Australia's FleetPartners jumps on higher bid from Element Fleet Management Corp

FleetPartners

10/08/2026 01:26

** Shares of Australia's FleetPartners FPR.AX rise as much as 11.5% to A$3.87, hitting their highest level since February 28, 2018
** Vehicle leasing firm rejects an A$3.60-per-share takeover proposal from SG Fleet Topco and says it's weighing a higher offer from Canada's Element Fleet Management Corp
** Element's A$3.80-per-share indicative proposal values the group at roughly A$803 million ($567.16 million), and represents an 9.5% premium to FPR's closing price on Friday
** Stock up over 35% YTD    
($1 = 1.4158 Australian dollars)

 (Reporting by Shruti Agarwal in Bengaluru)
 ((Shruti.Agarwal@thomsonreuters.com;))