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German classification society Germanischer Lloyd (GL) recently claimed victory in the battle for control of the firm after retail tycoon and white knight Gunter Herz reached agreement to buy more than 40% of the company’s shares. In the meantime, French classification society Bureau Veritas formally admitted defeat in the battle for Germanischer Lloyd, acknowledging the German company’s shareholders had preferred a ’financially- driven’ deal to its own takeover offer.
German classification society Germanischer Lloyd (GL) recently claimed victory in the battle for control of the firm after retail tycoon and white knight Gunter Herz reached an agreement to buy more than 40% of the company’s shares. In the meantime, French classification society Bureau Veritas formally admitted defeat in the battle for Germanischer Lloyd, acknowledging the German company’s shareholders had preferred a ’financially-driven’ deal to its own takeover offer.