Mexichem Rebuffed As It Ups Offer For Wavin

Mexichem Rebuffed As It Ups Offer For Wavin

Mexico Europe M&A

Mexichem has improved an unsolicited offer for Dutch pipemaker Wavin, but saw the move rejected by the target company. The Mexican petrochemical company offered EUR9.00 in cash per ordinary share of Wavin, up from the EUR8.50 offered on November 22. Although “certain progress has been made on non-financial items...the proposed offer price of EUR9.00 per share is not acceptable as this price materially undervalues the company and its prospects,” say Wavin. At EUR9 per share, Mexichem is assigning

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