Marel to increase stake in Stork

Icelandic company Marel is to resume building up its stake in Dutch engineering group Stork and may make a bid for the company in October at the earliest, the Financieele Dagblad reports on Tuesday.

Quoting well-informed sources, the paper says Marel has decided to start buying up shares again because talks between it and Stork have floundered.
Stork has agreed to be taken over by UK investment house Candover at €47 a share. But the Icelandic company has acquired over 32% of the shares.
Stork told the paper that Marel is trying to frustrate the Candover deal because it wants to take over Stork’s food systems division itself.

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