Element Fleet Management Withdraws Bid to Acquire FleetPartners Group

07:30 AM EDT, 09/14/2026 (MT Newswires) -- Element Fleet Management (EFN.TO) has decided to not submit a revised bid to acquire FleetPartners Group, the intelligent fleet and mobility solutions provider said late Sunday. Element remains committed to its operations in Australia and New Zealand, the company said. "Following our review, we concluded that the risk-adjusted return did not justify continuing in an increasingly competitive process," Chief Executive Officer Laura Dottori-Attanasio said. Element said its decision to withdraw from the sales process does not affect the company's existing operations. "We will continue to invest in organic growth, evaluate strategic opportunities, and return capital to shareholders where we believe doing so creates the greatest long-term value," Dottori-Attanasio said.