SHV makes bid for trading group Eriks

Family-owned trading group SHV has made a €42 a share offer for technical goods trader Eriks, valuing the company at €450m.

Eriks’ shares rose 32% on the news to €38.15 in Thursday afternoon trading.
Shareholders’ lobby group VEB said the offer was on the thin side considering Eriks paid a dividend €4.91 last year and has shown years of profit growth.
In 2008, Eriks bought sector peer Econosto for €130m.

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