Following the £1 billion sale of DCC Healthcare, DCC plc is proposing to return up to £600 million to its shareholders through a tender offer process, subject to shareholder approval.

The Irish sales, marketing and support services conglomerate, founded in 1976 as a venture capital firm and listed in London, is undergoing a restructure announced last year to simplify its business.

It recently also completed the sale of its UK & Ireland tech business for £100m.

The firm intends to acquire up to 11,952,191 ordinary shares from shareholders, representing up to approximately 12.3% of its current issued share capital.

“All successfully tendered shares will be acquired at a single price which will reflect the level of demand from shareholders to sell some or all of their shares within a certain price range,” it said.