Renewi Takeover Rumours (RWI)

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Renewi Takeover Forum Posts

28-05-2020
yes absence of any news, the stock will stay dead atm. any rally will fade it seems. only viable exit for shareholders is a takeover of rwi
12-03-2020
No idea tbh, no TR1s for a while to see new buyers / sellers. The rally coincided with Viridor's takeover news (at reported 13-18x EBITDA) and some analysts flagged that a takeover of RWI at 8x EBITDA would equal c. 93p valuation. Renewi also got certification for secondary building materials that supported that rally. But no idea how lower or higher this is going. Stocks sell off regardless of fundamentals or valuation so nobody knows.
20-02-2020
..or he is just lucky and never uses inside info! :p next time he buys we will probably see a takeover of RWI after a couple of days at a high premium.
22-01-2020
The regulatory issue could cause problems but ultimately that has an equal effect on competitors and creates barriers to entry. It also helps price increases. Renewi has stated it is cautious about the Dutch Construction Industry due to contamination. Let’s not forget these materials still need disposing of or recycling. Four EU countries are pushing hard for PFAS restrictions and it’s not something that is new. They presented to the EU council in December to restrict all per- and polyfluoroalkyl substances (PFAS), except for uses of the chemicals deemed essential. Any confirmed takeover interest would see the SP rocket and would be mostly likely closer to £1 than 30p. This is a good read on PFAS hxxps://cen.acs.org/environment/persistent-pollutants/EU-countries-propose-restrictions-PFAS/97/web/2019/12
Not feeling more positive, because even a takeover would be an external event rather than organic improvement. What worries me is not the ELWA 25.5mn write-down but the new PFAS regulatory issue. PFAS could create more regulatory blocks for the next 2-3 years (given how stringent the Dutch regulator is). PFAS could become a bigger problem than the TCG saga (ATM) because is affects the biggest revenue-generating part of Renewi, the Dutch Commercial Division.
Rabobank-Kepler Cheuvreux who are the Dutch listing agent of Renewi believe that Renewi could soon become a takeover target. "The acquisition of Van Gansewinkel in 2016 should give Renewi further pricing power, and management confirmed this to us at our recent meeting. Whilst there was a delay to passing on price increases, those increases are being implemented and management are confident they will stick. This is a large part of the reason for our continued confidence in the company, as well as the long-term structural drivers around recycling growth to which Renewi is well exposed. In addition, management have recently divested two sizeable assets (one in the Netherlands, Reym, and one in Canada) which will refocus the business, reduce debt and potentially increase the group’s strategic value to acquirers. We think these sales will be well received and further increase the likelihood of the company itself being bought."
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