Macquarie launches bid for Techem

Macquarie Bank PLC says it now controls 75.8% stake in Techem AG as it announced its 60 eur per share takeover offer for the German utilities billing company is valid from today until December 3.

The Australian bank said on Octoner 22 it was renewing its takeover offer, after an initial attempt collapsed in March.

Techem’s management has previously said it welcomes the offer.