GERMANY: Kamps under fire for suspected insider trading
The German Stock Exchange watchdog, BAWe, is investigating rumours of insider trading ahead of yesterday's announcement that Italian pasta giant Barilla is bidding for control of German bakery group Kamps. Barilla yesterday said it was offering €12 (US$10.55) per share for Kamps, valuing the group at €993.5m. Kamps' shares rose strongly late last week, marking a 4.4% gain to €10.78 on Friday. The rise prior to yesterday's bid has prompted suspicions, although rumours of a potential bid have been floating around for several months as Barilla and Kamps investigated collaboration opportunities.
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