Wholesaler Metro AG has said that an unsolicited voluntary takeover offer for the business by EP Global Commerce (EPGC) 'substantially undervalues' the firm, with respect to its earnings and value potential.
EPGC, which is led by shareholder Daniel Křetínský, made the offer to acquire the business on 10 July, at an offer price of €16.00 per Metro ordinary share and €13.80 per Metro preference share.
