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Germans win battle for AAH
- Article from:
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The Independent - London
- Article date:
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May 3, 1995
- Author:
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Copyright informationCopyright 1995 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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BY MAGNUS GRIMOND
The German pharmaceuticals group GEHE yesterday emerged
victorious in its pounds 400m battle for control of AAH, Britain's
leading drugs wholesaler.
But the bid was thrown into some confusion almost as soon as
GEHE declared its offer "unconditional as to acceptances" after
winning the backing of owners of close to 65 per cent of the
shares.
Despite the clear majority in favour, AAH said it could not
advise shareholders to accept the 445p a share offer as GEHE was
unable to say its offer was unconditional in all respects until the
board of its UK subsidiary had met. Technically, the bidder could
allow the offer to lapse if the detailed legal conditions of the
bid had not ...