ACS Acquires 30.34% Hochtief Stake

Spanish construction company,Actividades de Construccion & Servicios(ACS), has acquired a 30.34% stake in rivalHochtief,The Wall Street Journalreports. With the latest acquisition, the Madrid-based company now buy the controlling stake of at least 50% that it wants in the German company, at its discretion.

ACS launched a takeover offer for Essen-based company last month, which valued it at €4.97 billion. ACS’s tender offer will now be extended by another two weeks until January 18, adds金融时报》.

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