Irish energy distributor DCC is close to accepting a £5.7 billion ($7.64 billion, approximately €6.6 billion) takeover proposal from a consortium of KKR and Energy Capital Partners despite shareholder pushback, as reported by Reuters, citing a Bloomberg News report.

The revised proposal comprises £65.25 in cash per share and a proposed final dividend of £1.47, totalling £66.72 per share, representing a 15% increase on the consortium's first proposal and a 33% premium to DCC's average share price before the initial approach on 28 April.

DCC's board said in June that, having carefully evaluated the revised proposal together with its advisers, it considered the financial terms to be at a level it would be minded to recommend to shareholders should a firm intention to make an offer be announced by the consortium.

The consortium is pushing ahead with its existing offer ahead of a Wednesday deadline, with DCC's board close to a final sign-off. Under UK Takeover Panel rules, the consortium has until 15 July to make a firm offer for DCC or walk away.

Two of DCC's largest investors, Aviva Investors and Fidelity International, have previously opposed the deal, saying the buyout firms were undervaluing the company. London-listed DCC and KKR declined to comment on the report, while Energy Capital did not immediately respond to a request for comment.

DCC rejected a previous £4.95 billion takeover proposal from the consortium in April, saying at the time that it undervalued the company.

DCC distributes liquid gas, biofuels and renewable energy to businesses and households across multiple international markets. The company has operated as one of Europe's largest fuel and energy distribution businesses, with operations spanning the UK, Ireland and continental Europe.

Buyers have paid a roughly 35% premium on average for UK-listed companies in 2026, according to data compiled by Bloomberg, placing the DCC deal broadly in line with prevailing acquisition valuations across the London market.

If completed, the transaction would represent one of the largest private equity acquisitions of an Irish-headquartered company in recent years, consolidating a major fuel and energy distribution network under long-term institutional ownership at a critical point in Europe's energy transition.