Germany’s Metro says $6.6 billion bid undervalues company

  • News Digest

Jun 24, 2019-

FRANKFURT: Metro said that an unsolicited offer by two prominent investors to take over the German retailer substantially undervalues it and advised shareholders on Sunday to hold off on taking action until management comments further. On Friday, EP Global Commerce, an acquisition vehicle owned by the Czech and Slovak investors, made the takeover offer, which valued the company at $6.6 billion. The retailer, noting that the offer price was only 3 percent above the closing share price on Friday, said the bid “substantially undervalues the company and does not reflect its value creation plan”. (REUTERS)

Published: 24-06-2019 09:33

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