GERMANY – BC Partners bids for Techem

BC Partners has made an offer of EUR 52 per share for the German utility billing specialist Techem AG. The financial investor offers EUR 8 more per share than Macquarie Bank that had announced its bid of EUR 44 per share on 23 October. BC Partners’ offer is subject to a minimum acceptance level of 50.1% of Techem shares. This level is significantly lower than Macquarie’s, which is looking to obtain at least 70.5% of Techem shares.