Grupo Mexico Folds GAP Takeover Bid

Grupo Mexico Folds GAP Takeover Bid

Mexico M&A

Mexican miner and railway operator Grupo Mexico has decided to desist in its takeover pursuit of the Grupo Aeroportuario del Pacifico (GAP), it says. The company notified regulators that it will no longer pursue its public offer for shares of GAP, which it launched in June 2011. Back then, the conglomerate owned a 20% stake in class B shares when it launched a MXP50.00 ($3.90) per share tender offer to GAP shareholders in a bid for control. A Grupo Mexico spokesperson declines to offer additiona

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