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BV plays down SGS takeover rumours.
(From Lloyds List)
FRENCH classification society Bureau Veritas was yesterday keen to play down renewed speculation that Switzerland's SGS may seek to launch a takeover offer, writes David Osler.
The rumours, which have boosted significantly the SGS share price, follow a press conference held by the company in Geneva on Tuesday.
Embarrassingly, they come at a time when BV is itself engaged in a hostile takeover bid for Germanischer Lloyd, its Hamburg counterpart.
SGS's purpose in holding the press conference was to announce the departure of chief executive Dan Kerpelman and replacement by Chris Kirk, with immediate effect.
But comments from SGS chairman Sergio Marchionne were interpreted as a hint that a bid for BV could ...
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