Shares digital

A widely anticipated counterbid for waste management group Biffa (BIFF) looks unlikely after the company confirmed that rival parties to the Montagu-led 350p per share offer had dropped plans for a competing bid. Shares in Biffa dropped 6% to 345.75p in response. Private equity group Terra Firma and industrial giant Suez were rumoured to have been the rival parties. Shareholders will now vote on 12 March over Montagu’s £1.2 billion takeover offer.

Shares says: Investors will be disappointed not to get a higher price, but it seems Montagu will win. DC