A.C.S. Takeover Bid for Hochtief Rattles German Markets - NYTimes.com

A.C.S. Takeover Bid for Hochtief Rattles German Markets - NYTimes.com: "Talk about a takeover with a twist: few would believe that a debt-heavy construction conglomerate that relies on the stagnating Spanish economy for most of its revenue could take over a 137-year-old, cash-rich German blue chip.Florentino Pérez, chief of A.C.S., says the merger would create the world’s most powerful building services company.
But such is the intent of Grupo A.C.S., a Spanish construction and building services company, in its audacious bid to acquire Hochtief, a German building conglomerate. The offer has rattled the political and corporate establishment in Germany and comes against the backdrop of Germany, Europe’s strongest economy, perhaps having to lead an expensive rescue of Spain, thought to be the next casualty of the euro zone’s debt crisis."

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