NEWS Spütz chief executive Bernhard Freytag has advised shareholders to reject the takeover bid from the UK's NewMedia Spark. Hostile takeovers are rare in Germany, and the proposal has been criticised by the German takeover commission. Freytag told the Financial Times: "NewMedia Spark is a venture capital holding active in smaller technology, media, telecom and dot-com investments. For Spütz, a financial services group, there is no significant synergy effect." He also criticised the E8.50 (£5.28) price of the offer, which is worth less than the value of the group's holdings.
Spütz shutz the door to NewMedia Spark
Sparks fly in hostile takeover showdown...
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