Reuters – Advent will Not Increase Bid for Douglas

Private equity firm Advent International said it would not increase its 1.5 billion euro ($1.9 billion) offer for German retailer Douglas, even though it is a way from gaining enough shares. A regulatory filing showed shareholders representing 55.07 percent of Douglas' stock had accepted the offer. Advent, which has teamed up with the Douglas founding family for the bid, needs to cross the 75 percent threshold for the offer to succeed.

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