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Draka to explore offer from Xinmao

Monday 29 November 2010 | 09:38 CET | News
Dutch cable producer Draka said it has asked Xinmao to provide more information and documetns regarding its offer for Draka. Draka wants to look at the Chinese company's shareholders, debt and equity financing, as well as required regulator approvals including timing, in order to review Xinmao's proposed offer. Draka received the Xinmao offer on 23 November. The bid at EUR 20.50 per share cash, or a total of EUR 1 billion, beat the recent Prysmian bid at EUR 17.20 per share, or a total of EUR 840 million. Nexans earlier offered EUR 15 per share.

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Categories: Fixed / Internet
Companies: Draka / Nexans / Prysmian / Xinmao
Countries: World
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