Drax Bidco to acquire HEIT

Drax Bidco has agreed to acquire HEIT in a strategic acquisition. The transaction involves a cash consideration structure and targets a company based in Great Britain. The deal was announced on 30 May 2025. No specific financial value was disclosed for the transaction. The target operates within an unspecified sector at the time of the announcement.

The transaction has since been abandoned. No completion date was recorded before the deal was terminated. Regulatory approval was never sought as the parties did not proceed to finalise the agreement. The status remains concluded without a completed exchange of ownership. This outcome leaves the management team of HEIT without a new owner following the failed negotiations. The parties have not provided further details regarding the reasons for the termination of the process.