Daimler and Rolls-Royce have specified to Tognum in writing a higher take-over bid they had discussed with the German engine maker, two people close to the matter told Reuters on Sunday. The move comes after specialty engine maker Tognum said on Saturday the two bidders had signalled in talks they were willing to raise their bid.
A raised bid could bring a two-month long take-over tussle closer to conclusion, although some shareholders including ING and First Eagle Investment Management may hold out for more.
Tognum had said it was told by Daimler and its British co-bidder on Friday they would raise their bid to 26 euros from 24 euros per share if the target company supported such an offer.
Tognum had added it had yet to receive the offer in writing. The sources said on Sunday that these documents had now been submitted.
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