Rail

Deutsche Bahn launches takeover bid

Posted on July 5, 2002

Deutsche Bahn, Germany's national railroad, is launching a takeover bid for Stinnes AG, a logistics company majority owned by utility giant E.On AG. The state-owned Deutsche Bahn said it would offer $32.31 per share, a deal under which E.On said it would receive roughly $1.58 billion, reported the Associated Press. Deutsche Bahn plans to put Stinnes in charge of its logistical operations. The transaction requires approval from German ministerial and European Union antitrust officials, said the AP.

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