UK-based buyout firm Candover has finally sealed one of Europe’s longest-running takeover battles after raising its €1.6bn ($2.4bn) offer for Netherlands-listed conglomerate Stork by nearly 3%.

Candover's initial offer of €47 per share was rejected in July by Iceland-based food company Marel, which together with local bank Landsbanki Islands owns 43% of Stork through holding company LME eignarhaldsfélag ehf.