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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

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Categories: Fixed
Companies: Draka / Nexans
Countries: Netherlands / World
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