Deals
Billionaire Said to Weigh Raising Metro Bid Facing Rejection
- Investor to meet with groups opposing offer for wholesaler
- Bidding group says rumors of EU17/share bid are ‘incorrect’
Photographer: Tolga Akmen/AFP via Getty Images
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Czech billionaire Daniel Kretinsky is exploring raising his offer for German wholesaler Metro AG as the existing 5.8 billion-euro ($6.4 billion) bid faces a growing risk of rejection by shareholders, according to people familiar with the situation.
Representatives for Kretinsky are set to meet as soon as Monday with two key shareholders to discuss revising the offer, according to the people, who asked not to be identified because the proceedings are private.