Russia’s Lenta said on April 5 that rival grocery chain Magnit had approached it with an indicative, non-binding proposal to buy 100 percent of Lenta for $1.78 billion, or $3.65 per global depository receipt (GDR).
Reuters: Russia’s Lenta says Magnit approached it on possible combination
(L-R) CEO of Russian steel group Severstal Alexey Mordashov, Chairman and CEO of Arcelor Guy Dolle and Arcelor Chief Financial Officer Gonzalo Urquijo are seen during a press conference on the proposed merger with Russian steel group Severstal in Madrid, 02 June 2006. The merger will remain pending until a shareholders vote at the end of the month but is planned to prevent the absorption of Arcelor by Mittal Steel , the world's biggest metallurgical coporation.
