December 10, 2012 / 8:41 AM / 5 years ago

Curanum says supports Korian bid in principle

FRANKFURT, Dec 10 (Reuters) - German care home Curanum AG said on Monday it would support in principle the takeover offer from French peer Korian.

“Such a transaction would basically make sense from a strategic perspective for both its employees and the company since both groups’ activities and their respective regional coverage would complement each other beneficially,” the company said on Monday, adding that both companies had previously been in confidential discussions.

Curanum would review the offer document, which is to be submitted within the next four weeks, before issuing a detailed opinion, it added.

Korian said earlier on Monday it plans to make a takeover offer of 2.50 euros per share for Curanum, as it seeks to expand in the largest European market for retirement homes. (Reporting by Ludwig Burger)

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