December 20, 2017 / 9:28 AM / a year ago

Hedge fund Knight Vinke takes stake in M&A target Uniper

FRANKFURT, Dec 20 (Reuters) - Hedge Fund Knight Vinke has taken a 5.02 percent stake in Uniper, adding it would not tender that stake to Finland’s Fortum as part of its 8.05 billion euro ($9.54 billion) takeover offer that runs until Jan. 16, 2018.

Knight Vinke is the second activist investor to take a stake in Uniper this month, following Elliott Management, which a day earlier said it had raised its holding to 7.38 percent.

Knight Vinke said it was not acting in concert with any other shareholder.

The move comes ahead of plans by E.ON, Uniper’s former parent, to tender its remaining 46.65 percent stake in Uniper to Fortum for a fixed price of 22 euros per share by Jan. 11, 2018, which is below the 26.16 euros apiece it is trading at.

The offer extends to all Uniper shareholders under German takeover rules. ($1 = 0.8440 euros) (Reporting by Christoph Steitz; Editing by Ludwig Burger)

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