0
Broadband

Draka receives unsolicited bid from Nexans

Monday 18 October 2010 | 11:12 CET | News
French cable manufacturer Nexans announced an agreement with the main shareholder of Netherlands-based cablemaker Draka to make a takeover offer for Draka. Flint Management, Draka's largest shareholder, agreed to tender its shares to Nexands under certain conditions, while Nexans agreed to launch a cash offer of EUR 15 per share for all of Draka. Draka's share rose over 36 percent to just over EUR 15 on 18 October after the bid was announced. The transaction would contribute to the consolidation of the cable sector, improve the competitiveness of Nexans' European asset base and reinforce its

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Fixed
Companies: Draka / Nexans
Countries: Netherlands / World
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Draka enters takeover talks with Xinmao

Published 24 Nov 2010 11:02 CET | Netherlands
Draka's supervisory board and management board will begin takeover talks with Tianjin Xinmao. The talks will centre on the logic, ...

Draka receives new takeover bid from Tianjin Xinmao

Published 23 Nov 2010 09:35 CET | Netherlands
Chinese company Tianjin Xinmao also wants to acquire Dutch cable producer Draka, a Draka spokesperson confirmed to Telecompaper. ...

Prysmian makes successful counter offer for Draka

Published 22 Nov 2010 08:44 CET | World
Energy and telecommunication cable specialist Prysmian Cables & Systems intends to make a bid for Dutch cable producer Draka at ...

Nexans Q3 telecom sales slide, still interested in Draka

Published 28 Oct 2010 10:45 CET | World
French cable maker Nexans saw sales in the telecommunications industry fall 0.5 percent to EUR 109 million in the third quarter. ...

Draka rejects Nexans offer

Published 27 Oct 2010 08:56 CET | World
Draka has rejected the takeover bid from Nexans, saying it "substantially undervalues" the company. The Netherlands-based ...

Draka hires advisers to look at Nexans offer

Published 20 Oct 2010 15:54 CET | World
Netherlands-based cablemaker Draka said it has now received an unsolicited, indicative, non-binding proposal to be acquired by ...

Nexans wil overnamebod Draka doen

Published 18 Oct 2010 12:29 CET | World
Het Franse kabelbedrijf Nexans heeft een contract getekend met de belangrijkste aandeelhouder van kabelleverancier Draka om een ...

Draka goes on sale - report

Published 14 Oct 2010 10:48 CET | Netherlands
Dutch cable producer Draka's majority shareholder Flint Management wants to sell its 43.9 percent stake in the company and has ...

Draka sees communication cable ops rebound as H1 sales rise

Published 19 Aug 2010 09:25 CET | Netherlands
Dutch cable producer Draka said it sees signs of cautious recovery in several cable market segments, after reporting revenues for ...