U.S. Hedge Funds Hinders Andritz

Businessn.a. ♦ Published: June 25, 2012; 17:04 ♦ (Vindobona)

The Austrian technology group Andritz plans a complete takeover of the German Schuler Group. The U.S. hedge funds Elliott Capital recently acquired a stake in Schuler.

U.S. Hedge Funds Hinders Andritz / Picture: © Andritz

International technology Group Andritz based in Graz, Austria,currenlty holds 63.5% in Schuler AG, headquartered in Göppingen, Germany. The price per share amounts to € 20.00 in cash. The Andritz Group has a net cash position of approximately € 1.3bn as of the end of March 2012 and is thus able to acquire Schuler AG out of its own financial resources.

Via a German affiliate,…