Macquarie Asset Management is said to be making a fresh bid to acquire Renewi Plc, a waste management company listed in London.
The asset manager is reportedly working with advisers to explore the possibility of this acquisition.
Following this news, Renewi's shares saw a significant increase of up to 25%, which is the largest surge in 14 months.
Prior to this development, the company's stock had experienced a decline of 13% this year, resulting in a market capitalization of around £450 million ($569 million).