May 7, 2019 / 2:30 PM / 17 days ago

Scout24 bidders reach 9.7 percent stake ahead of deal deadline

BERLIN (Reuters) - The private equity houses seeking to take over Scout24 said on Tuesday they had built up a 9.69 percent stake in the company as the clock ticked down on their tender offer to buy the Germany-based car and property classifieds group.

Hellman & Friedman and Blackstone must win majority support by May 9 for their offer to prevail. They have offered 46 euros per share, valuing Scout24 at 5.7 billion euros ($6.38 billion) including debt.

Reporting by Joern Poltz, writing by Riham Alkousaa, editing by Thomas Escritt

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