France’s Vallourec May Become Takeover Target, Investir Reports

Vallourec SA’s recent share price decline may make it a takeover target, Investir reported today, without saying how it obtained the information.

The French producer of steel pipes for the oil and gas industry tumbled 20 percent to 34.30 euros in Paris trading yesterday, the most since at least 1989, after cutting its forecast for sales growth by half and missing profit estimates.

At 34 euros ($43.92) a share, the Boulogne-Billancourt, France-based company could become attractive for French billionaire investor Vincent Bollore or some other business seeking a bargain, the French weekly newspaper reported.

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