Reuters reveals valuation of German group Hella ahead of sale; market reacts - Reuters News Agency
Automotive

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.

Market Impact

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.



Article Tags
Topics of Interest: Automotive
Type: Reuters Best
Sectors: EquitiesTechnology
Regions: Europe
Countries: Germany
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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