British investor Candover is to acquire the Naarden-based industrial concern Stork for €1.5bn or €48.40 per share. The announcement was made by the two companies on Wednesday morning.

After the takeover, Stork’s food systems division will be sold on to the company’s major shareholder, the Icelandic firm Marel, for around €415m.
Candover withdrew an earlier bid to takeover the Dutch company in September after its €47 per share offer failed to deliver the 65% of shares it wanted because of resistance from the Icelandic investor LME which owns almost 43% of Stork. LME is the parent concern of Marel.