Oct 26 (Reuters) - Asset manager Macquarie said on Thursday it did not intend to make another offer for Renewi after the London-listed waste management company rejected its sweetened bid.

Shares of Renewi fell 18.1% to close at 540 pence on Thursday, almost giving up two-thirds of gains it recorded since Macquarie made the first offer on Sept. 25.

Renewi said it has rejected the revised offer of 810 pence per share it received on Wednesday as it "fundamentally undervalues" the company. It comes after the company rejected the initial offer of 775 pence per share.

Macquarie said that following multiple attempts to engage with Renewi's board, all of which were rejected, it was not in an informed position to make an offer for the firm.

Renewi said that the board remains confident in the company's future prospects. (Reporting by Zainab Saifuddin Saifee and Eva Mathews in Bengaluru; Editing by Shilpi Majumdar, Shinjini Ganguli and Shweta Agarwal)