Siemens won't be making an offer for Renishaw

By Nicky Godding

3 April 2024

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Global technology company Siemens has said that it does not intend to make an offer for Gloucestershire-based scientific instruments manufacturer Renishaw after press speculation.

In a statement to the London Stock Exchange it said: "Siemens notes the recent press speculation in relation to Renishaw. Siemens confirms that it does not intend to make an offer for Renishaw."

Renishaw, which celebrated its 50th birthday last year, was founded by Sir David McMurty and John Deer. In 2021 the men, who are both more than 80 years old and own around 36 per cent and 16.5 per cent of the company's shares respectively, put them up for sale indicating that they would like to return.

But the lack of a suitable purchaser put their plans on hold. After four months, the company issued a statement which said it had "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."

At the time, Sir David and John Deer, said that they remained committed to Renishaw and had no intention of selling their shares on the market for the foreseeable future.

Three years on and they are three years older.

Renishaw is valued at £3.17 billionn and it is a constituent of the FTSE 250 index.

By Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.