September 3, 2018 / 5:57 AM / 3 months ago

Belgian diaper maker Ontex rebuffs revised takeover bid from PAI

Sept 3 (Reuters) - Belgian diaper manufacturer Ontex said on Monday it rejected a proposed cash offer for its outstanding shares from private equity firm PAI Partners.

The updated indication of interest from PAI Partners was below the value of their previous proposal, Ontex said.

Both companies consider the matter closed, the Belgian firm added. (Reporting by Camille Raynaud in Gdynia, Editing by Sherry Jacob-Phillips)

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