ReNew Energy Global's (RNW) shares fell 1.3% in recent Monday trading after the company said Thursday that it received a final nonbinding buyout offer from a consortium led by Abu Dhabi Future Energy, also known as Masdar, for $8 a share in cash.
The consortium includes the Canada Pension Plan Investment Board, Platinum Hawk C 2019 and ReNew Chief Executive Officer Sumant Sinha.
The revised offer represents a 13.2% increase from the initial proposal on Dec. 10 and a 26.2% premium over the share price at the time of that bid, ReNew said.
ReNew's special committee and its independent financial adviser and legal counsel are reviewing the offer amid discussions with the consortium.
"No assurance can be given regarding the likelihood, terms or details of a potential transaction," ReNew said.
Price: 7.57, Change: -0.10, Percent Change: -1.30
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