Schmolz + Bickenbach AG directors reject Renova’s first takeover offer

Schmolz + Bickenbach AG’s board of directors has rejected the first of two takeover offers made by industrial investor Renova, the Switzerland-listed stainless steelmaker said on Monday August 5.

Renova teamed up with S+B AG subsidiary Schmolz+Bickenbach KG, which represents the stainless company’s founding families, to launch a takeover bid on July 12 at SFr2.85 ($3.065) per share.

At the moment, the joint shareholding in S+B AG held by Renova and S+B KG comes...


August 05, 2013

13:33 GMT