BERLIN (dpa-AFX) - Heidelberger Druckmaschinen AG (HBGRF.PK) said Tuesday that its planned takeover of the MBO Group will not go ahead following the announcement by the German Federal Cartel Office of its decision to block the planned takeover.
Both Heidelberg and MBO said they regret the German Federal Cartel Office's decision to block the planned takeover. The companies will continue to run their businesses separately and independently.
Heidelberg CEO Rainer Hundsdörfer, said, 'The two companies remain convinced that integrating the offerings of MBO would have given customers added benefits in terms of smooth industrial processes in the digital future. Following the ruling, both companies will continue to run their businesses separately and independently as before.'
In October 2018, Heidelberg publicly announced its intention to take over the MBO Group and concluded an agreement with the owning family. This agreement was then submitted to the Federal Cartel Office for approval and had been under review since that time.
Heidelberg said that even though the takeover of the MBO Group is not going ahead, it will continue to pursue its strategy of further developing its postpress portfolio in the direction of industrial-scale postpress operations. This includes the successful positioning of the Stahlfolder TH / KH series folding machines, especially the patented P-class.
In addition, Heidelberg will invest in a new way of improving transparency in postpress production control for all products. In parallel to this, the company is systematically aligning new business models with the growth segments of digital and packaging as well as tapping into new customer groups for its entire product range.
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