FRANKFURT (Dow Jones ) – The takeover process of Hochtief AG by their Spanish major shareholder ACS has identified the Federal Financial Supervisory Authority ( BaFin), the three- month average rate for the Hochtief shares. To date, 15 September amounts to the average price 50.97 EUR , as the BaFin announced on Friday. (Photo : high- low)
ACS will acquire the majority of the Essen construction services . For this, the company announced announced a takeover offer by share exchange. ACS will provide for each 5 Hochtief – shares eight of its own . Thus, the ACS bid based on the current share price of 36.19 EUR a volume of 57.90 EUR per Hochtief ‘s share price. Hochtief shares a note but with 62.98 EUR much higher than the bid.
Hochtief , the suggestion has already called unfriendly and stated that such a bid would bring to shareholders no benefit , also the offering would not correspond to the value of Hochtief.
-By Natalie Schwab , Dow Jones Newswires, +49 69 29725119 ;
natali.schwab @ dowjones.com
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