France’s Vallourec May Become Takeover Target, Investir Reports
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 (BOL) or some other business seeking a bargain, the French weekly newspaper reported.
To contact the reporter on this story: Albertina Torsoli in Paris at firstname.lastname@example.org
To contact the editor responsible for this story: Phil Serafino at email@example.com