The US private equity consortium circling DCC has agreed to increase its bid by as much as 1.9 per cent – or £106.8 million (€126 milion) – if the group achieves at least $800 million (€697.6 million) from a subsequent sale of its remaining technology division. Energy Capital Partners and KKR’s total proposal now stands at £67.97 per share – or £5.8 billion – in total, including the payment of a £1.47 dividend that had already been proposed by DCC and due to be voted on at an annual general meeting (agm) on Thursday. The Irish Takeover Panel has granted the consortium a further extension on a deadline to submit a formal bid – or a firm intention to do so – until 5pm on July 27th. DCC, led by chief executive Donal Murphy, said “confirmatory due diligence has been completed and definitive transaction documentation has been substantially agreed”, except for elements around proceeds from the sale of the technology business, known as Nexora. “The precise terms of the Nexora proceeds adjustment are still to be agreed between the parties and will be subject to discussions with the Irish Takeover Panel,” it said.