LONDON (ShareCast) - (Sharecast News) - Renold has published the scheme document on Monday for its recommended cash acquisition by MPE Bid Co, a newly formed entity controlled by funds managed by MPE Management, ahead of shareholder meetings to approve the deal on 28 July.
The AIM-traded firm said the proposed acquisition, first announced in June, would be implemented via a court-sanctioned scheme of arrangement under part 26 of the Companies Act.

If approved, it would see Bidco acquire the entire issued and to-be-issued share capital of the chain and power transmission specialist.

Renold confirmed strong trading performance in the 2025 financial year, citing strategic progress and a growing international footprint.

However, early in the 2026 period, customer demand had softened slightly as clients deferred procurement amid broader macroeconomic uncertainty.

The company said pricing initiatives had offset volume declines, but flagged currency headwinds from a weaker US dollar.

Its board reiterated its support for the takeover, saying the terms were "fair and reasonable" and recommending shareholders vote in favour of the scheme and related resolutions.

"The Renold directors consider the terms of the acquisition to be in the best interests of Renold shareholders as a whole," the company said.

Peel Hunt is acting as independent financial adviser to the board under the Takeover Code.

The court meeting and general meeting would be held on 28 July in London.

Shareholder approvals require both a majority in number and 75% in value of votes cast at the court meeting, and a majority at the general meeting.

Renold directors, holding about 2.7% of the share capital, had irrevocably undertaken to vote in favour.

Subject to approvals and conditions being met, the deal was expected to complete in the final quarter of the year.

Trading in Renold's shares on AIM would be cancelled shortly after the scheme becomes effective.

Shareholders were urged to submit proxy votes by 24 July.

At 1002 BST, shares in Renold were down 0.25% at 80.4p.

Reporting by Josh White for Sharecast.com.

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