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Protector of Austrian Industry Jewels Turns Into Raid Target

  • B&C says Austrian investor Tojner started hostile takeover
  • Tojner said to win Andritz’s Leitner, KTM’s Pierer as backers
Michael Tojner
Michael TojnerSource: Montana Tech Components
Updated on

A trust that sees its job as protecting Austrian industry from foreign raiders, says it’s become the target of a raider itself -- and one from home.

B&C Privatstiftung, the owner of more than 2.1 billion euros ($2.4 billion) of Austrian industry stakes, is in the sights of Austrian investor Michael Tojner, whose hostile takeover attempt is backed by B&C founder UniCredit SpA, the foundation said over the weekend. Tojner’s effort is well-connected and advanced, according to weekly magazine Trend.