Metro takes over the second largest Portuguese food supplier Aviludo. At the same time, Metro’s major shareholder EPGC is expanding its shares – but its public takeover bid to Metro shareholders is not supported by the Management and Supervisory Boards. The offer takes into account neither the current value of the company nor the transformation process of the MDax Group which has already been carried out, the boards announced. […]
Advisor to the Metro Supervisory Board on the takeover bid:
Berner Fleck Wettich (Düsseldorf): Dr. Carsten Wettich, Dr. Olaf Berner (both Corporate/M&A) – well known from the market
Background:
[…] The Supervisory Board, which is otherwise supported in its daily work by the head of the Corporate Office, General Counsel Bost, again called in the Düsseldorf corporate boutique Berner Fleck Wettich for the valuation of this low-threshold offer – it is a so-called low ball offer. The unit, founded by former Hengeler lawyers, had prevailed in a pitch in 2019.
For the complete report (in German) click here.