KKCG Maritime, which currently owns 14.5% of Ferretti, is seeking to double its stake and push for changes to a board appointed by the yacht maker’s China-based controlling shareholder, Weichai.
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KKCG last week raised its offer to 3.90 euros per share from 3.50 euros, saying it would not increase the bid any further.
Ferretti shares closed at 4.10 euros on Thursday and have risen about 13% since KKCG launched the offer in January.
In a split decision, Ferretti’s board said the revised consideration of about 203.3 million euros was
Ferretti board says sweetened KKCG Maritime offer ‘not fair or reasonable’
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