VTG calls on suitor Morgan Stanley Infrastructure to hike bid: Reuters

Rail logistics group VTG (VT9G.DE) said on Tuesday that Morgan Stanley Infrastructure should sweeten its takeover offer but added the suitor had not shown any willingness to do so.

“There is certainly room for improvement,” Chief Executive Heiko Fischer told Reuters, confirming the target’s critical view of the 53 euros-per-share bid.

The U.S. investor announced a cash takeover offer for VTG last month after securing a large stake from German billionaire Klaus Michael Kuehne.

Kuehne Holding AG agreed to sell around 20 percent of VTG for more than 300 million euros ($342 million), raising Morgan Stanley Infrastructure’s stake in the company to 49 percent.