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Computerlinks Rises the Most Since 1999 on Buyout Bid (Update3)

By Andreas Hippin

June 17 (Bloomberg) -- Computerlinks AG, a German computer- equipment maker, jumped the most since its 1999 initial public offering in Frankfurt trading after Barclays Private Equity made a 104.3 million-euro ($162 million) takeover bid.

Computerlinks soared 3.92 euros, or 35 percent, to 15.08 euros. Barclays Private Equity offered 15.50 euros a share, it said in a statement today. The voluntary offer is subject to regulatory approval and an acceptance rate of 75 percent.

Chief Executive Officer Stephan Link founded Computerlinks, which distributes hardware and software for companies including Check Point Software Technologies Ltd., Citrix Systems Inc. and Nokia Oyj, in 1983. The CEO may sell his stake, he said today on a conference call with journalists. Link owns 5.2 percent of the company, according to Bloomberg data.

``The company has a sound management and the stock is cheap after a long slide,'' said Stefan de Schutter, an analyst at alpha Wertpapierhandel in Frankfurt. ``The offer may be disappointing for long-term shareholders who bought the stock at a much higher price though.''

Before today, Computerlinks had fallen 33 percent from last year's high. The stock sold for 6.6 times earnings for the past 12 months, compared with 54.6 for the Technology All Share Performance Index.

``We will study the offer carefully,'' Link said on the call. Computerlinks hasn't received the final version of the bid, he said. ``Barclays Private Equity is a good name and a strong partner to support the company on its path to future growth.''

To contact the reporter on this story: Andreas Hippin in Frankfurt at ahippin@bloomberg.net.

Last Updated: June 17, 2008 12:14 EDT

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