February 18, 2016 / 3:57 PM / 2 years ago

Italy court accepts Hitachi request in Ansaldo STS bid: sources

ROME (Reuters) - An Italian court has accepted a request by Hitachi to suspend a decision by market watchdog Consob calling on it to raise the price of its mandatory bid on Ansaldo STS, three legal sources said.

A logo of Hitachi Ltd. is seen at a news conference in Tokyo October 30, 2012. REUTERS/Toru Hanai

The sources said the court had also thrown out a request by shareholder Amber to have the bid process suspended.

Hitachi launched a 9.5 euro ($10.53) per share mandatory public offer to buy out Ansaldo STS minority shareholders on Jan. 4 after buying a 40 percent stake in the Italian rail signaling company from Finmeccanica last year at the same price.

But earlier this month Consob forced Hitachi to raise its bid to 9.899 euros per share.

Both Hitachi and Amber appealed the decision.

Reporting by Massimiliano Di Giorgio, writing by Stephen Jewkes, editing by Isla Binnie

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