Summary
Australia's Macquarie Bank yesterday failed to reach the required acceptance level for its 1.4 billion euro (pounds 933.3 million) bid for German metering firm Techem.
Only 43.05 per cent of the shares were tendered, Macquarie said. The offer of 55 euros (pounds 36.66) per share, which was endorsed by Techem's supervisory board, was subject to an acceptance rate of at least 70.5 per cent.See the full content of this document
Extract
Macquarie Techem Bid Fails
Techem's management said it regretted the failure of the bid but it wou...
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