BERLIN, March 29 (Reuters) - Family-owned German vacuum pump maker Busch hopes its increased offer for rival Pfeiffer Vacuum will allow it to start constructive talks with management after a previous attempt was rebuffed.
“With a premium of 28 percent, we’ve shown that we have taken notice of the previous criticism,” Busch manager Sami Busch told Reuters.
Busch earlier on Wednesday made a new offer of 110 euros ($118.29)a share, compared with a previous offer of 96.20 euros, that Pfeiffer had said was too low.
The company decided to increase its offer after Pfeiffer reported good results, Busch added. Pfeiffer makes pumps used by manufacturers including semiconductor firms and makers of analytical devices such as electron microscopes.
$1 = 0.9299 euros Reporting by Anneli Palmen; Writing by Victoria Bryan