The unfolding takeover battle for Dutch cable maker Draka Holding NV is turning political amid fears that China's ambitions and Europe's tough stance on cartels could undermine European cable makers' competitiveness, as reported in the business pages of The Wall Street Journal.
Worries stem from Chinese company Tianjin Xinmao Science & Technology Investment Group's €1 billion ($1.31 billion) offer to acquire Dutch cable maker Draka. The privately held Xinmao swooped unexpectedly, after Draka had already agreed to be acquired by Italy's Prysmian Spa. The bid also trumped an offer from France's Nexans SA.
Reuters has provided a useful chronology of developments in attempts to acquire the Dutch company.
Here's a round-up of related news links:
Prysmian CFO Facchini Confident of Draka Deal (Bloomberg)
Prysmian, Draka Defend Deal Against Chinese Counterbid (Wall Street Journal)
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