Feb 16 (Reuters) - British money manager Aberdeen
will vote against the proposed 7.8 billion euro ($9.25
billion) takeover of InPost by a consortium led by
FedEx ( FDX ), saying the offer materially undervalues the
parcel locker company.
The firm, which holds a 0.2% stake in InPost according to
LSEG data, urged InPost's board to reassess its support for the
"unjustifiably low" 15.60 euros per share cash offer.
"The offer is opportunistic, seeking to exploit a temporary
dislocation in the share price at the expense of long term
shareholders," said Matthew Peacock, a research analyst at
Aberdeen Investments, according to extracts of a letter seen by
Reuters.
Aberdeen's opposition was first reported by Bloomberg News.
The consortium, which includes Advent International, PPF
Group and InPost CEO Rafal Brzoska's investment vehicle A&R,
agreed to the takeover in early February, with plans to expand
InPost's footprint across France, Spain, Portugal, Italy,
Benelux and Britain.
InPost operates across nine countries including its home
market Poland, and has one of the largest European networks of
automated parcel machines.
($1 = 0.8432 euros)
(Reporting by Raechel Thankam Job in Bengaluru and Iain Withers
in London; Editing by Bernadette Baum and Jan Harvey)