Metro rejects EP Global takeover offer as insufficient

Credit: REUTERS/WOLFGANG RATTAY

Metro on Thursday rejected a takeover offer by an acquisition vehicle owned by Czech and Slovak investors as insufficient.

BERLIN, Oct 15 (Reuters) - Metro B4B.DE on Thursday rejected a takeover offer by an acquisition vehicle owned by Czech and Slovak investors as insufficient.

EP Global Commerce, co-owned by Czech investor Daniel Kretinsky and Slovak partner Patrik Tkac, already failed last year with a 5.8 billion euros ($6.8 billion) takeover bid for Metro.

The new offer of 8.48 euros per ordinary share and some 8.87 euros per preference share undervalues Metro significantly, the wholesale group said in a statement.

($1 = 0.8539 euros)

(Reporting by Kirsti Knolle; Editing by Maria Sheahan)

((kirsti.knolle@thomsonreuters.com; +43 1 2530 1650 13;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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