Suspension of ricktisel trading | the weather
Has Recktisel finally prepared everything to fend off Austrian fighter Greiner?
Greiner bought Bois Sauvage’s stake (27%) in Recticel in May for € 13.50. It happened in the greatest secrecy, behind Rickettsil’s back.
The fact that Rickettsil and Greiner have only spoken to each other once, less than an hour, in all these months makes it clear that Rickettsell doesn’t care about Greiner’s developments. Recticel is concerned that Greiner will split the business and sell the insulation division to Irish Kingspan. Greiner had already teamed up with the Irish – behind Recticel, with whom it was still a joint venture at the time – to take Recticel off the stock market.
Recticel made it clear in May that he was not happy with the situation and immediately started looking for “strategic alternatives”. This research has been underway for several months now.
The suspension of the stake indicates that Recticel is ready to make a countermove. Did a White Knight bid higher for Recticel?
Or will Recticel take another route, abandoning the technical foam division of the company and, as a result, Greiner is no longer interested? In this case, Recticel will continue as a purely solitary player, with the bedding section also on display.
Or has Recticel found another way to keep Greiner away?
It is not yet known when Rickettsil plans to make contact.
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