Two firms left in Draka takeover battle
French company Nexans has pulled out of the race to buy Dutch cable maker Draka, leaving two firms – Italy’s Prysmian and China’s Xinmao – in the field.
Nexans had offered €15 a share for Draka, which the company rejected as too low.
Prysmian’s bid is a cash share offer worth €17.20 per share while Xinmao has offered €20.50 in cash.
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