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Draka enters takeover talks with Xinmao

Wednesday 24 November 2010 | 11:02 CET | News
Draka's supervisory board and management board will begin takeover talks with Tianjin Xinmao. The talks will centre on the logic, merits and risks of a possible merger of both companies. As part of the discussions, Draka will look at Xinmao's accounting books. Tianjin Xinmao Science & Technology's bid for Draka also has be to approved by the Xinmao Group. Xinmao wants to buy Draka in order to strengthen its own position on the Chinese market. On 22 November, Draka announced a takeover offer from Italy's Prysmian. The Dutch cable producer then received the unexpected, and higher, bid from

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Categories: Fixed / Internet
Companies: Draka / Logica / Prysmian
Countries: Netherlands
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