German wine seller Hawesko urges investors to reject Meyer takeover bid
04/12/2014 06:25
FRANKFURT, Dec 4 (Reuters) - German wine seller Hawesko's
HAWG.DE management said on Thursday that a 40-euro-per-share
takeover bid by shareholder Detlev Meyer was too low and
recommended that investors do not accept the offer.
In a statement published on its website, Hawesko's
management said the bid, which values the company at close to
360 million euros ($443 million), did not offer a sufficient
premium, especially considering the bidder's plans for a
restrictive dividend policy.
Meyer owns 29.5 percent of Hawesko shares via his investment
vehicle Tocos Beteiligungs GmbH. Hawesko Chief Executive
Alexander Margaritoff holds a 30 percent stake in the firm.
($1 = 0.8127 euro)
(Reporting by Maria Sheahan; Editing by Kenneth Maxwell)
((maria.sheahan@thomsonreuters.com; +49 69 7565 1286; Reuters
Messaging: maria.sheahan.thomsonreuters.com@reuters.net))
Keywords: HAWESKO HOLDING M&A/MEYER