Owners argue about the future of Rhön-Klinikum

Sif two agree, then the third worries. Business captains can also rely on this sandbox rule. I had in early March Bernard Grosse Broermann (76) and Eugen Münch (75), two pioneers of healthcare in Germany, agreed a spectacular deal: Münch, founder of the hospital group Rhön-Klinikum, entrusts his life’s work to his eternal competitor Broermann, the founder of the Asklepios clinical chain, who paid around € 175 million for the Munich Rhön share package. This is how the second largest private hospital operator in the Republic will be created, surpassed only by the Dax Fresenius group with its chain of Helios hospitals. So far, the plan is so beautiful.

But hadn’t Rhön Ludwig Georg Braun (76) bought from medical technology maker B. Braun from Melsungen in northern Hesse just to avoid consolidation in the private hospital market? Yes, it was exactly the same, even if the original idea was to avoid a Helios takeover offer. With 25.3 percent of the shares, Braun was even the majority shareholder until Münch and Broermann surprised him. “In the end, the deal will help all of Rhön’s shareholders, including Mr. Braun,” said Münch, founder and chairman of the supervisory board, its majority owner of F.A.S. Tell the wet investigation something after Braun was not informed about the two-month merger talks with the great Broermann.

Even back then in Melsungen it was definitely supposed to have a different opinion, even if Anna Maria Braun (40) had taken over her father’s reins in the meantime. There was certainty on Saturday night. Braun formally calls for an extraordinary general meeting to be called. It should eliminate the part of Rhön’s supervisory board loyal to Münch, including Eugen Münch, and introduce a 75 percent threshold for strategic decisions, which would go well with its own 25.3 percent stake. Braun also proposes a special distribution of 2 euros per share after the board of directors proposed a regular dividend of 25 cents per share. The special dividend would drag the main shareholder around 17 million euros to the register.

“Irresponsible claims”

Asklepios’ takeover bid is 18 euros per share; The price before the announcement of the offer was 14.97 euros. So far Asklepios has placed 50.3 percent of the shares under his control. According to Asklepios CFO Hafid Rifi, Braun has yet to respond to the offer. Does the family business want to sweeten the sale of its Rhön shares at a premium of 2 euros each? And in view of the banning of the assembly due to the crown pandemic, how should a general meeting be held with detailed advice, as required by B. Braun? “There are no comments on provisional states in legal proceedings,” Melsungen said Saturday.