Home » Rexel Still Considering Whether to Change Bid for Hagemeyer
Rexel Still Considering Whether to Change Bid for Hagemeyer
December 18, 2007
French electrical distributor Rexel is still looking at whether it will lower or drop its bid for Dutch rival Hagemeyer NV, according to Reuters news service. The question comes after Hagemeyer was ordered to pay & euro; 50 million in advance damages over the bankruptcy of a former subsidiary.   ; The Financial Times in London however said Rexel was pushing ahead with its & euro; 3.1 billion takeover offer. The Reuters article contradicted that report.   ; Still, Hagemeyer has said the details about the lawsuit were public, as well as the timing of the case. The Financial Times said that Hagemeyer in its 2006 annual report estimated damages in the case to be & euro; 160 million.