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Marel is standing firm against Candover’s bid for Stork and does not expect talks to move forward until after Stork releases its results on 25 July.
On 6 July Icelandic Marel, which holds close to 20% of Dutch listed industrial Stork, said it would not accept a EUR 47 offer from Candover. It was also understood at this time that Marel hoped to reach a compromise in which it could acquire Stork’s food systems business. It is thought Marel at the time had already met with Candover and was planning to request a meeting with Stork’s supervisory board.
It is understood that Marel is still working on this compromise, although nothing new has happened yet.
It is believed that Marel does not expect it to move forward until after Stork releases its results next Wednesday 25 July as it is busy preparing its results.
A Stork spokesperson agreed that the company was focusing on its half year results which will be released next Wednesday. The spokesperson did not comment on the subject of Marel or any talks with them.
The Stork spokesperson said that they had not heard about any counter-bid for Stork despite the rumours. Marel is believed to have spoken with private equity firms in the past about a possible joint counter-bid for Stork.
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