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Draka rejects Nexans offer

Wednesday 27 October 2010 | 08:56 CET | News
Draka has rejected the takeover bid from Nexans, saying it "substantially undervalues" the company. The Netherlands-based cablemaker said the offer does not address the position and legitimate interests of all stakeholders, nor the execution risk of the transaction as proposed by Nexans. Nexans had earlier reached an agreement with Draka's main shareholder Flint Management to accept an offer of EUR 15 per share. Draka said it will actively review its strategic alternatives, including continuing its stand-alone strategy, and will evaluate these alternatives taking into account the interests of

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