DUISBURG (dpa-AFX) - The Management Board and the Supervisory Board of Kloeckner & Co SE (KCO) recommended shareholders not to accept the voluntary public takeover offer by SWOCTEM GmbH. The Management Board and the Supervisory Board have independently concluded that the amount of the offer price of 9.75 euros in cash per Klöckner & Co share is not adequate.
SWOCTEM GmbH has stated that it intends to increase its existing shareholding in Kloeckner & Co SE to above 30% to obtain more flexibility for future share purchases.
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