UK's Renold hits 10-year high on US firm's $252.6 million takeover deal

Renold

13/06/2025 09:20

** Industrial machinery and equipment maker Renold RNO.L up 8.4% to 82.4p, its highest level since July 2015
** MPE Bidco, co-owned by U.S. private equity firm MPE Mgt Co, to buy firm in a 186.7 mln pound ($252.61 mln) cash deal
** Each Renold shareholder to get 82p/shr in cash, a 50% premium on RNO's closing price on May 19, the day before the offer was made
** Including session gains, stock up 75.3% YTD

($1 = 0.7372 pounds)

 (Reporting by Subiksha S in Bengaluru)

 ((Subiksha.S@thomsonreuters.com))