Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

France’s Vallourec May Become Takeover Target, Investir Reports

Don't Miss Out —
Follow us on:

May 12 (Bloomberg) -- 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.

To contact the reporter on this story: Albertina Torsoli in Paris at atorsoli@bloomberg.net

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.