BXB +11.22%: the logistics business confirmed it was engaged in takeover discussions with private equity outfit CVC today. Talks are in preliminary stages but media reports are suggesting a $13.9b bid is in play for the pallets business. Brambles has been searching for ways to unlock value in the business, recently completing a sizable buyback and looking to transform its operations to be more sustainable and efficient. CVC are yet to be granted due diligence or secure funding so there is plenty more to play out here.
MM is bullish BXB – more to play out here
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