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Europe shares halt rebound; Nutreco jumps after SHV bid
October 20, 2014 / 7:21 AM / 3 years ago

Europe shares halt rebound; Nutreco jumps after SHV bid

PARIS, Oct 20 (Reuters) - European shares dipped in early trading on Monday as the previous session’s sharp rebound lost steam, although takeover activity boosted the shares of Nutreco , Adidas and Havas.

At 0714 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 1,277.64 points, after surging 2.8 percent on Friday following reassuring U.S. macroeconomic data.

Shares in Dutch animal feed and nutrition company Nutreco jumped 38 percent after SHV, a privately-held Dutch investment firm, said it had reached a conditional agreement to acquire the group for 40 euros ($51) per share, or 2.69 billion euros.

German sportswear firm Adidas AG surged 5.6 percent after the Wall Street Journal reported that an investor group, that includes Jynwel Capital and funds affiliated with the Abu Dhabi government, was planning a $2.2 billion bid to buy Reebok.

Havas also rose 5.8 percent after French tycoon Vincent Bollore launched an exchange offer on the stock on Friday with a view to gaining control of the world’s sixth-largest advertising company. (Reporting by Blaise Robinson; Editing by Sudip Kar-Gupta)

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