News / Rail freight specialist VTG rejects €1.5bn Morgan Stanley takeover bid

© Viktor Konya

The board of German rail freight asset owner and logistics firm VTG has rejected a €1.52bn ($1.8bn) takeover bid from a private equity fund managed by US investment bank Morgan Stanley.

Morgan Stanley subsidiary Warwick Holdings had built up a 27% stake in VTG, which is listed on Frankfurt Stock Exchange, and according to VTG, has also agreed to buy just over 20% from Kuehne Holdings at €53 per share.

According to Reuters, Kuehne + Nagel owner Klaus Michael Kuehne’s investment firm bought its ...