Exclusive Exclusive: Edeka Supermarket Chain to Meet Government's Conditions For Tengelmann Takeover Bid
German supermarket chain Edeka is still set on purchasing rival grocery chain Kaiser’s Tengelmann, even in the face of tough prerequisites for going ahead with the deal set by Sigmar Gabriel, the economics minister, Handelsblatt has learned. Edeka wants to tackle Mr. Gabriel’s demands “as soon as possible and with due diligence,” a source within the company told Handelsblatt. But talks with labor representative are expected to be difficult and lengthy, according to insiders, and results are not expected before late February. Edeka is set to make an official statement on Tuesday responding to Mr. Gabriel’s conditions for the deal to go ahead. Afterwards, the economics minister will make a final call on whether or not the takeover can proceed.
01/25/2016 - 05:53 PM