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UK F&C Asset Management to offer EUR 12.50 P/S for Austrian C-Quadrat.

(ADPnews) - Mar 9, 2010 - UK-based F&C Asset Management (LON:FCAM) has resumed negotiations with Austrian fund manager C-Quadrat Investment AG (ETR:C8I) about the possible takeover of the latter, setting a price of EUR 12.50 (USD 17.02) per share.

F&C's announced its takeover plans in December 2009, but it is free to make a bid for C-Quadrat now, after the Austrian Takeover Commission has ended the blocking period for potential bids.

It is still not certain that F&C would submit a public offer of EUR 12.50. A potential bid would be launched on condition that the founders of C-Quadrat, Alexander Schuetz and Thomas Riess, remain in the company's management. They currently hold stakes of 23.7% and 23.3%, respectively, in C-Quadrat via private foundations.

A major shareholder in C-Quadrat is Austrian investment company AvW Group, which owns 32.6% of the fund manager's stock.

A future deal between F&C and C-Quadrat would need the blessing of the responsible authorities in Germany and Austria as well as of the United Kingdom Listing Authority.

F&C has said also it aimed at continuing C-Quadrat's investment strategy as well as the company's current business model in case of a takeover.

C-Quadrat's shares, which are listed on the stock exchanges in Frankfurt and Vienna, were trading down 6.74% at EUR 12.59 on the Xetra platform of the Frankfurt Stock Exchange at 1032 CET on Tuesday. On the Vienna Stock Exchange the shares were last traded yesterday at 1335 CET, when they were up 14.29% to EUR 12.

(EUR 1.0 = USD 1.359)

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Publication:ADP News Austria
Date:Mar 9, 2010
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