Canada's Element cuts a U-turn at $860m auction for FleetPartners
Element Fleet Management, the sole bidder yet to lodge a revised offer, has quit the race to buy Australian car-leasing firm FleetPartners.
Company
vehicle leasing rival
Every investor coverage indicates participated in a round FleetPartners raised.
Companies FleetPartners acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
Stories naming FleetPartners. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Element Fleet Management, the sole bidder yet to lodge a revised offer, has quit the race to buy Australian car-leasing firm FleetPartners.
FleetPartners has received a A$3.85-per-share buyout proposal from a Sumitomo-led consortium, topping ORIX and Element Fleet's bids but trailing SG Fleet's, as a four-way contest for the Australian vehicle lessor continues.
Smartgroup has pulled out of the sale contest for ASX-listed fleet leaser FleetPartners, leaving Orix, SG Fleet and Element Fleet Management as the remaining suitors, per Street Talk.