Dürr to submit offer of cash payment to Schenck minority shareholders
10/29/1999
Dürr AG, Stuttgart, agreed on 28th October 1999 with Harald Quandt Beteiligungsverwaltung, Bad Homburg, to acquire a 76.4% share of Carl Schenck AG, Darmstadt; 51.4% of which are held by AGIV AG, Frankfurt/M.
This acquisition is yet to be approved by AGIV's shareholders' meeting which will be held on 17th November 1999. As soon as an approval is given, Dürr AG will submit a bid to Carl Schenck AG's external shareholders. The bid price will be euro 115 per share.
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