Mitie FY25 results

Mitie announced reasonable results alongside an acquisition of Marlow(MRL) for £366m in a part cash(2/3), part shares(1/3) offer. The initial market reaction was quite disappointing with Mitie losing about £300m in market cap. I suspect the share reaction is a combination of the lack of clarity on the rationale for the acquisition and something within the results. I am yet to see the analyst webcast to form a firmer opinion, but it seems like an overreaction on first glance.