Metro: boards recommend shareholders decline EPGC offer

(CercleFinance.com) - Metro's management board and supervisory board recommended on Wednesday that its shareholders do not tender their shares following an offer from EPGC, a holding company of Czech billionaire Daniel Kretinsky.


In a statement, the German retailer said that the offer "substantially undervalues" the company relative to its earnings and value potential.

Yesterday Metro posted like-for-like sales growth of 2.3% for the first nine months of its 2018/19 financial year.

The Frankfurt-listed shares of Metro are currently down 0.4% at 15.5 euros.

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