Dusseldorf-based Metro gets takeover offer from Czech billionaire

The bidders said Metro needs to make changes to its organisation, business and processes to keep competing in a changing landscape

Two investors in Metro AG launched a takeover offer for the German food distributor, saying they wanted to guide the company through its recovery. Dusseldorf-based Metro has received an acquisition offer from Czech billionaire Daniel Kretinsky’s EP Global Commerce VI GmbH and Slovak investment partner Patrik Tkac, according to a filing. The bid of euro 16per ordinary share and euro 13.80 per preferred share values the company at euro 5.8 billion ($6.6 billion).

“We are strongly convinced that Metro has all the prerequisites to be a long-term successful company,” Kretinsky said in a statement, adding that the buyers have