Biffa has announced an agreed all cash offer from Equity Capital Partners (ECP) at 410p, an 8% discount to the originally mooted 445p level but a 29% premium to the current price. The Board of Biffa are unanimously recommending the offer while irrevocable acceptances have been received amounting to 13.9% of the shares in issue from Global Alpha Capital Management, Biffa's largest shareholder, and Soros. We expect this offer to succeed and we amend our Target Price to 410p from 445p both in line ....
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Biffa, Renewi - Agreed offer from ECP underscores value in Renewi
- Published:
27 Sep 2022 -
Author:
Colin Smith -
Pages:
3
Biffa has announced an agreed all cash offer from Equity Capital Partners (ECP) at 410p, an 8% discount to the originally mooted 445p level but a 29% premium to the current price. The Board of Biffa are unanimously recommending the offer while irrevocable acceptances have been received amounting to 13.9% of the shares in issue from Global Alpha Capital Management, Biffa's largest shareholder, and Soros. We expect this offer to succeed and we amend our Target Price to 410p from 445p both in line ....