Renold gets two takeover proposals, shares surge.

Renold surged on Tuesday as it confirmed it had received two separate cash takeover proposals from private equity firms.

Renold
20 May 2025 10:53:31

Source: Sharecast

The AIM-listed engineering firm said it had received unsolicited and non-binding takeover proposals from a consortium comprising Buckthorn Partners and One Equity Partners, and Webster Industries, a company majority-owned by a fund managed and controlled by Morgenthaler Private Equity.

The consortium's latest proposal is at 81p per share, while Webster's is at 77p a share and each follows several previous proposals.

"The board of Renold is currently engaging with both the consortium and Webster, including providing them with access to management and diligence information," it said. "There can be no certainty that an offer will be made, or as to the terms of any such offer."

Under UK takeover rules, the private equity firms have until 17 June to either announce a firm intention to make an offer or walk away.

At 1050 BST, the shares were up 37.5% at 75.06p.

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