Macquarie Asset Management has released a statement on Thursday confirming it will not make a formal take-over offer for the waste management group Renewi plc. The financial investor had approached the company's board in late September with an unsolicited proposal, which was rejected. A second, higher indicative offer made this week was also rejected by Renewi. Under British law, Macquarie had until 26 October to declare whether it had a firm intention to present a binding offer for the waste company or whether it planned to back off.
Read more about the revised offer and Renewi's reaction on Thursday here...
