Metro: EP Global Commerce offer set to fail
(CercleFinance.com) - EP Global Commerce, the holding company of Czech billionaire Daniel Kretinsky, said on Thursday that it expects its hostile takeover bid of 5.
8 billion euros on Metro to fail.
In view of the latest data collected, EPGC estimates that it will be difficult for it to reach the threshold for the offer to succeed (set at 67.5%).
Earlier this week, EP Global Commerce said that it was keeping the terms of its tender offer for Metro unchanged, despite the German distributor's rejection of its proposal.
As of Monday, commitments to tender ordinary shares received by the holding company only reached 34.6% of the group's capital, a far cry from the required 67.5% threshold.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
8 billion euros on Metro to fail.
In view of the latest data collected, EPGC estimates that it will be difficult for it to reach the threshold for the offer to succeed (set at 67.5%).
Earlier this week, EP Global Commerce said that it was keeping the terms of its tender offer for Metro unchanged, despite the German distributor's rejection of its proposal.
As of Monday, commitments to tender ordinary shares received by the holding company only reached 34.6% of the group's capital, a far cry from the required 67.5% threshold.
Copyright (c) 2019 CercleFinance.com. All rights reserved.