Macquarie Group, a private equity firm, offers to acquire Renewi, a waste management firm, in a $775m deal. "The proposal provides a compelling opportunity for Renewi's shareholders to realise their investment for cash at a very significant premium and at an attractive multiple. Macquarie believes that Renewi's ability to deliver its stated ambition will remain constrained under the current capital structure by the limited near-term operating cash flow and limited leverage capacity. In a challenging macro and cost of capital environment, Macquarie believes the proposal represents an attractive alternative for shareholders, attributing a full and fair valuation for the company's future potential," Macquire.