Deals
Klepierre Offers to Buy Competitor Corio for $5.6 Billion
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Klepierre SA offered to buy Dutch competitor Corio NV for about 4.2 billion euros ($5.6 billion) to solidify its position as Europe’s second-largest publicly traded-shopping mall operator as euro region economies recover.
Klepierre bid 1.14 of its stock for each Corio share, valuing Corio at 41.4 euros a share, the companies said in a statement today. That’s 15.5 percent more than Corio’s closing share price yesterday.