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.

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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.


“We’ll examine it more closely with a view to possible insider trading,” FT Deutschland quoted a BAWe spokeswoman as saying.


For more information on yesterday’s takeover bid, click here.


 

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