Deals
Hochtief Creates Special Board Panel for ACS Defense
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Hochtief AG, the target of a takeover offer by Spain’s largest builder, set up a special panel of supervisory board members excluding the two Spaniards representing the suitor as it seeks to bolster defenses.
The panel, called an ad-hoc committee under German law, was created yesterday, Christian Gerhardus, a spokesman at Essen, Germany-based Hochtief, said today in a phone interview.