U.K.'s Renold Agrees to $254 Million Private Equity Takeover by MPE Bidco

Dow Jones

2025/06/13

By Nina Kienle

U.K. chain and gear maker Renold agreed to a $254 million takeover by MPE Bidco, which the companies said would improve their capabilities and opportunities.

MPE Bidco, a newly-formed corporation backed by U.S private equity firm MPE, on Friday said each shareholder of the British company would receive 82 pence in cash for each ordinary share, valuing it at 186.7 million pounds ($254.2 million).

The acquisition price represents a premium of around 50% to Renold's closing share price of 54.6 pence on May 19, the day before Renold first received the offer, the companies said in a joint statement.

"The Renold Board believes that the offer not only represents a significant premium and provides shareholders with the certainty of a cash consideration but also provides an opportunity to deliver on our strategy more quickly," Chairman David Landless said.

Renold's London listed shares were up 11% at 84 pence in late morning trading, and are up 78% in the year to date.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

June 13, 2025 05:25 ET (09:25 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4215","symbol_name":"住宅房地產投資信託","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2543502790","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2543502790","pubTimestamp":1749806700,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"U.K. chain and gear maker Renold agreed to a $254 million takeover by MPE Bidco, which the companies said would improve their capabilities and opportunities.MPE Bidco, a newly-formed corporation backed by U.S private equity firm MPE, on Friday said each shareholder of the British company would receive 82 pence in cash for each ordinary share, valuing it at 186.7 million pounds .The acquisition price represents a premium of around 50% to Renold's closing share price of 54.6 pence on May 19, the day before Renold first received the offer, the  companies said in a joint statement.\"The Renold Board believes that the offer not only represents a significant premium and provides shareholders with the certainty of a cash consideration but also provides an opportunity to deliver on our strategy more quickly,\" Chairman David Landless said.Renold's London listed shares were up 11% at 84 pence in late morning trading, and are up 78% in the year to date.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4215":"住宅房地产投资信托","BK4585":"ETF&股票定投概念","BK4588":"碎股","EQR":"资产住宅公司"},"translate_title":"英国Renold同意MPE Bidco以2.54亿美元收购私募股权","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EQR":1},"content_text":"By Nina Kienle \n\n\n \n\n\n  U.K. chain and gear maker Renold agreed to a $254 million takeover by MPE Bidco, which the companies said would improve their capabilities and opportunities. \n\n\n  MPE Bidco, a newly-formed corporation backed by U.S private equity firm MPE, on Friday said each shareholder of the British company would receive 82 pence in cash for each ordinary share, valuing it at 186.7 million pounds ($254.2 million). \n\n\n  The acquisition price represents a premium of around 50% to Renold's closing share price of 54.6 pence on May 19, the day before Renold first received the offer, the  companies said in a joint statement. \n\n\n  \"The Renold Board believes that the offer not only represents a significant premium and provides shareholders with the certainty of a cash consideration but also provides an opportunity to deliver on our strategy more quickly,\" Chairman David Landless said. \n\n\n  Renold's London listed shares were up 11% at 84 pence in late morning trading, and are up 78% in the year to date. \n\n\n \n\n\n  Write to Nina Kienle at nina.kienle@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 13, 2025 05:25 ET (09:25 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}