Rhoen-Klinikum shareholder files case against AGM vote

FRANKFURT Tue Jul 9, 2013 1:44pm EDT

The logo of German healthcare company Rhon-Klinikum AG is pictured in Bad Neustadt near Fulda September 3, 2012. REUTERS/Alex Domanski

The logo of German healthcare company Rhon-Klinikum AG is pictured in Bad Neustadt near Fulda September 3, 2012.

Credit: Reuters/Alex Domanski

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FRANKFURT (Reuters) - B. Braun Holding, an investor in Rhoen-Klinikum (RHKG.DE), said it had filed a case on Tuesday contesting a shareholder vote to remove a barrier to the German hospital operator being taken over.

Rhoen's owners unexpectedly voted last month to scrap a requirement in its bylaws for shareholders holding 90 percent of its capital to approve major decisions, such as a takeover of the company.

The vote may have put Rhoen back in the sights of healthcare group Fresenius (FREG.DE), whose 3.1 billion euro ($4.1 billion) takeover attempt was thwarted last year.

However, the motion was passed only after votes belonging to medical supplies maker B. Braun, who had opposed the Fresenius deal, were dismissed as invalid by Rhoen's Chairman and founder Eugen Muench - who had originally invited Fresenius to bid.

B. Braun filed the case with the regional court of Nuernberg-Fuerth. Another Rhoen-Klinikum shareholder had submitted on Monday a complaint against the resolution approved at the company's annual shareholders meeting in June.

A spokesman for the court did not identify the shareholder who had filed the case on Monday.

(Reporting by Frank Siebelt; Writing by Marilyn Gerlach; Editing by Keiron Henderson and Pravin Char)

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