Robert Bosch Investment Nederland on verge of taking over brake manufacturer Pacifica Group
Robert Bosch Investment Nederland is on the verge of taking over automotive brake manufacturer Pacifica Group after an independent report concluded a bid from Bosch should be accepted.
Robert Bosch offered Pacifica shareholders 23 cents per share, above the company’s closing share price of 16 cents when it ceased trading on June 15.
In his letter to shareholders, independent analyst Patrick Burroughs from Deloitte Corporate Finance valued the Pacifica Group’s shares between “nil and 19 cents” each and says the likelihood of an alternative offer for Pacifica is very low given Bosch’s current shareholding in the firm.
Bosch already owns 77 percent of the Pacifica due to a takeover offer in 2006 and subsequent market purchases.