UK's Renold near decade high on dual takeover bids

Renold

20/05/2025 11:17

** Shares of Renold RNO.L up nearly 37% at 75p, highest since Sept 2015

** Stock on track for biggest one-day pct gain since April 2020

** Industrial machinery and equipment maker confirms it has two non-binding all-cash takeover proposals, says board is engaging with both

** At current price, company's market value is about 169 mln pounds ($225.95 mln)

** The latest proposal of a consortium comprising Buckthorn Partners LLP and One Equity Partners IX LP came in at 81p per RNO share, the company said

** Webster Industries Inc.'s latest proposal was 77 p per RNO share

** Including session gains, stock up nearly 63% YTD

($1 = 0.7479 pounds)

 (Reporting by Nithyashree R B)

 ((NithyashreeRB@thomsonreuters.com))