Gerresheimer slips after report of KKR abandoning bid

Shares in Gerresheimer GXIG.DE slip 3% in early Frankfurt trade after Bloomberg News reported that KKR KKR.N dropped out of a consortium seeking the German company's takeover

Bloomberg reported that Warburg Pincus, which was also a part of the consortium, is still working to see if it can reach a deal

A local trader says this is "negative news" but flags the shares are down 12% since Monday, so the surprise is slightly limited

In March Reuters reported that a consortium including KKR and Warburg Pincus had submitted a non-binding bid for Gerresheimer