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Stock impact report

Renew Energy (RNW) Loses 27% as Firm Pulls Out from Acquisition Plan [Yahoo! Finance]

ReNew Energy Global plc - Class A Shares (RNW) 
Company Research Source: Yahoo! Finance
ReNew Energy nosedived by 27.15 percent on Monday to finish at $5.50 apiece as investors unloaded positions after Masdar, one of the largest renewable energy companies globally, pulled out from a $1 billion plan to take the former private. In a statement over the weekend, Masdar said that it officially withdrew from a consortium that would have taken ReNew Energy Global Plc (NASDAQ:RNW) private. lassedesignen/Shutterstock.com As a result, ReNew Energy Global Plc (NASDAQ:RNW) said that the entire merger proposal would no longer push through. The decision followed a year-long negotiation, which raised the supposed acquisition to $8.15 per share from the initial offer of $7.07 apiece. Apart from Masdar, the consortium also included CPP Investments, ADIA (through Platinum Hawk), and ReNew's own founder and CEO, Sumant Sinha. ReNew Energy Global Plc (NASDAQ:RNW) has yet to announce its next steps following the withdrawal of the transaction. While we acknowledge the potential Show less Read more
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