Belgian glassmaker to oppose a takeover bid from Asahi Glass

Shareholders holding about 12% of Belgian glassmaker Glaverbel have banded together to oppose a takeover bid from Asahi Glass for the 35% of Glaverbel not owned by Japan's largest glass company.

The investors, who include international hedge fund and large Belgian financial institutions, say Asahi's E145 a share offer is too low. The deal highlights the risks investors face in residual takeovers. Most European countries give little protection for shareholders in companies where majority owners attempt a squeeze-out. Asahi's bid for Glaverbel is a case in point. Investors have little recourse to force Asahi to up its offer. However, if investors win a challenge to Asahi, it may set a precedent for other minority buyouts.

600450 Belgian glassmaker to oppose a takeover bid from Asahi Glass

See more news about:

Others also read

The EVERLAM™ SUPER TOUGH elephant featured prominently and triggered a lot of curiosity.
Two exclusive foreign distributors, Holdfast NZ Ltd. in New Zealand and Joints Oy in Finland, will enable Soudal to grow locally.
Glass for Europe welcomes today’s release by the European Commission of the ’Clean Planet for All’ communication on a European strategic long-term vision for a climate neutral economy [1], which marks the start of an inclusive debate.
To create a new future of glass, NSG Group looks forward to working with you for the next 100 years.
NSG Group announced that its Metashine®-printed glass was selected for train-side passenger window of Seibu Railway’s new express train “Laview,” which is scheduled to begin operation in March 2019.
EVERLAM presents EVERLAMTM COOL — its new high-performance PVB film for use in laminated glass, which provides high protection against infra-red light.

From industry

Schaliënhoevedreef 20-D,
2800 Mechelen

Add new comment