Augean receives bid approaches

SHARE values of British hazardous waste management company Augean surged yesterday after management said the company, 27% owned by One51, had received a number of preliminary bid approaches.

Augean said the potential offers were pitched at a “significant premium” to the current share price, although it stressed that the talks are at an early stage. It has long being suspected that One51 would launch an all-out bid for the company with a current market capitalisation of £63.5 million (€79m).

The company also flagged a “considerable, sustained, upturn in activity” at its landfill sites and a strong performance in its treatment operations.