Paul Singer of Elliot Management, who has 13.5% stake in Kabel Deutschland, feels Vodafone’s prospective takeover of the company places an excessively low value on German cable firm and is suing Vodafone, as reported by Value Walk.
The offer from Vodafone was for 84.53 euros or $105.494. Singer has called for a special meeting and has asked for a report filed by Kabel Deutschland’s auditor. CEO Maneul Cubero admitted at an recent annual meeting that the auditor indicated that Vodafone’s offer was probably not priced appropriately. Elliott Management has requested between 225 and 275 euros ($280 and $343) for Kabel Deutschland. Elliott Management has suggested that there are reports being witheld from shareholders.