February 10, 2017 / 12:03 PM / 10 months ago

KKR's GfK bid short of minimum level ahead of midnight deadline

FRANKFURT, Feb 10 (Reuters) - Shareholders in GfK have tendered 14.5 percent of stock in the German market researcher to private equity firm KKR, still short of a minimum threshold only hours before KKR’s offer expires, a regulatory filing showed on Friday.

KKR has offered 43.50 euros per share for GfK, valuing the group at around 1.59 billion euros ($1.7 billion).

KKR is seeking to acquire control over at least 75 percent of the group together with GfK Verein, which already owns 56.46 of shares. That means shareholders must tender at least 18.54 percent of stock by the time the offer runs out at midnight (2300 GMT) on Friday for KKR’s bid to succeed.

Meanwhile, rival investor Michael Dell has built a holding of 10.1 percent of GfK, regulatory filings have shown.

$1 = 0.9394 euros Reporting by Maria Sheahan; Editing by Harro ten Wolde

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below