Setback for X-Rite, Gretag tie-up

News by

29 March 2006

X-Rites move into a definitive agreement to buy rival colour management firm Gretag-Macbeth has hit an obstacle in the shape of Eichhof.

The Swiss parent of colour management firm Datacolor has said it may launch a counterbid for Amazys Holding, the parent of GretagMacbeth.

X-Rite and Gretag entered into the agreement in January this year. The deal, which would give US company X-Rite a massive market share, had almost been completed when Amazys received a letter of intent from Eichhof.

Amazys chief financial officer Rolf Jeger said Eichhof was awaiting the results of due diligence findings before launching a counter-bid to X-Rite's offer of 160m ($280m) plus 2.11 X-Rite shares for each Amazys share.

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"Sorry to read this, a big name to go down, hopefully a lot of the £1.8M was insured. We are recruiting operational staff & currently in-talks to assist the clients with immediate requirements."