Brief: Klöckner & Co Board Recommend Not To Accept Takeover Offer By Swoctem

Kloeckner & Co SE

31/03/2023 13:06

March 31 (Reuters) - Kloeckner & Co Se  KCOGn.DE :
    * MANAGEMENT BOARD AND SUPERVISORY BOARD OF KLÖCKNER & CO SE
RECOMMEND NOT TO ACCEPT THE VOLUNTARY PUBLIC TAKEOVER OFFER BY
SWOCTEM GMBH
    * HAVE CONCLUDED THAT AMOUNT OF OFFER PRICE OF EUR 9.75 IN
CASH
PER KLÖCKNER & CO SHARE IS NOT ADEQUATE FROM A FINANCIAL POINT
OF VIEW
    * PREMIUM OFFERED IS THUS SIGNIFICANTLY BELOW HISTORICAL
MEDIAN OF
PREMIUMS OFFERED IN TAKEOVER TRANSACTIONS IN GERMANY
    * OFFER PRICE DOES NOT REFLECT FUNDAMENTAL VALUE OF KLÖCKNER
& CO
BASED ON ITS GROWTH AND PROFITABILITY POTENTIAL

Source text for Eikon:  ID:nEQlQgFpa 
Further company coverage:  KCOGn.DE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))