Metro Rejects Berggruen’s Bid for Kaufhof, Handelsblatt Reports

Metro AG (MEO) has rejected a bid by Nicolas Berggruen for its Kaufhof department-store chain, Handelsblatt reported today, citing people familiar with the matter.

Berggruen’s offer was rejected at the end of last week because of unclear financing for Kaufhof’s real estate, the newspaper said, citing unidentified people in Metro’s mergers and acquisitions team.

To contact the reporter on this story: Allison Connolly in Frankfurt at aconnolly4@bloomberg.net.

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net.

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