30 October 1997: The extraordinary general meeting (EGM) of the German refractory products manufacturer Didier-Werke AG of Wiesbaden held on 18 October ended in angry scenes and supervisory board chai…
30 October 1997: The extraordinary general meeting (EGM) of the German refractory products manufacturer Didier-Werke AG of Wiesbaden held on 18 October ended in angry scenes and supervisory board chairman Walter Ressler brought the meeting to a close at 11.20 pm, according to a Didier spokesperson. It was intended that the EGM should give its approval for a controlling agreement with Veitsch-Radex AG, a 100% subsidiary of Austria“s Radex-Heraklith Industriebeteiligungs-AG (RHI) group. It was initially assumed that the plan would be approved since Veitsch-Radex already has a majority 75.2% stake in Didier. Independent shareholders, however, rejected an offer of a guaranteed dividend of DM 4.80 or a guaranteed purchase price of DM 120 per share if they decided to sell.