FleetPartners Shares Gain After Element Fleet Walks Away From Takeover Bid

(RTTNews) - Element Fleet Management Corp. (EFN.TO), pure-play automotive fleet manager, announced that it has decided not to submit a revised proposal to acquire FleetPartners Group Limited (FPR.AX), fleet management company in Australia and New Zealand. As a result, Element has withdrawn from the current sale process. FPR.AX was trading at A$4.55 up A$0.42 or 10.17%. After completing its Phase 1 review, Element determined that continuing in a competitive process did not provide a certain pathway to a transaction capable of delivering a compelling risk-adjusted return. On August 9, 2026, Element had announced the submission of a non-binding indicative proposal to acquire FleetPartners Group.