Candover withdraws bid for Stork

UK investment house Candover has withdrawn its bid for Dutch engineering group Stork because it cannot get enough backing from shareholders.

LME, an investment group led by Icelandic food processor maker Marel, has built up a 43% stake in Stork, making it impossible for Candover to complete the takeover. Marel has been trying for almost two years to take over Storks Food Service division.

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