Renewi Takeover Rumours (RWI)

The Dutch chat speculating the recent share rise is due to them looking confident regarding the UK PPP sale (CEO Otto hinted it at a radio interview with BNR) which would effectively increase the margins. Also from month-end Apr-24 they can invite back takeover bids, and pruning the UK municipal onerous contracts could potential command a better take private bid.

Today's RNS looks like a PR stunt rather anything meaningful. They have now less than 3 months to sell the UK business as promised to investors to sweeten the pill when they rejected the takeover bids

Renewi welcomes Bruno Bruins as Chief Strategy Officer, a former Dutch MP and Govt Minister. So we are adding a Dutch politician on the payroll (most likely at 200k+ EUR p.a. judging from the current executive pay) for lobbying efforts in Brussels. RWI could use the same money to hire Rothchilds or Lazard for a strategic review and to invite takeover bids instead of wasting money on former politicians

thank you George, but to get back to the question- under the takeover code when can they come back. I thought it was 6 months but what do I know.

This used to dip 10% or so in similar situations in the past and most long term holders will recall. Getting a bounce and got bought with both fists below 6 quid. I was expecting worse Probably market is suspicious takeover still not completely off the table

Ok so more of the same. Will they give us an answer why they never made public the 900p takeover bid? And what was the reason again they rejected the 810p one?

part of Sunday Times article. Shareholders in Renewi, the Milton Keynes-based rubbish and recycling group once known as Shanks, are demanding answers after the board rejected a £720 million takeover bid from Australian infrastructure investor Macquarie without first consulting them. Macquarie, it has emerged, made an approach of up to 900p a share earlier this year, but it was rejected by the Renewi board. The company did not tell its shareholders of the potential offer. Macquarie subsequently went public with a lower bid of 775p in October, equivalent to £636 million. This, and a slightly higher subsequent offer, were also rejected by the company.