It's been an interesting year or so for investors in waste management group Shanks.
Late in 2009 the company rejected a 135p a share bid approach from private equity group Carlyle, publically stating that 150p would be closer to an acceptable price. One profit warning and a reduced offer from Carlyle of 120p a share later, and the deal was off. Carlyle walked away in March this year. Since then Shanks shares have languished and at the start of trading today, they stood at 103.5p, a long way off 150p or even 135p.
But they are now up 9.2p at 112.7p - a near 9% gain - as traders heard talk of a possible new bid. Could Carlyle be coming back? Watch this space.
