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No Kuehne counter offer on table for Hamburg port operator – authority
Global Banking & Finance Review®
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BERLIN (Reuters) – The city of Hamburg’s economy authority said there was no counter offer on the table from billionaire logistics investor Klaus-Michael Kuehne for a majority stake in the HHLA port operator, in an emailed statement to Reuters on Thursday.
BERLIN (Reuters) – The city of Hamburg’s economy authority said there was no counter offer on the table from billionaire logistics investor Klaus-Michael Kuehne for a majority stake in the HHLA port operator, in an emailed statement to Reuters on Thursday.
On Wednesday, Kuehne, who owns a 30% stake in Hapag-Lloyd, said he was examining a public takeover bid of his own after Swiss-based MSC offered to buy almost half of the HHLA in a deal with the local Hamburg government.
(Reporting by Jan C Schwartz, Writing by Rachel More, Editing by Miranda Murray)
A public takeover bid is an offer made by an investor to purchase a majority stake in a company, typically at a premium over the current market price, to gain control of the company.
A majority stake refers to owning more than 50% of a company's shares, giving the shareholder control over company decisions and operations.
A financial market is a marketplace where assets such as stocks, bonds, currencies, and derivatives are traded, facilitating the exchange of capital and liquidity.
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