Bodycote (LSE:BOY) shares plunged 9.4% to 746p after Apollo told the company it does not intend to make a firm offer.
Accordingly, it is no longer in an offer period.
The Bodycode board said it has "strong confidence in Bodycote's potential and its strategy to create a high-performing, resilient business with attractive growth prospects".
It intends to continue to execute its "Optimise, Perform and Grow" initiatives, and told investors it has seen a positive start to 2026 trading, as it previously set out in the 27 May AGM trading update.
