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Investing.com -- CECONOMY AG confirmed Thursday that it is in advanced negotiations with JD.com regarding a possible public takeover.
The German electronics retailer stated that JD.com is considering making a voluntary public takeover offer for all bearer ordinary shares at €4.60 per share, in accordance with German Securities Acquisition and Takeover Act provisions.
CECONOMY emphasized that no legally binding agreements have been signed yet, and it remains uncertain whether a takeover offer will actually materialize.
The confirmation follows earlier reports by Bloomberg that JD.com was in talks to purchase CECONOMY at the same price point of €4.60 per share.
The potential all-cash offer would represent a significant move for Chinese e-commerce giant JD.com into the European retail market, where CECONOMY operates electronics store chains.
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