8th Jul 2025 07:02
Renold PLC - Manchester, England-based supplier of industrial chains and related power-transmission products - Calls court and general meetings for July 28 to approve its takeover by funds managed by MPE Management Co LLC, while also providing a trading update. Last month, Renold agreed to a GBP186.7 million takeover offer from the US private equity firm. The deal values each Renold share at 82 pence. On Monday, Renold says it recorded "strong results" in the financial year that ended March 31 but now is "mindful of the additional challenges presented by the current economic backdrop". It says volume demand during the early part of financial 2026 has been "slightly below" a year before, with some customers deferring procurement decisions amid the "heightened level of uncertainty" in the company's end-markets. Renold says it so far has been able offset the lower sales volumes with price increases, and it will take "further price action" to meet additional cost increases.
Current stock price: 80.40p
12-month change: up 29%
By Tom Waite, Alliance News editor
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