Apollo withdraws from bidding war for Spain's Applus
17/05/2024 13:37
May 17 (Reuters) - Apollo has withdrawn its offer for
all the shares of Spanish industrial testing firm Applus
APPS.MC , it said on Friday in a filing to the stock market
regulator CNMV.
Buyout fund Apollo on one side and rival funds I Squared
Capital Advisors and TDR Capital on the other filed two rival
tender offers to acquire the company last summer, kicking off a
bidding war.
I Squared Capital Advisors and TDR Capital offered 12.78
euros ($13.86) per share, topping the 12.51 euros offered by
Apollo.
($1 = 0.9223 euros)
(Reporting by Matteo Allievi, editing by Inti Landauro)
((matteo.allievi@thomsonreuters.com;))