Grammer AGM interrupted amid activist opposition
13/06/2018 10:24
FRANKFURT, June 13 (Reuters) - Chief Executive Hartmut
Mueller urged shareholders on Wednesday to back Ningbo Jifeng's
603997.SS takeover offer, as a Bosnia-backed investor group
opposed the move and forced a halt to Grammer's annual general
meeting.
Last month Chinese auto supplier Ningbo Jifeng made an
indicative offer of 61.25 euros ($71.96) per Grammer share.
Cascade, an investment vehicle controlled by the Hastor family
has dismissed the takeover offer as insufficient, demanding 85
euros to 100 euros a share. urn:newsml:reuters.com:*:nL5N1T15RR
Mueller on Wednesday said Grammer has no plans for a squeeze
out of minority shareholders, he told the company's annual
general meeting.
($1 = 0.8512 euros)
(Reporting by Irene Preisinger
Writing by Edward Taylor
Editing by Caroline Copley)
((Edward.Taylor@thomsonreuters.com; +49 69 7565 1187;))