Renewi - Potential offer at 775p, small chance of success
Macquarie Asset Management made an all-cash proposal to Renewi at 775p per share (~EUR 8.93 p/s)Renewi's Board immediately rejected the bid stating it significantly undervalues the company and urges its investors to stay putMacquarie is willing to negotiate but seems to try and gain support from the street by making the proposal publicRenewi issued a second press release late last night announcing among others the strategic evaluation of the UK municipal businessWe believe this is a big positive for the Renewi story as an outside party has validated the value that lies within. At the current offer price, we doRenewi is a recycling companies. Co. operates in four divisions: commercial, which is engaged in sorting and recycling for, amongst others things, paper, cardboard, wood, plastics, metals and Construction and Demolition waste; hazardous, which is engaged in treating contaminated soil and water, as well as for the disposal of a range of hazardous waste such as waste paints and solvents; municipal, which operates waste treatment facilities for U.K. and Canadian city and county councils under long-term contracts; and monostreams, which produce materials from waste streams in specific end markets such as glass, electrical and electronic equipment, organics and minerals.
We are an investment house with Belgian roots founded on more than 150 years of trust.
As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.