Gamma Holding NV, the world’s second-biggest maker of conveyor belts, is in talks with Dutch private equity firm Gilde Buy Out Partners BV about a possible takeover offer.
Gilde may bid 29 euros per share, according to Helmond, Netherlands-based Gamma. That’s equal to about 218 million euros ($289 million), Bloomberg calculations show.
Gamma stock surged as much as 10 percent to 29.50 euros in Amsterdam trading, the biggest jump since June 18. That was the day that Gilde announced it bought a 19 percent stake in Gamma.
Gilde, which manages funds of more than 1.3 billion euros, with a focus on continental Europe, has increased its stake in Gamma to 23.6 percent. Gamma, whose belts print small palm trees at the bottom of coconut-flavored Bounty chocolate bars, in September sold its unit that makes exotic fabrics used for the west African clothing market, reducing debt.
Gamma, which also provides filtration products for chemical companies, rose 5.6 percent to 28.30 euros at 1:58 p.m. in Amsterdam trading, giving the company a market value of about 214 million euros.