French firm announces bid for Hagemeyer

Tuesday 09 October 2007

French trading company Sonepar announced on Tuesday that it has put in an indicative cash bid of €4.25 per share to take over Dutch trading firm Hagemeyer. The bid values Hagemeyer at around €2.5bn.

Sonepar has invited Hagemeyer for talks and hopes for the support of the company’s management board and supervisory board, reports ANP news service.

Hagemeyer says it had not had any contact with Sonepar until Monday night and is currently considering its position.

With a share rise of 22.5% in the last month Hagemeyer is currently the most successful stock on the main AEX Amsterdam bourse, says ANP. Its share price was €4.16 at the end of trading on Monday.

© DutchNews.nl

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