Germany“s Schott Spezialglas GmbH is offering over Euros 180 per no nominal value share for the 6.9% of Schott Desag AG (Gruenenplan) share capital still in broad ownership. This price is 29.5% above…
Germany“s Schott Spezialglas GmbH is offering over Euros 180 per no nominal value share for the 6.9% of Schott Desag AG (Gruenenplan) share capital still in broad ownership. This price is 29.5% above the Euros 139 quoted average of the past twelve months. Schott has been the majority shareholder in Desag since 1930. Its holding reached 84% at the beginning of the 1990s and now stands at 93.12%. Desag suffered a 6% decline in turnover to DM 98.3 million in the first six months of the 1998/99 financial year (30 September). Ordinary operating profits increased to DM 9.2 million (6 million) on account of exceptional earnings.