June 23, 2019 / 9:11 AM / a month ago

Germany's Metro says takeover offer undervalues company

FRANKFURT, June 23 (Reuters) - Metro said on Sunday that EP Global Commerce’s unsolicited offer to take over the German retailer substantially undervalues it and advised shareholders to hold off on taking action until management comments further.

On Friday, EP Global Commerce, an acquisition vehicle owned by Czech and Slovak investors, made the takeover offer, which valued the company at 5.8 billion euros ($6.6 billion). ($1 = 0.8798 euros) (Reporting by Tom Sims Editing by Keith Weir)

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