White knight from Twente comes to the rescue of Neways against VDL | Financial

According to Stodel, Ten Doeschot himself reported to Neways. Ten Doeschot’s investment company Infestos wants to acquire 60% of the shares and maintain the stock exchange listing of Neways, according to a press release that Neways published on Thursday evening.

The management of Neways previously rejected a bid from VDL of €12.50 per share, while major shareholder ZBG Capital, which holds 28%, had agreed. Since VDL already owned 27% of the shares, the impression was then that the takeover by the industrial group from Brabant would be a runaway race. However, the management and a few smaller shareholders threw up their sleeves because the offer was said to be too low, after which VDL made a hostile bid of €13. However, it didn’t get along with that either.

With the significantly higher offer, Infestos hopes to persuade ZBG Capital to sell its shares to him. A deal with ZBG is one of the conditions for the offer to be declared unconditional. Whether other shareholders are excited remains to be seen. Hilco Wiersma of Add Value Fund, which owns 5% in Neways, previously believed in De Telegraaf that VDL wanted to be ‘first rank for a dime’ with his €13. He believed that the value should be somewhere ‘between €17 and €21’.

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