Upper Austrian concern Greiner gives up takeover of Recticel – company

Kremsmünster – The Upper Austrian plastics and foam manufacturer Greiner is finally giving up the takeover of its Belgian rival Recticel. The family business from Kremsmünster had met with bitter resistance from the Recticel board with its purchase offer worth around 750 million euros. Greiner also flashed the stockholders’ offer, which was recently well below the stock market price: only 0.17 percent offered their shares, as Greiner announced on Tuesday.

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