Shanks Group Approached by Carlyle Group with Potential Takeover Bid
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Shanks Group PLC, the London based waste-management company, said that it is evaluating a bid by Carlyle Group LP for a possible takeover.
Shanks rejected a $2.15 (135 pence) per share takeover bid by another private equity group, and said that $2.39 (approximately 150 pence) was a number closer to fair market value for the company. This amount has shanks valuing their company at $957.5 million (£600 million).
The approach was made by Carlyle, and the firm did not disclose any figures.
Shanks closed at 131 pence ($2.09) on Wednesday.
Shanks rejected a $2.15 (135 pence) per share takeover bid by another private equity group, and said that $2.39 (approximately 150 pence) was a number closer to fair market value for the company. This amount has shanks valuing their company at $957.5 million (£600 million).
The approach was made by Carlyle, and the firm did not disclose any figures.
Shanks closed at 131 pence ($2.09) on Wednesday.
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