Talk of Vendex takeover

International investment funds are interested in Vendex, a retailing group in the Netherlands. According to an announcement from the group itself, several companies have already submitted their ideas for a total takeover. The initial information suggests they could offer around € 14 per share. Yesterday’s price quoted in Amsterdam came to € 11.41. The stock market has already reacted with a price jump of more than 17 per cent to start with. The overall purchasing price would amount to € 1.28 bn.
Over the last six months the group’s DIY retail division has recorded shortfalls for the first time for quite a while. However, the division generated a slightly improved operating result when the entire financial year (to 31 January 2004) is looked at.