U.K.'s Renold Agrees to $254 Million Private-Equity Takeover by MPE Bidco
U.K. chain and gear maker Renold agreed to a $254 million takeover by MPE Bidco, which the companies said would improve their capabilities and opportunities.
MPE Bidco, a newly formed corporation backed by U.S. private-equity firm MPE, on Friday said each shareholder of the British company would receive 82 pence in cash for each ordinary share, valuing it at 186.7 million pounds ($254.2 million).
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