Swiss plastics maker Quadrant has rebuffed a take-private approach despite the buyout consortium offering an 85% premium to the company's closing share price, as other targets accept smaller increments to cushion them against equity market falls.

UK private equity firms BC Partners and Cheyne Special Situations Fund attempted to enter an exclusive pre-offer due diligence arrangement with Quadrant, but the company declined the request citing fears a highly leveraged buyout would "jeopardize" the board's growth strategy.