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Foundry Daily News

05. April 2007

Rival bid for Boehler-Uddeholm

expected around April 16 - report

An unknown investor is said to hold a substantial tranche of Boehler-Uddeholm shares and is planning a rival takeover offer around April 16, the day the Takeover Commission is expected to give the go-ahead to voestalpine's offer, according to the Austrian daily Kurier.

Russian oligarch Viktor Vekselberg, who has a 16 bln usd fortune, is named by Kurier in connection with the probable rival bid, which is expected to be in the region of 75 eur a share.

Fellow Austrian company voestalpine stepped in as a white knight to save Boehler from falling into foreign hands two weeks ago after London-based CVC Partners had made a friendly takeover offer for the special steel company.

At 69 eur a share, and a special dividend of 2.05 eur a share, voestapline's offer remains shy of Boehler's current price of around 72 eur. The chief executive of voestalpine, Wolfgang Eder, has said the company will not enter into a bidding war.

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