Sharp falls in the value of the euro and sterling coupled with the deepest trading discounts of European stocks versus global peers seen since March 2009, have fuelled a surge in take-private interest from cash-rich buyout firms. Also capturing the attention of private equity in recent weeks were power generating firm ContourGlobal GLO.L, British waste-management specialist Biffa BIFF.L and bus and rail operator FirstGroup FGP.L, with the latter rejecting the takeover approach. Globally, private equity activity has eased after a record year in 2021, hit by raging inflation, recession fears and the rising cost of capital.