Reuters reveals valuation of German group Hella ahead of sale; market reacts

Reuters delivered exclusive and market-moving coverage in the run-up to Germany‘s second-largest M&A deal so far this year: the sale of automotive lighting group Hella. Shares in the firm fell as much as 6.2% after Reuters reported bids would be submitted at around 60 euros per share, and they fell another 4.4% a day later after sources confirmed that offers had actually been made at that price. The share price correction came after reports earlier in the week said a deal could value Hella at 70 euros per share or more. Over the weekend, Hella confirmed a bid of 60 euros per share that values the firm at 6.8 billion euros, four days after Reuters first reported the sum.