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Hochtief prepares defense against Spanish takeover bid | Business | Deutsche Welle | 13.10.2010

Threatened by a possible hostile takeover, German construction giant Hochtief has enlisted help from the political establishment. The Spanish construction company ACS - which is already the company's largest single shareholder with a nearly 30 percent stake - announced its takeover plans last month.

SPD party leader Sigmar Gabriel will visit Hochtief's headquarters in Essen on Thursday to meet with its works council and gather information about the situation. ACS is set to submit its offer to Germany's financial regulator, BaFin, for review on the same day.

by In Wales (inwales aaat eurotrib.com) on Thu Oct 14th, 2010 at 11:42:42 AM EST
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