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Renishaw No Longer Engaged in Sale Process

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WOTTON-UNDER-EDGE, England, July 7, 2021 — In a message to investors, metrology equipment company Renishaw stated it is no longer seeking a sale. The company announced earlier in the year that founders David McMurtry and John Deer would be selling their majority in the company. After reviewing offers, the company decided against the sale.

In a July 7 announcement, the company stated, “The Board carefully reviewed a number of proposals with its advisers and unanimously concluded that none would meet the Board’s objectives of delivering an outcome that satisfactorily met the interests of all stakeholders. Sir David McMurtry and John Deer have indicated to the Board they remain committed to Renishaw and have no intention of selling their shares on the market for the foreseeable future.”

The company also shared strong trading performance in the revenue cycle for the financial year ending in June 2021. Expected revenue for the cycle is anticipated to be in the range of £562 million and £567 million ($773.14 million and $780.22 million), and adjusted profit (before tax) to be in the range of £116 million and £121 million ($159 million and $166.53 million).


Published: July 2021
Glossary
metrology
Metrology is the science and practice of measurement. It encompasses the theoretical and practical aspects of measurement, including the development of measurement standards, techniques, and instruments, as well as the application of measurement principles in various fields. The primary objectives of metrology are to ensure accuracy, reliability, and consistency in measurements and to establish traceability to recognized standards. Metrology plays a crucial role in science, industry,...
raman spectroscopy
Raman spectroscopy is a technique used in analytical chemistry and physics to study vibrational, rotational, and other low-frequency modes in a system. Named after the Indian physicist Sir C.V. Raman who discovered the phenomenon in 1928, Raman spectroscopy provides information about molecular vibrations by measuring the inelastic scattering of monochromatic light. Here is a breakdown of the process: Incident light: A monochromatic (single wavelength) light, usually from a laser, is...
BusinessRenishawsalesellingmetrologyoffermergers & acquisitionsEuropemedicaloptical metrologycalibrationspectroscopyRaman spectroscopy

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