1. Activist Investor Criticises Offer for German Tile Maker Braas Monier

    Activist Investor Criticises Offer for German Tile Maker Braas Monier

    Oct 19 (Reuters) - Activist investor Petrus Advisers on Wednesday criticised a 25 euro per share offer for German roof tile maker Braas Monier from U.S. rival Standard Industries as too low in an open letter to Standard Industries owner 40 North. * "40 North's offer is a mistake," London-based Petrus writes in a letter to 40 North, published on its website. * Standard Industries' offer for Braas Monier values it at about 1.9 billion euros ($2.1 billion) including debt.

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