Candover makes offical bid for Stork

The British investment company Candover has brought out a formal bid for the Dutch industrial engineering concern Stork. Candover his prepared to pay €1.5bn (47 per share) for Stork in line with its provisional offer at the end of June.

The takeover deal has been recommended by Stork’s management and supervisory board.
‘Keeping the offer [at its original level] shows great dedication by Candover, especially in view of the current situation on the credit market, the fall on share markets and the meagre results in our aviation activities,’ a spokesman for Stork told ANP news agency.
No rival bidders have come forward so far, he added.

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