Rexel, Hagemeyer enter takeover talks; Hagemeyer backs new bid |
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Published
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Mon, 12 Nov 2007 08:42
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AMSTERDAM (Thomson Financial) - Hagemeyer NV and Rexel are to enter exclusive takeover talks after Rexel raised its bid to 4.85 eur per share, from a previous 4.60 eur.Hagemeyer's management board and supervisory board are backing the bid, Hagemeyer and Rexel said in a joint statement.Rexel is to start the due diligence process this Wednesday.After the takeover, certain Hagemeyer assets will be sold by Rexel to Sonepar, which had put out a bid but retracted it after agreeing to a takeover deal with Rexel.By Kaj Leers, kaj.leers@thomson.comkel/salCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Hagemeyer shareholder says Rexel's takeover offer is too low - report 