June 24, 2019 / 2:28 PM / 6 months ago

Major shareholder wants to reject takeover offer for German store chain Metro: report

FILE PHOTO: German retailer Metro AG supermarket in Duesseldorf, Germany March 02, 2018. REUTERS/Thilo Schmuelgen/File Photo

BERLIN (Reuters) - Meridian Stiftung, a major shareholder in Metro (B4B.DE), wants to reject a takeover offer from EP Global Commerce - owned by Czech and Slovak investors - for the German chain as it believes the price offered per share is too low, a newspaper reported.

German regional newspaper Westdeutsche Allgemeine Zeitung said Meridian Stiftung did not want to end its commitment to Metro though, even for fundamental reasons. Meridian Stiftung holds a 14.19% stake in Metro.

Reporting by Michelle Martin; Editing by Douglas Busvine

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