BC Partners and Macquarie combine for Techem bid

BC Partners has joined forces with rival bidder Macquarie Bank in its efforts to acquire Techem, as the three-month battle for the German meter-reading company looks set to reach its conclusion.

Macquarie outbid BC Partners in December, offering a 5% premium to the price offered by the buyout group in the first hostile takeover bid in Germany for a listed target.

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