Morgan Stanley fund offer for PNE too low - shareholders group SdK
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FRANKFURT (Reuters) - Morgan Stanley Infrastructure Partners' offer for PNE which values the German renewable firm at 306 million euros (262.67 million pounds) is too low, small shareholders group SdK said on Tuesday.The 4.00 euro per share bid runs until Nov. 28 and will succeed if more than 50% of shareholders tender their stock. Morgan Stanley had secured a 21.9% stake as of Nov. 15."The cash compensation seems inadequate in our view," SdK said in a statement. "Against the backdrop of..