to the stock’s closing price of 181.25 pence on Thursday. The merger would create a “multidisciplinary” industrial services company operating in a wider range of markets, Altrad said in a statement.