EP Global Commerce VI GmbH said Aug. 5 that it is not planning to raise or lower its offer to buy German wholesaler Metro AG, despite admitting that the discussions it had with Metro's top investors were not successful.
EP Global is the investment vehicle owned by Czech investor Daniel Kretinsky and Slovak investor Patrik Tkac.
The firm's statement refutes a report by Bloomberg News that said Kretinsky is exploring raising his offer from the current €5.8 billion after Metro shareholders appeared to have snubbed the takeover offer.
"EPGC confirms that it will neither increase the offer price, nor lower the minimum acceptance threshold, nor otherwise amend the offer," EP Global said in a statement.
The confirmation came in the same release in which the firm disclosed that its talks with Metro's top investors, Meridian Foundation and Beisheim Group, were "constructive but not successful."
Meridian and Beisheim have earlier teamed up to raise their equity interest in Metro in an attempt to oppose EP Global's takeover bid.
EP Global said in its statement that the firm, Meridian and Beisheim have different views on Metro's valuation, and are unable to find a common ground for an agreement. It maintained its view that Metro "would significantly benefit from a simplified shareholder structure under clear leadership with a long-term strategic view."
