Macquarie Asset Management offered to acquire Renewi for about £701 million ($1.4 billion) after its previous takeover attempt of the London-listed waste management company was rejected. Shares of Renewi jumped by the most since 2009.
The asset manager has reached a preliminary agreement with Renewi on a possible cash offer of £8.70 per share, representing a 57 per cent premium to Wednesday’s closing price, according to a statement that confirmed an earlier Bloomberg News report.