DUESSELDORF, Germany Nov 29 Private equity firm
Advent International said it would not increase its 1.5 billion
euro ($1.9 billion) offer for German retailer Douglas,
even though it is a way from gaining enough shares.
"We will not add another cent to the 38 euros offered,"
managing director Ranjan Sen told Reuters on Thursday.
A regulatory filing showed shareholders representing 55.07
percent of Douglas' stock had accepted the offer.
Advent, which has teamed up with the Douglas founding family
for the bid, needs to cross the 75 percent threshold for the
offer to succeed.
Advent already had commitments from the family, plus two of
the retailer's big shareholders, giving it 50.5 percent.
The offer period runs until Dec. 4 and typically investors
only tender shares at the last minute.
"Dec. 4 is the decisive day," Sen said. "We hope that all
those involved share our belief that 38 euros a share is a very
Shares in Douglas were unchanged at 37.75 euros at 1425 GMT.
($1 = 0.7746 euros)
(Reporting by Matthias Inverardi; Writing by Victoria Bryan;
Editing by Helen Massy-Beresford)