[ID] => 9841
[post_author] => 34
[post_date] => 2018-07-16 16:10:02
[post_date_gmt] => 2018-07-16 15:10:02
[post_content] => Warwick Holding GmbH has made a voluntary offer to acquire all outstanding shares in VTG AG at a price of €53 per share. Warwick Holding, an indirect subsidiary of funds advised by Morgan Stanley Infrastructure Inc, currently owns approximately 29% of VTG shares and it has received a commitment from Kühne Holding AG, which owns some 20%, to sell its holding.
The deal is subject to the usual closing conditions and to the closing of the previously announced acquisition of Nacco, due to be completed in the second half of this year. Another condition of the offer is that VTG will have no business relationships with parties sanctioned by the US Office for Foreign Assets Control.
VTG, however, does not regard the offer as reflecting the full value of the company. Dr Heiko Fischer, CEO of VTG AG, says, “We are always open for constructive discussions with the Bidder. As soon as we have received the offer document, we will examine in detail whether it is in the interest of the Company, our employees and shareholders. From today's perspective of the Executive Board, the announced offer price of €53 does not adequately reflect the potential of the company and is therefore not appropriate.”
[post_title] => VTG bid price "not appropriate"
[post_status] => publish
[comment_status] => open
[ping_status] => open
[post_name] => vtg-bid-price-not-appropriate
[post_modified] => 2018-07-16 16:10:02
[post_modified_gmt] => 2018-07-16 15:10:02
[post_parent] => 0
[guid] => https://www.hcblive.com/?p=9841
[menu_order] => 0
[post_type] => post
[comment_count] => 0
[filter] => raw
VTG bid price “not appropriate”
// By Peter Mackay on 16 Jul 2018
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