ReNew Energy said Tuesday it is evaluating a new $7.02 per share takeover offer from a consortium led by Canada Pension Plan Investment Board and ReNew Energy founder Sumant Sinha, with active discussions ongoing. The revised cash offer represents a 30% premium over the volume-weighted average price of $5.38 per share since December 15, when SEC filings indicated a Masdar-led consortium would no longer pursue its acquisition, through May 28, the last trading day before the consortium submitted the May proposal letter.
Renew Energy Global PLCNew take-private proposal at $7.02 per share, 30% premium over recent VWAP.