Dutch postal company PostNL has rejected the fourth and ‘final offer’ made by Belgian peer Bpost, which had valued the Dutch firm at €2.7bn.

In a statement, the Dutch firm said it did not believe the merged group would be successful. In addition, a takeover could have ‘significant negative effects on PostNL’s financial position, its workers… and the continuity of its operations.’

The influence of the Belgian government, which has a majority stake in Bpost would also make managing the company too complicated, PostNL said.

The lack of political support for a takeover in the Netherlands is another factor. ‘Broad support from stakeholders, including politicians, is crucial’ for a successful merger, the statement said.

Support

Bpost has said it only wants to take over PostNL if the offer is supported by the Dutch, making a hostile takeover bid unlikely.

On Tuesday, the Dutch shareholders’ association VEB called on PostNL to start talks with the Belgians.

‘Bpost is a serious company with a serious takeover proposal,’ the VEB said. ‘A listed company such as PostNL should at the very least listen to Bpost’s plans.