Candover withdraws offer on Stork
Candover Investments PLC, a British investment company,
has withdrawn their €1.5 billion ($2.1 billion) public offer for Dutch
industrial engineering firm Stork NV in the face of opposition from another
Candover didn't succeed in gathering enough shares to create a complete
take-over. Iceland's meat processing company has built a 43% stake in the
company, with the aim of acquiring its meat processing activities.
Candover's offer was conditional on receiving 80% percent of shares - an
impossibility with Iceland's blocking the €47 ($65.19) per share bid.
To comment, login here
Or register to be able to comment.